Middleby (MIDD) Q1 Earnings & Sales Miss Estimates, Down Y/Y [Yahoo! Finance]
The Middleby Corporation (MIDD)
Last the middleby corporation earnings: 2/26 07:00 am
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US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=85145&p=irol-irhome
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Source: Yahoo! Finance
The bottom line decreased 14.1% year over year due to lower sales. Net sales of $927 million missed the consensus estimate of $977 million. The top line dipped 8% year over year. Organic revenues in the reported quarter decreased 8.7%. Acquired assets boosted sales by 0.4% while movements in foreign currencies also had a positive impact of 0.4%. Segmental Results Sales from the Commercial Foodservice Equipment Group segment (representing 63.7% of net sales) were $590.3 million, down 3.8% year over year. Our estimate was $610.8 million. Organic sales in the reported quarter decreased 4.2%. Buyouts and foreign-currency translation had a positive impact of 0.2%, each on sales. Sales from the Residential Kitchen Equipment Group segment (18.7%) totaled $173.9 million, down 21% year over year. Results were hurt by weakness in residential kitchen industry. Organic sales plunged 22.3%. Buyouts boosted sales by 0.5% while favorable foreign currency movements had a positive impact of 0.
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MIDD
News
- The Middleby Co. (NASDAQ: MIDD) was upgraded by analysts at William Blair to a "hold" rating.MarketBeat
- Multi Oven Market To Reach USD 30.1 Billion By 2032, Says DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
- The Middleby Co. (NASDAQ: MIDD) had its price target lowered by analysts at Canaccord Genuity Group Inc. from $166.00 to $159.00. They now have a "buy" rating on the stock.MarketBeat
- The Middleby Corporation (NASDAQ:MIDD) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Commercial Combi Ovens Market to Hit Valuation of USD 8,167.6 Million by 2032: Astute Analytica [Yahoo! Finance]Yahoo! Finance
MIDD
Earnings
- 5/8/24 - Miss
MIDD
Sec Filings
- 5/17/24 - Form 8-K
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- MIDD's page on the SEC website