WBT - WBT STOCK NEWS

Welbilt, Inc. (NYSE:WBT) and Apex Order Pickup Solutions have launched OrderHQ™, a series of smart lockers designed for efficient food order pickups. The lockers integrate with existing systems, enhancing customer experiences by enabling contactless, swift pickups in under 10 seconds. Utilizing ApexIQ™ software, operators gain valuable data insights, aiding in minimizing wait times and improving food quality. Available in various models, the lockers streamline labor by automating the order hand-off process, allowing employees to focus on production. This launch signifies a collaborative effort to enhance operational efficiency in the foodservice sector.

Welbilt, Inc. (WBT) reported strong second-quarter 2021 financial results, with net sales of $395.6 million—an impressive 92.0% increase year-over-year. Earnings from operations reached $50.2 million, a significant rise from $0.7 million in the prior year. Adjusted Operating EBITDA rose to $73.5 million, achieving an EBITDA margin of 18.6%. Net earnings were $23.7 million compared to a loss of $17.4 million a year ago. Free Cash Flow improved to $31.9 million, supporting debt reduction and increased cash reserves. The company maintains a 2021 net sales forecast of $1.482 billion.

Welbilt, Inc. (NYSE:WBT) will host a live conference call to discuss its Q2 2021 earnings on August 3 at 10:00 am ET. A pre-market earnings announcement will be released on the same day. The call will not include a live Q&A session. Investors can listen to the call via a toll-free number, with a conference ID of 906-7868. The earnings call will also be available via webcast on the company's Investor Relations page. A replay will be accessible for 30 days.

Ali Group has entered into a merger agreement to acquire Welbilt for $24.00 per share, totaling approximately $3.5 billion in equity value. The acquisition, unanimously approved by both companies' boards, aims to enhance product offerings and global reach. Ali Group's Chairman expressed enthusiasm for combining brands, while Welbilt's CEO highlighted the cash value and growth prospects for shareholders and employees. Notably, Carl Icahn, owning 7.7% of Welbilt stock, supports the deal. The merger is expected to close in early 2022, subject to customary conditions.

Welbilt (NYSE:WBT) has announced that its Board of Directors considers the revised proposal from Ali Holding S.r.l. as a 'Company Superior Proposal.' The new offer is for $24 per share in cash, up from the previous $23 per share proposal, totaling an enterprise value of approximately $4.8 billion. Welbilt plans to terminate its merger agreement with The Middleby Corporation and may finalize an agreement with Ali Group by July 14, 2021, depending on regulatory approvals and shareholder consent.

Welbilt, Inc. (NYSE: WBT) announced it has received a revised unsolicited acquisition proposal from Ali Holding S.r.l., offering $24 per share in cash, up from the previous $23 offer. Welbilt is currently under a merger agreement with The Middleby Corporation, where shareholders would receive 0.1240 shares of Middleby stock per Welbilt share. The Board of Directors is evaluating the new proposal while fulfilling its fiduciary duties. Shareholders need not take action at this time, and financial advisory is provided by Morgan Stanley.

Ali Holding S.r.l. (Ali Group) has proposed to acquire Welbilt, Inc. (NYSE: WBT) for $24.00 per share in cash, marking a premium of 3.5% over Welbilt's closing price on July 2, 2021. This offer is also 11.4% higher than an existing all-stock transaction with The Middleby Corporation. Ali Group secured financing from Goldman Sachs and Mediobanca and included a provision to expedite regulatory approval. The merger is expected to create a leading entity in foodservice equipment and solutions, leveraging the complementary portfolios of both companies.

Welbilt, Inc. (NYSE: WBT) reported Q1 2021 financial results featuring net sales of $316.8 million, down 3.7% year-over-year. Organic Net Sales decreased 6.0%, mainly due to reduced demand amid the ongoing COVID-19 pandemic. However, earnings from operations surged to $31.5 million from $0.6 million last year. Adjusted Operating EBITDA rose to $49.8 million, with a margin of 15.7%. The company also experienced improved Free Cash Flow, using $21.1 million compared to $78.1 million in Q1 2020. Total global liquidity stood at $353.7 million as of March 31, 2021.

Welbilt, Inc. (NYSE:WBT) has become the exclusive distributor for Nuovair's roll-in blast chillers in the U.S. and Canada. These chillers utilize advanced technology to enhance food preservation, extending shelf life and quality. Key features include a high air-flow rate for faster cooling, a large evaporator to minimize evaporation, and MICROcrystal technology that maintains food texture and nutrients. Benefits for operators include a 30% reduction in labor costs and a significant decrease in food waste, promoting operational efficiency and sustainability.