Welbilt Provides Business Update Regarding COVID-19
Welbilt, Inc. (WBT)
Last welbilt, inc. earnings: 2/25 06:00 am
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US:NYSE Investor Relations:
ir.manitowocfoodservice.com/investor-relations/default.aspx
Company Research
Source: Business Wire
NEW PORT RICHEY, Fla.--(BUSINESS WIRE)--Welbilt, Inc. (NYSE:WBT) announced today that the recent outbreak of the novel coronavirus, or COVID-19, is disrupting the commercial foodservice equipment end markets in the Americas and EMEA. While many professional kitchens remain open for takeout, drive-thru and delivery, many have closed to dine-in customers while others have closed completely. Accordingly, the demand for commercial foodservice equipment and aftermarket parts is anticipated to be negatively impacted through the second quarter of 2020 and possibly beyond. Due to the rapidly changing environment, we are withdrawing our previous 2020 full-year guidance that was provided with our 2019 fourth quarter earnings release and discussed on our 2019 fourth quarter earnings call on February 25, 2020. Based on our current view of the business, we are expecting our 2020 first quarter net sales to decrease between 10 and 15 percent compared to the prior year.We have developed contingen
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