Middleby (MIDD) Stock

Middleby is experiencing challenges in its Residential Kitchen Equipment and Commercial Foodservice Equipment divisions. We have identified four industrial stocks that are likely to provide strong returns.

Middleby's earnings for the third quarter of 2024 were not as good as expected, mainly because of low growth in its biggest area, Commercial Foodservice. The ongoing struggles in consumer spending, along with high mortgage rates and increasing food prices, are hurting the restaurant sector and, in turn, Middleby's performance. Due to these ongoing issues and the absence of immediate factors that could lead to improvement, I will keep my hold rating on Middleby.

The Middleby Corporation (NASDAQ:MIDD) will hold its Q3 2024 Results Conference Call on October 31, 2024, at 11:00 AM ET. Key company participants include CEO Tim FitzGerald and CFO Bryan Mittelman, among others. After the presentation, there will be a chance for attendees to ask questions.

Middleby (MIDD) reported quarterly earnings of $2.33 per share, which is lower than the Zacks Consensus Estimate of $2.47 per share. This is a slight decrease compared to earnings of $2.35 per share from the same period last year.

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) will announce its earnings for the third quarter of 2024 on Thursday, October 31, before the market opens. A conference call to discuss these results is set for 11 a.m. Eastern/10 a.m. Central Time on the same day. You can listen to the call through the Investor Relations section of the company's website at www.middleby.com, or by calling 1-844-481-3012 if you cannot access the website.

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) has announced that it has acquired Emery Thompson, a recognized global brand in frozen dessert equipment. Based in Brooksville, Florida, Emery Thompson generates annual revenues of $10 million. "Emery Thompson is a reputable and established brand that will significantly improve our range of products in the frozen dessert sector as gelato, frozen yogurt, custard, sorbet, hard ice cream, sherbet, and Italian ice remain popular."

MIDD is expected to gain advantages from its emphasis on introducing new products. Nevertheless, there are still worries about the performance of the Residential Kitchen Equipment Group and the Commercial Foodservice Equipment Group.

MIDD benefits from having good products, valuable assets, and a strong cash position. However, the weak performance in the residential kitchen equipment market is a concern.

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