Middleby (NASDAQ:MIDD) Releases Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Middleby (NASDAQ:MIDD) issued its earnings results on Tuesday. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.26, FiscalAI reports. The firm had revenue of $875.55 million during the quarter, compared to the consensus estimate of $836.99 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Middleby updated its Q3 2026 guidance to 1.670-1.830 EPS and its FY 2026 guidance to 6.730-6.890 EPS.

Middleby Stock Down 3.5%

MIDD stock opened at $125.68 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $149.83 and its 200 day moving average price is $148.95. Middleby has a 52 week low of $110.82 and a 52 week high of $180.13. The company has a market cap of $5.68 billion, a P/E ratio of -14.97 and a beta of 1.32.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Middleby from $185.00 to $151.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Middleby in a research note on Wednesday, July 29th. KeyCorp set a $152.00 price objective on shares of Middleby in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Middleby from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Robert W. Baird downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $169.50.

Institutional Investors Weigh In On Middleby

A number of institutional investors and hedge funds have recently modified their holdings of MIDD. Danske Bank A S acquired a new stake in shares of Middleby in the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in Middleby by 135.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 245 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Middleby during the fourth quarter worth $35,000. EverSource Wealth Advisors LLC grew its holdings in Middleby by 280.2% in the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 241 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Middleby by 90.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby News Summary

Here are the key news stories impacting Middleby this week:

• Positive Sentiment: Middleby reported second-quarter revenue of approximately $875.5 million, up 9.9% year over year and above the $837.0 million consensus estimate. Reported EPS of $2.35 also exceeded expectations of $2.09. The Middleby Corporation Reports Second Quarter Results
• Positive Sentiment: Commercial Foodservice sales reached $630.6 million, with organic growth of 8.3%. The company also repurchased 1.4 million shares during the quarter and 3.8 million shares year to date, supporting per-share value.
• Positive Sentiment: Management said results exceeded the high end of its revenue and adjusted EBITDA outlook. The completed separation of the Food Processing business into independent company Midera marks a major strategic milestone and should allow Middleby to focus on its core commercial foodservice operations.
• Neutral Sentiment: Analysts cited a consensus price target of $169.50, substantially above the stock’s recent trading level, although price targets may be revised following the weaker outlook. Middleby Receives Consensus Price Target
• Negative Sentiment: Third-quarter 2026 guidance calls for EPS of $1.67-$1.83 and revenue of $620 million-$640 million, below analyst estimates of $1.95 EPS and $696.6 million revenue.
• Negative Sentiment: Full-year 2026 guidance of $6.73-$6.89 EPS and approximately $2.48-$2.53 billion in revenue is also below consensus expectations of $8.48 EPS and $2.9 billion revenue. This outlook reset is the primary reason the stock is declining despite the quarterly beat.
• Negative Sentiment: Continuing-operations net earnings and GAAP EPS were lower than the prior-year period, while the company reported a negative net margin, highlighting ongoing profitability concerns after the business separation.

About Middleby

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.