Welbilt WBT reported second-quarter earnings of 22 cents per share, which beat the analyst consensus estimate of 19 cents by 15.79%. This is a 10% increase over earnings of 20 cents per share from the same period last year.
The company reported quarterly sales of $426.3 million, which missed the analyst consensus estimate of $427.56 million by 0.29%. This is a 1.33% increase over sales of $420.7 million the same period last year.
Welbilt sees fiscal year 2019 EPS guidance of 71-81 cents versus the 76 cent estimate.
"We are pleased with our operating performance in the second quarter," said Bill Johnson, Welbilt CEO. "Both the Americas and APAC delivered Organic Net Sales increases. Operationally, our Adjusted Operating EBITDA margin improved 150 basis points year-over-year. The improvement was driven by positive pricing following our March pricing actions, along with positive volume/mix in the quarter."
Welbilt shares closed Monday at $15.55. The stock has a 52-week high of $22.93 and a 52-week low of $10.66.
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