Middleby Q1 revenue rises 15% and beats estimates

Middleby Corporation

Middleby Corporation

MIDD

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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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