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WELBILTⓇ Bringing innovation to the table Exhibit 99.1 NEWS RELEASE WELBILT REPORTS 2021 SECOND QUARTER OPERATING RESULTS New Port Richey , FL . - August 3 , 2021 - Welbilt , Inc. ( NYSE : WBT ) , today announced financial results for its 2021 second quarter . 2021 Second Quarter Highlights ( ¹ ) • • • • Net sales were $ 395.6 million , an increase of 92.0 percent from the prior year ; Organic Net Sales ( a non - GAAP measure ) increased 85.8 percent from the prior year Earnings from operations were $ 50.2 million compared to $ 0.7 million in the prior year ; as a percentage of net sales , earnings from operations were 12.7 percent compared to 0.3 percent in the prior year Adjusted Operating EBITDA ( a non - GAAP measure ) was $ 73.5 million compared to $ 19.8 million in the prior year ; Adjusted Operating EBITDA margin was 18.6 percent compared to 9.6 percent in the prior year Net earnings were $ 23.7 million compared to a net loss of $ 17.4 million in the prior year ; Adjusted Net Earnings ( a non - GAAP measure ) were $ 31.7 million compared to Adjusted Net Loss of $ 9.9 million in the prior year Diluted net earnings per share was $ 0.17 compared to diluted net loss per share of $ 0.12 in the prior year ; Adjusted Diluted Net Earnings Per Share ( a non - GAAP measure ) was $ 0.22 compared to Adjusted Diluted Net Loss Per Share of $ 0.07 in the prior year Net cash provided by operating activities was $ 37.1 million , compared to net cash provided by operating activities of $ 8.1 million in last year's second quarter ; Free Cash Flow ( a non - GAAP measure ) was $ 31.9 million compared to $ 3.2 million in last year's second quarter 2021 Second Quarter Year - to - date Highlights ( ¹ ) • . • • Net sales were $ 712.4 million , an increase of 33.2 percent from the prior year ; Organic Net Sales ( a non - GAAP measure ) increased 29.3 percent from the prior year Earnings from operations were $ 81.7 million compared to $ 1.3 million in the prior year ; as a percentage of net sales , earnings from operations were 11.5 percent compared to 0.2 percent in the prior year Adjusted Operating EBITDA ( a non - GAAP measure ) was $ 123.3 million compared to $ 65.3 million in the prior year ; Adjusted Operating EBITDA margin was 17.3 percent compared to 12.2 percent in the prior year Net earnings were $ 31.6 million compared to a net loss of $ 32.5 million in the prior year ; Adjusted Net Earnings ( a non - GAAP measure ) were $ 43.6 million compared to Adjusted Net Loss of $ 8.5 million in the prior year Diluted net earnings per share was $ 0.22 compared to diluted net loss per share of $ 0.23 in the prior year ; Adjusted Diluted Net Earnings Per Share ( a non - GAAP measure ) was $ 0.31 compared to Adjusted Diluted Net Loss Per Share of $ 0.06 in the prior year Net cash provided by operating activities was $ 20.7 million , compared to net cash used in operating activities of $ 64.4 million in the prior year ; Free Cash Flow ( a non - GAAP measure ) was $ 10.8 million compared to a use of $ 74.9 million in the prior year ( ¹ ) Definitions and reconciliations of the non - GAAP measures used herein are included in the schedules accompanying this release . Summarizing Welbilt's second quarter performance , Bill Johnson , Welbilt's President and CEO , stated , " Second quarter Third - party Net Sales and Organic Net Sales grew substantially this quarter compared to last year's second quarter , which marked the worst quarter we experienced since the beginning of the COVID - 19 pandemic . We are very pleased with our strong Adjusted Operating EBITDA and Adjusted Operating EBITDA margin performance despite the inflationary impacts from our supply chain and logistics providers . We successfully offset these headwinds with the beneficial impact from increased volume , positive net pricing , and improved productivity attributable to the improvements we have made to date as part of our Business Transformation Program ( " Transformation Program " ) and through the cost containment actions we put in place last year that are continuing to Copyright © 2021 www.secdatabase.com . All Rights Reserved . Please Consider the Environment Before Printing This Document