The Middleby Corporation (MIDD) reported first-quarter 2025 adjusted earnings of $2.08 per share, which beat the Zacks Consensus Estimate of $1.94. The bottom line increased 10.1% year over year due to lower costs.Net revenues of $906.6 million missed the consensus estimate of $941 million. The top line decreased 2.2% year over year. Organic sales decreased 3.8%. Acquired assets increased sales by 2.4%, while movements in foreign currencies had a negative impact of 0.8%. (Find the latest EPS estimates and s ...

The Middleby (MIDD) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Company Participants Timothy FitzGerald - CEOBryan Mittelman - Chief Financial OfficerJeffrey Hammond - Managing DirectorSteve Spittle - Chief Commercial OfficerNone - Executive Conference Call Participants Walter Liptak - Industry AnalystMircea Dobre - Associate Director of Research & Senior Research AnalystTim Thein - Managing Director & Research AnalystTami Zakaria - AnalystBrian McNamara - MD & Senior Analyst - Consumer Operator Good day ...

The Middleby (MIDD) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Speaker0 Good day, and welcome to the Middleby Corporation First Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to Mr. Timothy Fitzgerald, CEO. Please go ahead. Speaker1 Thank you for joining today's call. I'd like to begin by high ...

Here is how Middleby performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: View all Key Company Metrics for Middleby here>>> Shares of Middleby have returned +8.2% over the past month versus the Zacks S&P 500 composite's +10.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Middleby (MIDD) reported $906.63 million in revenue for the quarter ended M ...

Middleby (MIDD) came out with quarterly earnings of $2.08 per share, beating the Zacks Consensus Estimate of $1.94 per share. This compares to earnings of $1.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.22%. A quarter ago, it was expected that this food preparation equipment company would post earnings of $2.50 per share when it actually produced earnings of $2.88, delivering a surprise of 15.20%.Over the last four qua ...

Q1 Earnings Update May 7, 2025 1 MIDDLEBY SHARE REPURCHASE STRATEGIC PRIORITIZATION OF CAPITAL TO MIDDLEBY SHARE REPURCHASES www.middleby.com 2 Vast majority of free cash flow will be deployed to Middleby share repurchases Strategic step underscores strong confidence in our business; share price does not reflect long-term inherent value Repurchases to complement ongoing priority of realizing Organic Growth from Innovation & Go-to-Market Investments Acquisitions on a highly opportunistic and strategic basis ...

1400 Toastmaster Drive, Elgin, Illinois 60120 (847) 741-3300 www.middleby.com The Middleby Corporation Reports First Quarter Results and Board of Directors Increases Share Buyback Authorization to 21% of Equity Elgin, Ill, May 7, 2025 - 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 2025. Middleby further announced an acceleration t ...

Company Overview - The Middleby Corporation (MIDD) shares increased by 14.7% to close at $143.55, following a period of 19.4% loss over the past four weeks, indicating a significant rebound in stock performance [1] - The rally is attributed to strong momentum in the Food Processing Equipment Group segment, supported by a robust backlog and strong incoming order growth [2] Financial Performance - Middleby is expected to report quarterly earnings of $1.94 per share, reflecting a year-over-year increase of 2.7%, with revenues projected at $943.61 million, up 1.8% from the previous year [3] - The consensus EPS estimate has been revised 0.8% higher in the last 30 days, suggesting a positive trend that may lead to price appreciation [4] Industry Context - Middleby operates within the Zacks Manufacturing - General Industrial industry, where another company, Xometry (XMTR), also experienced a significant stock increase of 14.1% [4] - Xometry's EPS estimate for the upcoming report remains unchanged at $0, representing a 100% increase compared to the previous year's EPS [5]

Core Viewpoint - The Middleby Corporation (MIDD) is experiencing positive momentum in its Food Processing Equipment Group segment, supported by strategic acquisitions and consistent shareholder rewards through dividends [1][3]. Group 1: Business Strength - The Food Processing Equipment Group segment is showing solid momentum, with a robust backlog and strong incoming order growth, particularly driven by increased demand for bakery and protein products in European markets [3]. - Sales in this segment increased by 14.4% year over year in the fourth quarter of 2024 [3]. Group 2: New Product Introduction - Middleby is focused on launching new products and upgrading existing ones, having introduced several new products over the past year, including MP Equipment and PIZZABOT [4]. - The company is gaining market share in new product categories, particularly in beverage and ice, and is well-positioned to benefit from strong demand for ventless cooking products [4]. Group 3: Expansion Efforts - Middleby is expanding its market presence through acquisitions, which contributed to a 2.1% year-over-year sales increase in the fourth quarter of 2024 [5]. - Recent acquisitions include Gorreri Food Processing Technology and JC Ford, which are expected to enhance Middleby's capabilities in advanced baked goods and snack food categories, respectively [5][6]. - The acquisition of Emery Thompson improved the company's offerings in the frozen dessert category, while the buyout of GBT GmbH Bakery Technology strengthened its European presence in large-scale baking [6]. Group 4: Stock Performance - Shares of Middleby have gained 2.6% over the past six months, contrasting with an 18% decline in the industry [7].

Core Insights - The Middleby Corporation announced a strategic separation of its Food Processing business into a stand-alone public company, expected to be completed by early 2026, creating two focused entities: Middleby Corporation (RemainCo) and Middleby Food Processing (SpinCo) [2][3] Financial Performance - The Food Processing segment has achieved an $800 million revenue run rate with 24% margins, indicating its readiness to operate as an independent entity [3] - Middleby reported its strongest margins of the year in Q4, with adjusted EBITDA reaching a record 24.8% [4] - The Food Processing segment achieved a 29.6% adjusted EBITDA margin in Q4, up 200 basis points year-over-year [5] - The Residential segment showed signs of recovery with Q4 revenue of $185 million, reflecting a year-over-year decline of only 2.4%, and achieved its highest margin in 18 months at 13% [6] Innovation and Growth Initiatives - Middleby is focusing on innovation, showcasing nine live cooking demonstrations at the NAFEM show, including high-volume restaurants powered by digital robotic automation [6][8] - The company introduced a new profitability tool designed to help restaurant operators optimize frying processes [7] Cash Flow and Financial Health - Middleby generated record free cash flow of $229 million in Q4 and over $640 million for the full year, achieving a 140% free cash flow conversion rate [9] - The company reduced inventory by over $250 million in two years, with operating cash flows of $687 million for the year [9] Future Outlook - For 2025, management projects low single-digit organic revenue growth with profitability expected to grow faster than revenue, particularly in the Food Processing business, which is anticipated to deliver mid-single-digit organic growth [10] - The Commercial and Residential business will continue to focus on strategic growth initiatives in automation, electrification, and digital technologies, while Food Processing will pursue expansion into adjacent markets and strategic acquisitions [11]