Manitowoc Foodservice (MFS) Tops Q3 EPS by 3c; Trims FY16 Organic Sales Growth Outlook
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Manitowoc Foodservice Reports Another Strong Margin Quarter
November 7, 2016 6:00 AM ESTSavings from Simplification and Right-Sizing initiatives drive year-over-year margin improvement; 2016 margin and EPS guidance ranges reconfirmed
NEW PORT RICHEY, Fla.--(BUSINESS WIRE)-- Manitowoc Foodservice, Inc. (NYSE: MFS), today announced financial results for its 2016 third quarter. Net sales in the third quarter were $384.0 million compared to $425.3 million in last years third quarter, a 9.7 percent decrease. However, prior year third quarter net sales included $38.5 million from Kysor Panel Systems (KPS), which was sold in December 2015 and excluded $2.7 million from Welbilt Manufacturing (Thailand), Ltd. (Welbilt), previously a 50 percent-owned joint venture of which we... More
