The Middleby Corporation (NASDAQ:MIDD) Q2 2024 Results Conference Call August 1, 2024 11:00 AM ET Company Participants Timothy FitzGerald - Chief Executive Officer James Pool - Chief Technology Officer & Chief Operations Officer Bryan Mittelman - Chief Financial Officer Steve Spittle - Chief Commercial Officer Conference Call Participants Mig Dobre - Baird Brian McNamara - Canaccord Genuity Jeff Hammond - KeyBanc Capital Markets Tim Thein - Citigroup Tami Zakaria - JPMorgan Walt Liptak - Seaport Res Operato ...

Middleby (MIDD) reported $991.55 million in revenue for the quarter ended June 2024, representing a yearover-year decline of 4.7%. EPS of $2.39 for the same period compares to $2.47 a year ago. The reported revenue represents a surprise of +0.27% over the Zacks Consensus Estimate of $988.88 million. With the consensus EPS estimate being $2.27, the EPS surprise was +5.29%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

Middleby (MIDD) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 per share. This compares to earnings of $2.47 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 5.29%. A quarter ago, it was expected that this food preparation equipment company would post earnings of $2.04 per share when it actually produced earnings of $1.89, delivering a surprise of -7.35%. Over the last four qu ...

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Middleby's rally is largely driven by optimism regarding the company's focus on launching new products and upgrading the existing ones per the industry trend. Also, the acquisition of Germany-based GBT GmbH Bakery Technology bodes well. For Middleby, the consensus EPS esti ...

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This food preparation equipment company is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of -8.1%. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate f ...

The Middleby Corporation (MIDD) reported first-quarter 2024 adjusted earnings of $1.89 per share, which missed the Zacks Consensus Estimate of $2.04. The bottom line decreased 14.1% year over year due to lower sales.Net sales of $927 million missed the consensus estimate of $977 million. The top line dipped 8% year over year. Organic revenues in the reported quarter decreased 8.7%. Acquired assets boosted sales by 0.4% while movements in foreign currencies also had a positive impact of 0.4%.Segmental Result ...

For the quarter ended March 2024, Middleby (MIDD) reported revenue of $926.93 million, down 8% over the same period last year. EPS came in at $1.89, compared to $2.19 in the year-ago quarter.The reported revenue represents a surprise of -5.16% over the Zacks Consensus Estimate of $977.39 million. With the consensus EPS estimate being $2.04, the EPS surprise was -7.35%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Middleby (MIDD) came out with quarterly earnings of $1.89 per share, missing the Zacks Consensus Estimate of $2.04 per share. This compares to earnings of $2.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.35%. A quarter ago, it was expected that this food preparation equipment company would post earnings of $2.44 per share when it actually produced earnings of $2.65, delivering a surprise of 8.61%.Over the last four qua ...

1400 Toastmaster Drive, Elgin, Illinois 60120 (847) 741-3300 www.middleby.com The Middleby Corporation Reports First Quarter Results Elgin, Ill, May 8, 2024 - The Middleby Corporation (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today reported net earnings for the first quarter of 2024. "Near-term demand conditions proved to be difficult as we started 2024. We expect improved conditions for the second quart ...

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