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The Middleby Corp (MIDD)
NASDAQ:MIDD
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.01Last Year’s EPS
2.08Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated several transformative, shareholder‑friendly actions and solid operational results: a value‑accretive sale of the Residential business with retained upside, aggressive buybacks reducing shares by ~9%, Q4 revenue and EBITDA beats, strong Food Processing order momentum and a clear plan to spin the segments into focused public companies. Offsetting these positives are persistent tariff headwinds (Q4 EBITDA impact ~$7M), continued weakness and capital‑spend deferrals among large QSRs, higher interest expense from debt maturities (~$6M/quarter), and some near‑term timing risks on backlog conversion and undisclosed spin costs. Overall, the tone is constructive with execution and capital allocation emphasized, but tempered by near‑term margin and timing pressures.Company Guidance
Residential Kitchen Transaction — Large Cash Proceeds and Retained Upside
Completed sale of a 51% stake in Residential Kitchen at an $885M enterprise valuation, delivering approximately $565M in immediate cash proceeds (subject to adjustments) while retaining a 49% ownership stake and a $135M senior note; Residential treated as discontinued operations going forward.
Aggressive Share Repurchases — Meaningful Capital Return
Repurchased $710M of stock in 2025 (4.9M shares) reducing share count by ~9% during 2025 (average price ~$144.50/share); continued repurchases into 2026 with ~1.7M shares for ~$250M (avg ~$154/share) and plans to repurchase ~another $300M in Q1 2026.
Strong Q4 Financial Performance
Total revenue for the remaining two segments of approximately $866M in Q4, adjusted EBITDA of ~$197M, adjusted EPS of $2.14 for the quarter and $8.39 for the full year 2025; Q4 operating cash flow ~$178M and free cash flow ~$165M.
Commercial Foodservice Outperformance and Margin Resilience
Commercial Foodservice revenue of ~$602M in Q4, with segment EBITDA margin reported >26% (would have exceeded 27% absent tariff impacts); outperformance driven by double‑digit dealer/general market growth, share gains with dealer partners and early traction in ice & beverage innovations.
Food Processing Order Momentum and Strong Backlog
Food Processing Q4 revenue of ~$265M and organic EBITDA margin of 23%; Q4 orders were ~$322M and backlog grew to ~$410M (record backlog) driven by Total Line Solutions, international expansion and improving order intake.
Positive Near‑term Guidance and Full‑Year Upside
Q1 2026 guidance: total revenue $760M–$788M, adjusted EBITDA $161M–$173M, adjusted EPS $1.90–$2.02 (assuming ~47.7M shares). Full‑year 2026 guidance: revenue $3.27B–$3.36B, adjusted EBITDA $745M–$780M, adjusted EPS $9.20–$9.36 — implying year‑over‑year EPS upside vs. FY2025 $8.39.
Planned Spin and Strategic Focus
Plan to separate Food Processing into a standalone public company in Q2 2026; post‑transactions Middleby positioning: Commercial Foodservice as a focused leader with expected ~27% segment EBITDA margins and Food Processing as a growth platform with >20% segment margins.
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
MIDD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Nov 06, 2025 | $123.48 | $120.06 | -2.77% |
Aug 06, 2025 | $144.71 | $118.30 | -18.25% |
May 07, 2025 | $135.38 | $131.63 | -2.77% |
Feb 25, 2025 | $168.15 | $169.25 | +0.65% |
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.
FAQ
When does The Middleby Corp (MIDD) report earnings?
The Middleby Corp (MIDD) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is The Middleby Corp (MIDD) earnings time?
The Middleby Corp (MIDD) earnings time is at May 13, 2026, Before Open (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 2026 (Q1) is 2.01.