Middleby Q1 revenue rises 15% and beats estimates
Middleby Corporation MIDD | 0.00 |
Overview
US food equipment maker's Q1 revenue rose 15%, beating analyst expectations
Adjusted EBITDA for Q1 beat analyst expectations
Company repurchased 2.4 mln shares, about 4.9% of equity, in Q1
Outlook
Middleby raises FY 2026 guidance; sees revenue at $3.36-3.44 bln
Result Drivers
COMMERCIAL FOODSERVICE GROWTH - Organic sales in Commercial Foodservice rose 8.1%, driven by double-digit growth with dealer partners and improved performance with chain customers
FOOD PROCESSING MOMENTUM - Food Processing segment delivered 25% organic sales growth, with order growth and backlog expansion, according to the company
ICE AND BEVERAGE INVESTMENTS - Strategic investments in ice and beverage categories helped capitalize on industry trends, per CEO Tim FitzGerald
Company press release: ID:nBw1fYtqma
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Sales |
Beat |
$839.91 mln |
$777.71 mln (8 Analysts) |
Q1 Net Income |
|
-$50.07 mln |
|
Q1 Adjusted EBITDA |
Beat |
$181 mln |
$170.40 mln (7 Analysts) |
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