Welbilt, Inc. (NYSE:WBT) reported net income of $ 26.80 million or per share of $ 0.19 for the third quarter.
The company delivered net sales of $ 412.90 million for the same period representing year-over-year growth of 9 percent that fell shy of street analysts expectation by $ 8 million.
However, on an adjusted basis, Welbilt reported adjusted net income of $ 0.25 a share for the same period that came in below market expectations.
Analysts polled by Thomson Reuters expected Welbilt to report income of $ 0.28 per share on revenue of $ 420.53 million for the third quarter. Analysts estimate normally exclude one time gain or loss.
For the full year 2018, WBT expects earnings in the range of $ 0.73 – $ 0.81 per diluted share.