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The Middleby Corp (MIDD)
NASDAQ:MIDD
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.98Last Year’s EPS
1.89Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 25, 2025
|% Change Since: -3.91%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant strategic moves, including the separation of the Food Processing business to enhance value and growth. Despite strong cash flow and innovative product developments, revenue declines in key segments and macroeconomic challenges were noted. The sentiment is balanced with optimism for future growth through strategic initiatives.Company Guidance
During the Fourth Quarter 2024 Earnings Call, Middleby Corporation provided extensive guidance for their strategic plans and financial metrics. CEO Tim FitzGerald announced the decision to separate the Middleby Food Processing business into a stand-alone public company, aiming to unlock greater value and growth opportunities for both the food processing and kitchen equipment segments. The company reported that revenues for 2024 were approximately $3.9 billion, with adjusted EBITDA at $866 million, representing a 22.4% margin. The Food Processing segment achieved an impressive adjusted EBITDA margin of 25.6%. The company also declared GAAP earnings per share of $7.90 and adjusted EPS of $9.49. For Q4, Middleby reported revenues exceeding $1 billion and a record adjusted EBITDA margin of 24.8%. Free cash flow for the fourth quarter was $229 million, contributing to a record total of $640 million for the year. Middleby expects organic revenue growth in the low single digits for 2025, with profitability growth outpacing revenue growth, while maintaining a focus on strategic M&A activities and shareholder value enhancement through stock repurchases.Record Free Cash Flow
The company achieved a record free cash flow of over $640 million for the year, with $229 million in the fourth quarter alone, demonstrating strong cash generation capabilities.
Food Processing Segment Performance
The Food Processing segment reported 4.7% organic revenue growth in Q4, with revenues over $219 million and an adjusted EBITDA margin of 29.6%, up 200 basis points from the prior year.
Board Expansion and Refreshment
The addition of two new Board members, Julie Bauman and Ed Garden, brings relevant operating and director experience, enhancing strategic guidance for the company.
Separation of Food Processing Business
The decision to separate the Middleby Food Processing business into a stand-alone company aims to unlock further value and growth opportunities for both the Food Processing and Kitchen Equipment businesses.
Strong Q4 Margins
The company closed 2024 with its strongest margins of the year across all three business segments, despite challenging macro conditions in commercial and residential sectors.
Innovative Product Launches
New innovations in ice and beverage categories and advancements in automation, ventless kitchens, electrification, and IoT connectivity are driving growth opportunities.
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MIDD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MIDD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 25, 2025 | $168.15 | $169.25 | +0.65% |
| Oct 31, 2024 | $140.38 | $129.70 | -7.61% |
| Aug 01, 2024 | $135.58 | $144.36 | +6.48% |
| May 08, 2024 | $141.83 | $138.58 | -2.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does The Middleby Corp (MIDD) report earnings?
The Middleby Corp (MIDD) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is The Middleby Corp (MIDD) earnings time?
The Middleby Corp (MIDD) earnings time is at May 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MIDD EPS forecast?
MIDD EPS forecast for the fiscal quarter 2025 (Q1) is 1.98.
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