Shares of Manitowoc Foodservice (MFS)  lost ground on Thursday following the release of its second quarter earnings report that missed Wall Street forecasts. The drop was not exactly pleasing to CEO Hubertus Muehlhaeuser, but then again, the company's shares have ripped over 25 percent higher since the company started trading independently in March. 'We had a very good start with two very strong quarters into the year,' said Muehlhaeuser. 'Our restructuring journey is fully on track so we are very pleased.' Manitowoc Foodservice on Thursday reported second-quarter adjusted earnings of $0.12 a share, short of Wall Street expectations of $0.16 a share. The food and beverage equipment maker posted revenue of $368.4 million in the period, which also missed Street forecasts of $379.1 million. Muehlhaeuser said 2016 marks a transition year for the company after it was spun-off from the crane-operator earlier this year. Despite the earnings miss relative to Wall Street expectations, he said the company is on track to meet its 2016 goals of delivering operational improvement initiatives, driving new products and deleveraging the balance sheet.

'

More from Video

If You Want to Invest in Artificial Intelligence, Here's the One Stock to Buy

If You Want to Invest in Artificial Intelligence, Here's the One Stock to Buy

Economist Perspective: Brexit Endgame in Sight?

Economist Perspective: Brexit Endgame in Sight?

Smaller Cap Stocks Could Make Great Stocking Stuffers Ahead of 2019

Smaller Cap Stocks Could Make Great Stocking Stuffers Ahead of 2019

5 Highly Anticipated Tech IPOs to Watch in 2019

5 Highly Anticipated Tech IPOs to Watch in 2019

Trading Strategies: How to Play the Federal Reserve's Decision Next Week

Trading Strategies: How to Play the Federal Reserve's Decision Next Week