The Middleby Corporation (MIDD) has been benefiting from strength in the Food Processing segment despite weakness in the Residential Kitchen Equipment Group segment and rising costs and expenses.What’s Aiding MIDD?Business Strength: Middleby is poised to benefit from a robust backlog level and strong incoming order growth. Also, the company’s initiative to introduce new products, robust product portfolio and investments in the innovation centers are driving growth. Improvements in end-market conditions and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the Fiscal Year Ended December 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 1-9973 THE MIDDLEBY CORPORATION (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification Numbe ...

The Middleby Corporation (MIDD) reported fourth-quarter 2023 adjusted earnings of $2.65 per share, which surpassed the Zacks Consensus Estimate of $2.44. The bottom line increased 3.1% year over year due to lower costs.Net sales of $1.00 billion missed the consensus estimate of $1.01 billion. The top line dipped 2.2% year over year. Organic revenues in the reported quarter decreased 4.7%. Acquired assets boosted sales by 1.3% while movements in foreign currencies had a positive impact of 1.2%.Segmental Resu ...

Middleby (MIDD) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.61%. A quarter ago, it was expected that this food preparation equipment company would post earnings of $2.29 per share when it actually produced earnings of $2.35, delivering a surprise of 2.62%.Over the last four quar ...

Wall Street analysts expect Middleby (MIDD) to post quarterly earnings of $2.44 per share in its upcoming report, which indicates a year-over-year decline of 5.1%. Revenues are expected to be $1.02 billion, down 1.2% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a com ...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) today announced the expansion of its Board of Directors with the appointment of Stephen Scherger and Tejas Shah. Mr. Scherger is Chief Financial Officer of Graphic Packaging Holding Company with extensive business expertise in audit, acquisitions, distribution, and capital strategies. Mr. Shah is Global Chief Information Officer of Fluence Energy and brings a deep knowledge of cybersecurity and IoT to the Middleby Board along with prov ...

1 Three highly synergistic foodservice segments • Differentiated go-to-market capabilities • MIDDLEBY SEGMENT SUMMARY • 2023 YTD PROFORMA REVENUE BY REGION * Latin America 2 2023 (LTM) Q3 2023 | --- | --- | --- | --- | |------------------------------------------------|-------------|-------------|--------| | (in millions, except percentages) | Q3 '23 | Q3 '22 | Change | | Net Sales | $980.7 | $992.9 | -1.2% | | Gross Profit % of Sales | 375.3 38.3% | 365.2 36.8% | 2.8% | | Operating Income | 174.4 | 161.7 | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No. 1-9973 THE MIDDLEBY CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3352497 (State or other jurisdiction of incorporation or organizat ...

Next question is from Jeff Hammond of KeyBanc. Please go ahead. Jeffrey Hammond Okay. Real helpful, Steve. Just on the resi, it seems like maybe the snapback or the bottoming process is taking a little bit longer. I'm just wondering if that's destocking being deeper? Or is it something in the order rates? I think you mentioned UK, I know on the girls side trigger was kind of out to clearing victory on destock and their stock is bouncing. Just maybe frame what's different versus maybe previous expectations? ...

Three Industry-Leading Foodservice Platforms • Technology and innovation leader Commercial 61% Food Processing 17% Residential 22% FINANCIAL RESULTS • Commercial Foodservice 11.5% • Commercial Foodservice 26.5% • Adjusted EBITDA was unfavorably impacted by foreign exchange rates for approximately $2.8 million REVENUE AND GROWTH • Strong traffic and end-user and channel engagement at NAFEM show in February www.middleby.com 4 REVENUE AND GROWTH • Strong growth seen in our new AGA ranges recently launched in U ...