The Middleby Corp (MIDD)
NASDAQ:MIDD
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.32Last Year’s EPS
2.35Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a positive operational and strategic tone: robust top-line beats, a record quarter for Food Processing (25% organic growth), strong cash generation and an aggressive buyback program, plus clear guidance and a path to margin recovery. Offsetting risks include near-term margin pressure from tariffs and new inflationary costs (shipping/electronic controls), some Q1-to-Q2 margin softness in Commercial Foodservice, and macro uncertainty around consumer wallets. Management has plans (pricing, tariff lapses, backlog mix, M&A optionality) to mitigate pressures, and the highlights materially outweigh the headwinds.Company Guidance
Strong Consolidated Results
Total company revenue ~ $840 million in Q1 2026, adjusted EBITDA of ~ $181 million and adjusted EPS from continuing operations of $2.16, driven by outperformance across both segments.
Commercial Foodservice Outperformance
Commercial Foodservice revenue of ~ $616 million, with organic revenue growth of 8.1% in Q1 and organic adjusted EBITDA margin of 25.8%; double-digit growth in dealer/general market and improved chain demand (replacement activity and beverage momentum).
Record Food Processing Quarter
Food Processing delivered its best Q1 ever: revenue ~ $224 million, organic revenue growth of 25%, orders of $231 million, backlog of $416 million, and the fifth consecutive quarter with book-to-bill above 1.
Margin Expansion Path for Food Processing
Food Processing organic adjusted EBITDA margin of 19.5% in Q1; management cited clear visibility to improve profitability through lapping tariff headwinds, favorable backlog mix, and margin maturation of recent acquisitions.
Aggressive Capital Allocation & Share Repurchases
Share repurchases exceeding $520 million so far in 2026 (reduced shares outstanding by ~7% YTD) plus a 9% reduction in 2025; Q1 buybacks included 2.4M shares for $366M (avg $153.38) and early Q2 repurchases of 1.1M shares for $154M (avg $142).
Healthy Cash Generation and Balance Sheet Targets
Q1 operating cash flow of ~$88 million and free cash flow of ~$80 million; quarter-end leverage 2.3x. Post-spin expectations: Food Processing net leverage ~1.25x and RemainCo starting at ~2.8x and targeted to delever to ~2.5x by year-end.
Raised Confidence and Clear Guidance
Management raised near-term confidence (Investor Day & upcoming spin) and provided Q2 guidance (total revenue $815M–$850M, adjusted EBITDA $180M–$192M, adj EPS $2.27–$2.39) and full-year guidance (total revenue $3.36B–$3.44B, adjusted EBITDA $758M–$790M, adj EPS $9.54–$9.70).
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 |
|---|---|---|---|
May 07, 2026 | $142.50 | $158.23 | +11.04% |
Feb 26, 2026 | $157.78 | $167.00 | +5.84% |
Nov 06, 2025 | $123.48 | $120.06 | -2.77% |
Aug 06, 2025 | $144.71 | $118.30 | -18.25% |
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 Jul 30, 2026, Before Open (Confirmed).
What is The Middleby Corp (MIDD) earnings time?
The Middleby Corp (MIDD) earnings time is at Jul 30, 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 (Q2) is 2.32.