Welbilt, Inc., designs, manufactures, and supplies foodservice equipment for commercial foodservice market worldwide. The company offers commercial upright and undercounter refrigerators and freezers, blast freezers and chillers, and cook-chill systems under the Delfield brand; and walk-in refrigerators, coolers and freezers, and prefabricated cooler and freezer panels under the Kolpak brand. It also provides traditional, combination, convection, conveyor, and rapid-cooking ovens, and range and grill products under the Convotherm, Garland, Lincoln, and Merrychef brands; fryers and frying systems under the Frymaster brand; and steam equipment under the Cleveland brand. In addition, the company offers cafeteria and buffet equipment stations, bins, boxes, warming cabinets, warmers, display and deli cases, and insulated and refrigerated salad and food bars under the Delfield, Merco, and other brand names; beverage dispensers, blended ice machines, ice/beverage dispensers, beer coolers, post-mix dispensing valves, backroom equipment, and support system components and related equipment; ice machines under the Manitowoc and other brand names; coffee equipment under the Crem brand name; and other beverage-related products under the Multiplex and Manitowoc brand names. Further, it provides after-market parts, and installation and start-up, and preventative maintenance services; spare parts supply for Welbilt products under the KitchenCare brand; designed kitchens under FitKitchen brand; and KitchenConnect, a cloud based-application. It supplies its products to full-service restaurants, quick-service restaurant chains, hotels, resorts, cruise ships, caterers, supermarkets, convenience stores, hospitals, schools, and other institutions through dealers and distributors. The company was formerly known as Manitowoc Foodservice, Inc. and changed its name to Welbilt, Inc. in February 2017. Welbilt, Inc. was founded in 1864 and is headquartered in New Port Richey, Florida.
IPO Year: 2016
Exchange: NYSE
Website: welbilt.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/15/2021 | $20.00 → $24.00 | Overweight → Equal-Weight | Barclays |
| 7/2/2021 | Buy → Neutral | CL King |
Complementary acquisition enhances Commercial Water Solutions business; delivers total water management solutions for foodservice and hospitality customers Pentair plc (NYSE:PNR), a leading provider of water treatment and sustainable solutions, today announced that it has completed the previously announced transaction to acquire Manitowoc Ice from Welbilt, Inc. (NYSE:WBT) for $1.6 billion, subject to customary adjustments. Manitowoc Ice is a leading provider of commercial ice makers. "Manitowoc Ice is a great business and an iconic brand, and we are excited to welcome its team members to Pentair as we work together to deliver smart, sustainable water solutions to customers around the worl
Welbilt, Inc. (NYSE:WBT), a leading provider of commercial equipment and cloud device management for the foodservice industry, is proud to announce today the launch of the Largest Smart Restaurant Ecosystem. The ecosystem is powered by the biggest digital companies in the Internet of Things (IoT) space that will empower its homegrown cloud platform for connected restaurant equipment, KitchenConnect®. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005012/en/Largest Smart Restaurant Ecosystem Partners. (Graphic: Business Wire) The foodservice equipment industry is in the midst of the largest digital transformation in history.
Industry leaders collaborating to transform restaurant operations CHICAGO, May 19, 2022 /PRNewswire/ -- As restaurant operators seek to accelerate their digital transformation in response to labor challenges, changing consumer behaviors, and increasing cost pressures, AT&T*, Microsoft and Welbilt are coming together to help restaurants digitize, simplify and transform their kitchens across the food service industry. Welbilt selected AT&T to connect their award-winning KitchenConnect® cloud solution to build upon their restaurant equipment manufacturing expertise. KitchenConnect delivers improved efficiency, reduced cost, and enhanced food quality to commercial kitchens. "Using AT&T's wireles
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2022 first quarter. Due to the announced and pending sale of Welbilt's Manitowoc® Ice business to Pentair plc, the results for Manitowoc Ice are presented as Discontinued Operations in this release and accompanying financial statements and tables for all periods presented. 2022 First Quarter Highlights (1) Net sales from continuing operations were $333.0 million, an increase of 31.5 percent from the prior year; Organic Net Sales from continuing operations (a non-GAAP measure) increased 33.4 percent from the prior year Earnings from continuing operations were $23.1 million compared to $7.2 million in the prior year; as
Highly complementary offering to expand Water Solutions platform, enhance value proposition for customers and provide an additional springboard for growth Strategically expands Pentair's commercial water solutions platform and will accelerate growth within the foodservice industry space Combines two innovative industry leaders in water filtration and ice solutions Increases total water management offering and deployment of smart, connected solutions Enhances Pentair's Everpure commercial filtration solutions and commercial services network to provide high quality water for ice products while enhancing growth in water quality direct-to-customer solutions and services Expected to ad
Welbilt, Inc. (NYSE:WBT) today announced that it has entered into a definitive agreement to sell its Manitowoc® Ice business ("Manitowoc Ice") to Pentair plc (NYSE:PNR) for approximately $1.6 billion in cash, on a cash free and debt free basis, subject to customary post-closing adjustments. Manitowoc Ice designs, manufactures and markets a full line of ice machines and related equipment and generated sales of approximately $308 million in 2021. Commenting on the transaction, Bill Johnson, Welbilt's President and CEO, said, "We believe that this transaction is a good outcome for both Welbilt and Manitowoc Ice. We are confident that the successful closing of this transaction will pave the wa
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2021 fourth quarter. 2021 Fourth Quarter Highlights (1) Net sales were $423.0 million, an increase of 32.2 percent from the prior year; Organic Net Sales (a non-GAAP measure) increased 32.3 percent from the prior year Earnings from operations were $47.3 million compared to $40.6 million in the prior year; as a percentage of net sales, earnings from operations were 11.2 percent compared to 12.7 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $77.0 million compared to $60.0 million in the prior year; Adjusted Operating EBITDA margin was 18.2 percent compared to 18.8 percent in the prior yea
Welbilt, Inc. (NYSE:WBT), a leading provider of commercial foodservice equipment, announced today that it will integrate Microsoft Azure Sphere to upgrade security in its KitchenConnect® internet-connected equipment and will host the solution on Microsoft Azure through a new partnership with HCL Technologies. Welbilt KitchenConnect is an award-winning open cloud solution that offers a digital platform for internet-connected equipment in the foodservice industry. The integration of Azure Sphere in the KitchenConnect solution will add new security capabilities to keep connected equipment protected over time and to provide secured communication between devices and the KitchenConnect platform.
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2021 third quarter. 2021 Third Quarter Highlights (1) Net sales were $411.5 million, an increase of 37.9 percent from the prior year; Organic Net Sales (a non-GAAP measure) increased 36.1 percent from the prior year Earnings from operations were $52.6 million compared to $21.2 million in the prior year; as a percentage of net sales, earnings from operations were 12.8 percent compared to 7.1 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $75.1 million compared to $45.6 million in the prior year; Adjusted Operating EBITDA margin was 18.3 percent compared to 15.3 percent in the prior year
Welbilt, Inc. (NYSE:WBT) announced that the proposal to adopt and approve the Merger Agreement with Ali Holding S.r.l., Ali Group North America Corporation and Ascend Merger Corp. (collectively "Ali Group") was approved today by Welbilt stockholders with 99.72 percent of shares that were voted cast in favor of the pending merger. In addition, Welbilt and Ali Group have submitted regulatory filings in all required jurisdictions, including the U.S., United Kingdom, and European Union. The companies have received a second request for information from the U.S. Department of Justice which focuses on the companies' ice brands. The companies have decided that they will proceed with divesting Welb
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Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2022 first quarter. Due to the announced and pending sale of Welbilt's Manitowoc® Ice business to Pentair plc, the results for Manitowoc Ice are presented as Discontinued Operations in this release and accompanying financial statements and tables for all periods presented. 2022 First Quarter Highlights (1) Net sales from continuing operations were $333.0 million, an increase of 31.5 percent from the prior year; Organic Net Sales from continuing operations (a non-GAAP measure) increased 33.4 percent from the prior year Earnings from continuing operations were $23.1 million compared to $7.2 million in the prior year; as
Highly complementary offering to expand Water Solutions platform, enhance value proposition for customers and provide an additional springboard for growth Strategically expands Pentair's commercial water solutions platform and will accelerate growth within the foodservice industry space Combines two innovative industry leaders in water filtration and ice solutions Increases total water management offering and deployment of smart, connected solutions Enhances Pentair's Everpure commercial filtration solutions and commercial services network to provide high quality water for ice products while enhancing growth in water quality direct-to-customer solutions and services Expected to ad
Welbilt, Inc. (NYSE:WBT) today announced that it has entered into a definitive agreement to sell its Manitowoc® Ice business ("Manitowoc Ice") to Pentair plc (NYSE:PNR) for approximately $1.6 billion in cash, on a cash free and debt free basis, subject to customary post-closing adjustments. Manitowoc Ice designs, manufactures and markets a full line of ice machines and related equipment and generated sales of approximately $308 million in 2021. Commenting on the transaction, Bill Johnson, Welbilt's President and CEO, said, "We believe that this transaction is a good outcome for both Welbilt and Manitowoc Ice. We are confident that the successful closing of this transaction will pave the wa
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2021 fourth quarter. 2021 Fourth Quarter Highlights (1) Net sales were $423.0 million, an increase of 32.2 percent from the prior year; Organic Net Sales (a non-GAAP measure) increased 32.3 percent from the prior year Earnings from operations were $47.3 million compared to $40.6 million in the prior year; as a percentage of net sales, earnings from operations were 11.2 percent compared to 12.7 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $77.0 million compared to $60.0 million in the prior year; Adjusted Operating EBITDA margin was 18.2 percent compared to 18.8 percent in the prior yea
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2021 third quarter. 2021 Third Quarter Highlights (1) Net sales were $411.5 million, an increase of 37.9 percent from the prior year; Organic Net Sales (a non-GAAP measure) increased 36.1 percent from the prior year Earnings from operations were $52.6 million compared to $21.2 million in the prior year; as a percentage of net sales, earnings from operations were 12.8 percent compared to 7.1 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $75.1 million compared to $45.6 million in the prior year; Adjusted Operating EBITDA margin was 18.3 percent compared to 15.3 percent in the prior year
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2021 second quarter. 2021 Second Quarter Highlights (1) Net sales were $395.6 million, an increase of 92.0 percent from the prior year; Organic Net Sales (a non-GAAP measure) increased 85.8 percent from the prior year Earnings from operations were $50.2 million compared to $0.7 million in the prior year; as a percentage of net sales, earnings from operations were 12.7 percent compared to 0.3 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $73.5 million compared to $19.8 million in the prior year; Adjusted Operating EBITDA margin was 18.6 percent compared to 9.6 percent in the prior year
Welbilt, Inc. (NYSE:WBT), announced today that it will host a live conference call to share prepared comments related to its 2021 second quarter earnings on Tuesday, August 3 at 10:00 am ET. The company will issue a pre-market earnings announcement the same day. Please note that the company will not host a live Q&A session on the call. Investors are invited to listen to the call using the following details: Participant Toll Free Dial-in Number: +1 (833) 952-1505 Conference ID: 906-7868 Webcast Title: Welbilt 2021 Q2 Earnings Call Webcast: A live webcast and a replay of the call can be accessed on the Investor Relations page at www.welbilt.com. The webcast
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2021 first quarter. 2021 First Quarter Highlights (1) Net sales were $316.8 million, a decrease of 3.7 percent from the prior year; Organic Net Sales (a non-GAAP measure) decreased 6.0 percent from the prior year Earnings from operations were $31.5 million compared to $0.6 million in the prior year; as a percentage of net sales, earnings from operations were 9.9 percent compared to 0.2 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $49.8 million compared to $45.5 million in the prior year; Adjusted Operating EBITDA margin was 15.7 percent compared to 13.8 percent in the prior year Net
NEW PORT RICHEY, Fla.--(BUSINESS WIRE)--Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2020 fourth quarter. 2020 Fourth Quarter Highlights (1) Net sales were $320.0 million, a decrease of 16.2 percent from the prior year; Organic Net Sales (a non-GAAP measure) decreased 17.6 percent from the prior year Earnings from operations were $40.6 million compared to $37.4 million in the prior year; as a percentage of net sales, earnings from operations were 12.7 percent compared to 9.8 percent in the prior year Adjusted Operating EBITDA (a non-GAAP measure) was $60.0 million compared to $71.2 million in the prior year; Adjusted Operating EBITDA margin was 18.8 p
Barclays downgraded Welbilt from Overweight to Equal-Weight and set a new price target of $24.00 from $20.00 previously
CL King downgraded Welbilt from Buy to Neutral
Robert W. Baird downgraded Welbilt from Outperform to Neutral and set a new price target of $26.00
Baird downgraded Welbilt from Outperform to Neutral and set a new price target of $26.00
Citigroup reiterated coverage of Welbilt with a rating of Neutral and set a new price target of $25.00 from $24.75 previously
BMO Capital reiterated coverage of Welbilt with a rating of Market Perform and set a new price target of $25.00 from $17.00 previously
Keybanc downgraded Welbilt from Overweight to Sector Weight
Citigroup reiterated coverage of Welbilt with a rating of and set a new price target of $19.00 from $13.00 previously
BMO Capital Markets reiterated coverage of Welbilt with a rating of Market Perform and set a new price target of $17.00 from $8.50 previously
Robert W. Baird reiterated coverage of Welbilt with a rating of and set a new price target of $18.00 from $17.00 previously
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VANCOUVER, BC, Aug. 5, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ:BLDP) (TSX:BLDP) today announced that, effective August 5, 2021, the Company has appointed Mr. Hubertus Muehlhaeuser to the Company's Board of Directors. Mr. Jim Roche, Chairman of Ballard's Board of Directors said, "We continue to ensure a strong matrix of diverse and complementary skills and experiences on our Board. Hubertus brings a strong background in industrial manufacturing, including commercial vehicles, construction machinery, agricultural machinery, and powertrain technologies. His distinguis