Welbilt (WBT) Tops Q2 EPS by 4c, Beats on Revenues; Boosts FY17 EPS Guidance Above Consensus, Increases Sales Outlook by 1%

Welbilt (NYSE: WBT) reported Q2 EPS of $0.22, $0.04 better than the analyst estimate of $0.18. Revenue for the quarter came in at $371.1 million versus the consensus estimate of $367.28 million.

“We are increasing our 2017 annual guidance for Organic Net Sales and Adjusted Diluted EPS today. We have increased our Organic Net Sales guidance range by 1 percent as we continue to expect end market conditions to remain good in the general market and to slowly improve in the large QSR and fast-casual markets. We expect our Simplification and Right-Sizing initiatives and the recent price increase to fully offset higher compensation expense and material price inflation and for the full year we will deliver between 70 and 220 basis points of improvement to Adjusted Operating EBITDA margin. With our higher Organic Net Sales guidance and a lower expected tax rate, we have increased our Adjusted Diluted EPS guidance by $0.09 to now be between $0.74 and $0.84 per share,\" concluded Muehlhaeuser.

2017 Second Quarter Highlights

• Net sales were $371.1 million, an increase of 0.7 percent; Organic Net Sales growth was 3.6 percent
• Diluted earnings per share were $0.21; Adjusted Diluted Earnings Per Share were $0.22
• Earnings from operations were $54.0 million, an increase of 8.4 percent; as a percent of net sales, earnings from operations were 14.6 percent, an increase of 110 basis points
• Adjusted Operating EBITDA was $66.5 million, an increase of 4.2 percent; Adjusted Operating EBITDA margin was 17.9 percent, an increase of 60 basis points

GUIDANCE:

Welbilt sees Q3 2017 EPS of $0.74-$0.84, versus the consensus of $0.72.

For earnings history and earnings-related data on Welbilt (WBT) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery