Middleby (NASDAQ:MIDD) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Middleby (NASDAQ:MIDD) issued its earnings results on Thursday, February 26th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15, Briefing.com reports. Middleby had a positive return on equity of 14.57% and a negative net margin of 7.44%.The business had revenue of $334.58 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $2.88 EPS. Middleby’s revenue was up 4.5% on a year-over-year basis. Middleby updated its FY 2026 guidance to 9.200-9.360 EPS and its Q1 2026 guidance to 1.900-2.020 EPS.

Here are the key takeaways from Middleby’s conference call:

• The company sold a 51% stake in its Residential Kitchen business to 26North at an $885 million enterprise valuation, receiving approximately $565 million in cash proceeds while retaining a 49% stake and treating the JV as discontinued operations going forward.
• Middleby executed aggressive capital returns, repurchasing $710 million of stock in 2025 (reducing shares outstanding by ~9%) and repurchasing an additional ~$250 million in early 2026, with plans to continue buybacks into 2026.
• Management plans to separate Food Processing into an independent public company by the end of Q2, positioning Commercial Foodservice to operate with ~27% segment EBITDA margins and Food Processing as a growth platform targeting >20% segment EBITDA margins.
• Operational momentum: combined revenue for the two core segments was ~$866 million in Q4 with adjusted EBITDA of ~$197 million (adjusted EPS $2.14 for the quarter), while Food Processing reported strong order intake (Q4 orders ~$322 million) and a record backlog of ~$410 million.
• Headwinds remain from tariffs and higher interest costs — tariffs reduced Q4 EBITDA by ~$7 million and timing will likely cause margin dilution in H1 2026 despite pricing actions, while higher post-maturity interest expense creates an approximate $0.34 EPS headwind for full-year 2026.

Middleby Price Performance

MIDD opened at $132.58 on Wednesday. The business’s 50-day moving average is $151.55 and its two-hundred day moving average is $140.75. Middleby has a 1 year low of $110.82 and a 1 year high of $169.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.57 and a quick ratio of 1.92. The firm has a market capitalization of $6.26 billion, a PE ratio of -23.14 and a beta of 1.36.

Analyst Ratings Changes

Several research firms recently weighed in on MIDD. Zacks Research downgraded Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Robert W. Baird boosted their price target on shares of Middleby from $159.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.14.

Institutional Trading of Middleby

A number of institutional investors have recently modified their holdings of the company. Federation des caisses Desjardins du Quebec raised its stake in shares of Middleby by 2.2% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,317 shares of the industrial products company’s stock worth $642,000 after acquiring an additional 91 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Middleby by 7.6% in the third quarter. Cresset Asset Management LLC now owns 1,509 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 107 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Middleby by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,530 shares of the industrial products company’s stock worth $971,000 after purchasing an additional 114 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Middleby by 135.6% in 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. Finally, Syon Capital LLC increased its position in shares of Middleby by 8.3% during the fourth quarter. Syon Capital LLC now owns 2,585 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 199 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Middleby Company Profile

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.