MIDD Stock Recent News

Middleby's (MIDD) fourth-quarter 2023 results benefit from lower costs, partly offset by weakness in the residential business and housing market.

The Middleby Corporation (MIDD) Q4 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Middleby (MIDD) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Middleby (MIDD) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.57 per share a year ago.

Besides Wall Street's top -and-bottom-line estimates for Middleby (MIDD), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2023.

Middleby (MIDD) benefits from strength across its businesses, solid product offerings and acquired assets. However, softness in its residential kitchen equipment business is concerning.

The Middleby Corporation's revenues declined during the pandemic, but have since recovered to over $4 billion due to continued M&A activity. The company manufactures a wide range of equipment for the restaurant industry and has a well-diversified set of products. The valuation of The Middleby Corporation is currently below historical levels, presenting an opportunity for investors to gain exposure to the restaurant and hotel industry.

Middleby (MIDD) reported earnings 30 days ago. What's next for the stock?

Middleby's (MIDD) third-quarter 2023 results benefit from lower costs, partly offset by weakness in the residential business and housing market.

The Middleby Corporation (MIDD) Q3 2023 Earnings Call Transcript