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Manitowoc FoodService Posts Q4 EPS Just Shy Of Street, Revenues Exceed Expectations

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Manitowoc Foodservice ( MFS ), a food equipment company, reported Q4 adjusted EPS of $0.16, down from $0.55 in the same period a year ago and just shy of the estimate of $0.18 from analysts polled by CapIQ.

Total revenues of $378.7 million were down from $391.7 million in the same period a year ago and topped the Street projection of $369.5 million.

The company initiated full year 2017 adjusted EPS guidance between $0.65 and $0.75 per share, below the $0.84 average estimate. Full year organic sales growth is expected between 1% and 2%. The company reported $1.46 billion in sales for 2016.

Manitowoc is changing its name to Welbilt on March 6 and will at the same time change its ticker symbol to WBT.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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