Middleby (MIDD) Q4 Earnings Beat, Revenues Decrease Y/Y

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 ...