Key Takeaways Middleby's Food Processing Equipment Group posted 8.7% sales growth in the first nine months of 2025.MIDD's Oka, Frigomeccanica, Gorreri and JC Ford deals lifted sales 3.3% year over year in Q3 2025.Middleby repurchased $514.3M of shares in the first nine months of 2025, with ample authorization remaining.The Middleby Corporation (MIDD) is well-positioned to benefit from strength in the Food Processing Equipment Group segment and accretive acquisitions. The company’s shareholder-friendly moves ...

Company Overview - Middleby Corporation is a $7.5 billion company that generated $3.88 billion in total revenue last year, highlighting the importance of food and kitchens in daily life [2] - The company operates in three business segments: food service, residential, and food processing, with over 120 brands in the market [3] Recent Developments - On December 4, Middleby announced the sale of a 51% stake in its Residential Kitchen business to 26North Partners LP for $885 million, allowing the company to focus on its core business of commercial foodservice equipment [1] - The transaction is expected to be completed during the first half of 2026 [1] Financial Performance - In the last reported financial quarter (3Q25), Middleby had revenues of $982.13 million, which is a 4% increase year-over-year and $21 million above forecasts [6] - The non-GAAP EPS for the same period was $2.37, up 4 cents from the prior year and 30 cents above estimates [6] Analyst Insights - Jefferies analyst Saree Boroditsky upgraded Middleby to a Buy rating, citing a recovery in commercial foodservice demand as a key catalyst for growth [7] - The standalone Commercial Foodservice business is expected to generate double-digit growth, with potential earnings exceeding $8.50 per share by 2027 [7] - The new price target for Middleby is set at $175, raised from $130, indicating a one-year upside potential of 19% [7] - The stock currently has a Moderate Buy consensus rating, based on 6 recent recommendations, including 4 Buys and 1 Hold [7]

Core Insights - U.S. stocks exhibited mixed performance, with the Nasdaq Composite declining by over 100 points on Wednesday [1] - Daktronics, Inc. reported quarterly earnings of 35 cents per share, surpassing the analyst consensus estimate of 27 cents per share, and quarterly sales of $229.253 million, exceeding the consensus estimate of $214.077 million [1] Company Performance - Daktronics shares surged by 15.7% to $20.80 following the positive earnings report [2] - Photronics, Inc. saw its shares increase by 44% to $37.00 after reporting better-than-expected fourth-quarter results and issuing optimistic first-quarter guidance [3] - Nextdoor Holdings, Inc. gained 24.6% to $2.5050 after a positive social media mention regarding its valuation [3] - Braze, Inc. rose by 17.5% to $36.00 after raising its FY2026 adjusted EPS and sales guidance [3] - Dave & Buster's Entertainment, Inc. jumped 14% to $20.50 following its third-quarter results [3] - SuperX AI Technology Limited's shares increased by 13.8% to $19.63 [3] - GE Vernova Inc. rose by 11.8% to $699.59 after raising its FY28 outlook and dividend, along with expanding its buyback authorization [3] - DBV Technologies S.A. gained 11.2% to $19.09 [3] - Warby Parker Inc. rose by 11% to $25.77 [3] - Dyne Therapeutics, Inc. increased by 10.5% to $20.38 after announcing a $350 million public offering [3] - ABIVAX Société Anonyme rose by 8.6% to $133.24 [3] - Olema Pharmaceuticals, Inc. gained 8.1% to $28.67 [3] - The Middleby Corporation rose by 6.3% to $137.15 after an upgrade from Jefferies [3] - EchoStar Corporation increased by 5.6% to $98.80 following an upgrade from Morgan Stanley [3]

Core Viewpoint - Middleby is optimizing its portfolio through a residential joint venture with 26North, aiming to unlock significant shareholder value [2]. Group 1: Business Strategy - The residential platform began with the acquisition of Viking, with the goal of bringing professional kitchen experiences into homes [2]. - The company has focused on expanding its residential platform through acquisitions, product innovation, and leveraging its existing brand portfolio [2]. Group 2: Market Outlook - Despite challenges in the end markets and current tariff-related uncertainties, Middleby believes there is potential for sustainable long-term growth in the residential segment [3]. - The company has developed a unique business platform with a strong collection of industry-leading brands, including Viking, AGA Rangemaster, La Cornue, Kamado Joe, and U-Line [3]. Group 3: Rationale for Divestment - The decision to divest a portion of the business was initiated over a year ago as part of a strategy to enhance the overall business [4].

The Middleby (NasdaqGS:MIDD) M&A Announcement December 04, 2025 08:30 AM ET Company ParticipantsJeff Hammond - Managing DirectorTami Zakaria - Executive DirectorTim FitzGerald - CEOConference Call ParticipantsBryan McNamara - Managing Director and Senior AnalystMircea Dobre - Managing Director and Senior AnalystOperatorGood morning, everyone, and welcome to Middleby's conference call to discuss its residential joint venture. At this time, all participants are in a listen-only mode. Later, you will have the ...

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Residential Kitchen Majority Sale Announcement December 4, 2025 1 Cautionary statements Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," " ...

The Middleby Corporation (MIDD) has announced that affiliates of 26North Partners have agreed to purchase a 51% controlling interest in Middleby’s Residential Kitchen business at a valuation of $885 million. Middleby will own a 49% non-controlling interest in the new standalone ...

NEW YORK--(BUSINESS WIRE)--26North and Middleby announced that affiliates of 26North have agreed to purchase a controlling interest in Middleby's Residential Kitchen business. ...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation ("Middleby†) (NASDAQ: MIDD) today announced entry into a definitive agreement under which it will sell a 51% stake in its Residential Kitchen business to affiliates of 26North Partners LP ("26North†) in a transaction valuing Residential Kitchen at $885 million. Following this transaction, Middleby will own a 49% non-controlling interest in a new standalone joint venture holding the Residential Kitchen business, while receiving upfront cash. ...