MIDD Stock - The Middleby Corporation
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $3.88B | $4.04B | $4.03B | $3.25B | $2.51B |
| Gross Profit | $1.47B | $1.53B | $1.45B | $1.19B | $882.05M |
| Gross Margin | 37.9% | 38.0% | 35.9% | 36.8% | 35.1% |
| Operating Income | $656.19M | $634.87M | $639.60M | $629.99M | $324.43M |
| Net Income | $428.43M | $400.88M | $436.57M | $488.49M | $207.29M |
| Net Margin | 11.1% | 9.9% | 10.8% | 15.0% | 8.2% |
| EPS | $7.97 | $7.48 | $8.07 | $8.85 | $3.76 |
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions. The company's Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, formers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and food safety, food handling, freezing, and defrosting and packaging equipment for customers producing hot dog, dinner sausage, poultry, and lunchmeat, as well as muffin, cookie, and bread products. Its Residential Kitchen Equipment Group segment offers kitchen equipment comprising cookers, stoves, dishwashers, microwaves, cooktops, wine coolers, ice machines, and ventilation and outdoor equipment. The company was formerly known as Middleby Marshall Oven Company and changed its name to The Middleby Corporation in 1985. The company was founded in 1888 and is based in Elgin, Illinois.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 10th 2025 | Jefferies | Upgrade | Buy | $175 |
| November 7th 2025 | JP Morgan | Upgrade | Neutral | $125 |
| September 4th 2025 | Wolfe Research | Initiation | Outperform | $163 |
| December 12th 2024 | Jefferies | Downgrade | Hold | $160← $170 |
| June 28th 2024 | Raymond James | Initiation | Market Perform | - |
| May 22nd 2024 | JP Morgan | Downgrade | Underweight | $118← $145 |
| November 17th 2022 | Canaccord Genuity | Initiation | Buy | $171 |
| August 26th 2022 | The Benchmark Company | Initiation | Buy | $190 |
Earnings History & Surprises
MIDDEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 5, 2026 | — | — | — | — |
Q1 2026 | Feb 24, 2026 | $2.30 | — | — | — |
Q4 2025 | Nov 6, 2025 | $2.03 | $2.37 | +16.7% | ✓ BEAT |
Q3 2025 | Aug 6, 2025 | $2.20 | $2.35 | +6.8% | ✓ BEAT |
Q2 2025 | May 7, 2025 | $1.94 | $2.08 | +7.2% | ✓ BEAT |
Q1 2025 | Feb 25, 2025 | $2.50 | $2.88 | +15.2% | ✓ BEAT |
Q4 2024 | Oct 31, 2024 | $2.48 | $2.33 | -6.0% | ✗ MISS |
Q3 2024 | Aug 1, 2024 | $2.31 | $2.39 | +3.5% | ✓ BEAT |
Q2 2024 | May 8, 2024 | $2.06 | $1.89 | -8.3% | ✗ MISS |
Q1 2024 | Feb 20, 2024 | $2.44 | $2.65 | +8.6% | ✓ BEAT |
Q4 2023 | Nov 8, 2023 | $2.31 | $2.35 | +1.7% | ✓ BEAT |
Q3 2023 | Aug 3, 2023 | $2.35 | $2.47 | +5.1% | ✓ BEAT |
Q2 2023 | May 10, 2023 | $1.95 | $2.19 | +12.3% | ✓ BEAT |
Q1 2023 | Feb 21, 2023 | $2.42 | $2.57 | +6.2% | ✓ BEAT |
Q4 2022 | Nov 9, 2022 | $2.36 | $2.18 | -7.6% | ✗ MISS |
Q3 2022 | Aug 4, 2022 | $2.10 | $2.23 | +6.2% | ✓ BEAT |
Q2 2022 | May 10, 2022 | $2.12 | $2.13 | +0.5% | ✓ BEAT |
Q1 2022 | Feb 22, 2022 | $2.03 | $2.11 | +3.9% | ✓ BEAT |
Q4 2021 | Nov 9, 2021 | $2.08 | $1.92 | -7.7% | ✗ MISS |
Q3 2021 | Aug 12, 2021 | $2.07 | $2.11 | +1.9% | ✓ BEAT |
Latest News
Middleby shares are trading higher after Jefferies upgraded the stock from Hold to Buy and raised the price target from $130 to $175.
📈 PositiveJefferies Upgrades Middleby to Buy, Raises Price Target to $175
📈 PositiveCanaccord Genuity Maintains Buy on Middleby, Raises Price Target to $175
📈 PositiveMiddleby Sells 51% of Residential Kitchen Unit in $885M Deal, Collects $540M Cash Upfront and a $135M Seller Note
📈 PositiveShares of companies in the broader machinery sector are trading higher. Stocks across sectors are rising after NY Fed President Williams indicated he sees room for a further policy adjustment in the near term.
📈 PositiveBarclays Maintains Overweight on Middleby, Lowers Price Target to $168
➖ NeutralCanaccord Genuity Maintains Buy on Middleby, Lowers Price Target to $171
➖ NeutralJP Morgan Upgrades Middleby to Neutral, Lowers Price Target to $125
➖ NeutralMiddleby Raises FY2025 Adj EPS Guidance from $8.65-$9.05 to $8.99-$9.14 vs $8.86 Est; Raises FY2025 Sales Guidance from $3.810B-$3.870B to $3.850B-$3.890B vs $3.850B Est
📈 PositiveMiddleby Sees Q4 Adj EPS $2.19-$2.34 vs $2.34 Est; Sees Sales $990.000M-$1.020B vs $1.007B Est
➖ NeutralMiddleby Q3 Adj. EPS $2.37 Beats $2.07 Estimate, Sales $982.131M Beat $961.079M Estimate
📈 PositiveBarclays Maintains Overweight on Middleby, Raises Price Target to $180
📈 PositiveJP Morgan Maintains Underweight on Middleby, Raises Price Target to $140
➖ NeutralWolfe Research Initiates Coverage On Middleby with Outperform Rating, Announces Price Target of $163
📈 PositiveCanaccord Genuity Maintains Buy on Middleby, Raises Price Target to $175
📈 PositiveFrequently Asked Questions about MIDD
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