WBT - WBT STOCK NEWS

Welbilt, Inc. (NYSE:WBT) will host a live conference call to discuss its Q1 2021 earnings on May 6 at 10:00 am ET. A pre-market earnings announcement will precede the call. Institutional investors can join the call using toll-free number +1 (833) 952-1505 and Conference ID 662-9118. The event will be webcast live and available for replay on the Investor Relations page at www.welbilt.com for 30 days after the call. The company generated $1.2 billion in sales in 2020 and operates 19 manufacturing facilities globally.

The Middleby Corporation (NASDAQ: MIDD) announced its acquisition of Welbilt, Inc. (NYSE: WBT) in an all-stock deal valued at $4.3 billion. This strategic move aims to enhance Middleby's Commercial Foodservice platform, contributing to approximately $3.7 billion in combined sales. The transaction is expected to generate $100 million in annual cost synergies by year three, while maintaining financial flexibility with a projected net leverage of ~3.0x. Following the merger, Middleby will own around 76% of the combined entity, reinforcing its competitive position in the market.

Welbilt, Inc. (NYSE:WBT) has promoted Leonard Lam to Senior Vice President and Managing Director for the Asia Pacific (APAC) region, effective immediately. With a tenure at Welbilt since 2007, Lam has extensive experience, having served in various roles including Vice President of Finance and Marketing. His leadership is expected to drive profitable growth in APAC, emphasizing marketing and operational improvements. Lam expressed enthusiasm about the opportunities in the region, which is anticipated to grow strongly in the coming years.

Welbilt, Inc. (NYSE:WBT) reported its Q4 2020 financial results, showing a 16.2% decrease in net sales at $320.0 million. Operating earnings improved to $40.6 million, up from $37.4 million year-over-year. However, net earnings slightly rose to $20.2 million, down from $18.4 million in the previous year while Adjusted Net Earnings fell to $21.7 million. For the full year, net sales dropped by 27.6% to $1,153.4 million, resulting in a net loss of $7.4 million. Despite challenges from COVID-19, the company noted improvements in cash flow.

Welbilt, Inc. (NYSE:WBT) will host a live conference call on February 25 at 10:00 am ET to discuss its Q4 2020 earnings, with a pre-market earnings announcement set for the same day. Institutional investors can join using the provided toll-free number and conference ID. The webcast will be accessible via Welbilt's Investor Relations page, along with a replay available for 30 days after the call. Welbilt offers leading equipment and solutions for the culinary industry, with notable brands and a global distribution network.

Welbilt (NYSE:WBT) has announced a strategic partnership with HCL Technologies to enhance its KitchenConnect® digital platform. This partnership aims to improve scalability, security, and functionality, enabling operators to connect various kitchen equipment for real-time insights and performance optimization. HCL will develop advanced features and provide customization and maintenance support, enhancing customer experience. Welbilt's KitchenConnect platform is designed to help operators increase profitability and comply with food safety standards, marking a significant step in Welbilt's digital transformation efforts.

Welbilt, Inc. (NYSE: WBT) has formed a worldwide licensing partnership with Apex Supply Chain Technologies to manufacture and distribute the Flow-Thru 10,000 food order pickup lockers under its Merco brand. This collaboration enhances Merco's offerings in the foodservice industry, allowing integration with existing digital systems for improved efficiency. The Apex Cloud platform significantly streamlines pickup operations and provides crucial data insights. This partnership aims to meet the evolving demand for safe and efficient food delivery solutions, especially in response to trends accelerated by the pandemic.

Welbilt, Inc. (NYSE:WBT) reported its 2020 third quarter financial results, revealing a 27.3% decline in net sales at $298.5 million compared to last year. Operating earnings fell to $21.2 million from $54.8 million, while adjusted EBITDA decreased to $45.6 million with a 15.3% margin. Net earnings were $4.9 million, significantly lower than last year's $20.1 million. Despite these challenges, the company experienced improved sequential sales and cash flow, with a total liquidity of $332.9 million. The ongoing impact of the COVID-19 pandemic remains a primary concern for the business.

Welbilt, Inc. (NYSE: WBT) will host a live conference call to discuss its third quarter earnings on November 3 at 10:00 am ET. The earnings announcement will precede the call. Institutional investors can join via toll-free dial-in number +1 (833) 952-1505, with Conference ID 699-7069. A webcast and replay will be available on the Investor Relations page at www.welbilt.com for 30 days following the call. The company generated sales of $1.6 billion in 2019 and is headquartered in Florida, operating globally with 20 manufacturing facilities.