Profile
Sector:
IndustrialsIndustry:
Specialty Industrial MachineryCountry:
United StatesIPO:
10 August 1987Website:
http://www.middleby.comNext earnings report:
N/ALast dividends:
02 June 2004Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 20:03:30 GMTDividend
Analysts recommendations
Institutional Ownership
MIDD Latest News
Middleby's 3Q24 earnings were disappointing, primarily due to poor organic growth in its largest segment, Commercial Foodservice. The persistent weakness in the consumer spending environment, coupled with high mortgage rates and rising food costs, is negatively impacting the restaurant industry and, consequently, Middleby's business. Given the ongoing challenges in the Commercial Foodservice segment and the lack of near-term catalysts for a significant improvement, my hold rating on Middleby is maintained.
The Middleby Corporation (NASDAQ:MIDD ) Q3 2024 Results Conference Call October 31, 2024 11:00 AM ET Company Participants Tim FitzGerald - CEO James Pool - Chief Technology Officer & Chief Operations Officer Bryan Mittelman - CFO Steven Spittle - Chief Commercial Officer Conference Call Participants Saree Boroditsky - Jefferies Mig Dobre - Baird Brian McNamara - Canaccord Genuity Jeff Hammond - KeyBanc Capital Markets Tami Zakaria - JPMorgan Walt Liptak - Seaport Global Operator Good day, and welcome to the Third Quarter 2024 Middleby Corporation Earnings Conference Call. All participants will be in listen-only mode [Operator Instructions] after today's presentation, there will be an opportunity to ask questions.
Middleby (MIDD) came out with quarterly earnings of $2.33 per share, missing the Zacks Consensus Estimate of $2.47 per share. This compares to earnings of $2.35 per share a year ago.
ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) will release 2024 third quarter earnings on Thursday, October 31 before the market opens. The company has scheduled a conference call to discuss the results at 11 a.m. Eastern/10 a.m. Central Time on October 31. The conference call is accessible through the Investor Relations section of the company website at www.middleby.com. If website access is not available, attendees can join the conference by dialing 1-844-481-3012 for.
ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Emery Thompson, a well-known, global brand in frozen dessert equipment. Located in Brooksville, Florida, the company has revenues of $10 million annually. “Emery Thompson is a highly respected, well-established brand that will greatly enhance our product offerings in the frozen dessert category. As gelato, frozen yogurt and custard, sorbet, hard ice cream, sherbet and Italian ice continue to.
MIDD is set to benefit from its focus on launching new products. However, weakness in the Residential Kitchen Equipment Group and Commercial Foodservice Equipment Group segments remains a concern.
MIDD gains from solid product offerings, acquired assets and a strong liquidity position. However, the soft residential kitchen equipment business is a woe.
Visit Booth IA-55 for a Demonstration of the Leading IoT Solution for Foodservice Operators BOSTON , Sept. 4, 2024 /PRNewswire/ -- Powerhouse Dynamics, the leader in Internet of Things (IoT)-based solutions for the foodservice industry, is pleased to announce its return as a key sponsor of the 2024 FSTEC Conference, taking place September 16-18 in Grapevine, Texas.
MIDD upgraded from sell to hold rating due to potential for strong organic growth acceleration in Commercial Foodservice segment. 2Q24 results show decline in revenue, but CF segment EBITDA margin held up well. Macro changes including lower inflation and interest rates may lead to an improved demand environment, but more data needed before confirming growth cycle.
Middleby's (MIDD) second-quarter 2024 net sales decline 4.7% year over year on account of the lackluster performance of its segments.
What type of business is Middleby?
Middleby Corporation develops, manufactures, sells, distributes, and services a range of commercial foodservice, food processing, and residential kitchen equipment. The Commercial Foodservice Equipment Group segment offers various ovens; lines, fryers, rethermalizers; equipment for steaming, etc. The Food Processing Equipment Group segment includes ovens; frying and automated thermal processing systems; dough processing, bread baking, and seeding equipment. The Residential Kitchen Equipment Group segment offers kitchen equipment including stoves, dishwashers, freezers, cooktops, wine refrigerators, ice cooling machines. The company was founded in 1888 and is located in Elgin, Illinois.
What sector is Middleby in?
Middleby is in the Industrials sector
What industry is Middleby in?
Middleby is in the Specialty Industrial Machinery industry
What country is Middleby from?
Middleby is headquartered in United States
When did Middleby go public?
Middleby initial public offering (IPO) was on 10 August 1987
What is Middleby website?
https://www.middleby.com
Is Middleby in the S&P 500?
No, Middleby is not included in the S&P 500 index
Is Middleby in the NASDAQ 100?
No, Middleby is not included in the NASDAQ 100 index
Is Middleby in the Dow Jones?
No, Middleby is not included in the Dow Jones index
When was Middleby the previous earnings report?
No data
When does Middleby earnings report?
Next earnings report date is not announced yet