Middleby (NASDAQ:MIDD – Get Free Report) released its earnings results on Thursday. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15, Briefing.com reports. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The company had revenue of $866.43 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $2.88 EPS. Middleby’s quarterly revenue was up 4.5% compared to the same quarter last year. 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
Shares of MIDD opened at $167.00 on Friday. Middleby has a one year low of $110.82 and a one year high of $168.85. The stock’s fifty day moving average is $154.54 and its 200-day moving average is $139.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 2.07. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -37.95 and a beta of 1.40.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on Middleby
Middleby News Roundup
Here are the key news stories impacting Middleby this week:
- Positive Sentiment: Q4 EPS beat — Middleby reported $2.42 EPS vs. consensus $2.27, topping estimates (helping show underlying profitability strength). Middleby (MIDD) Beats Q4 Earnings Estimates
- Positive Sentiment: Revenue and sales growth: net sales increased ~5% year-over-year in Q4, showing modest top‑line expansion even as consensus was missed. The Middleby Corp Net Sales Grow 5% in Q4
- Positive Sentiment: Corporate actions: management named leadership for the Food Processing Group ahead of an expected independent public separation in Q2 2026 — a potential value‑unlock / strategic positive. Middleby Names Mark Salman to Lead Food Processing Business as Chief Executive Officer; Mark Bowie Named Chief Operating Officer
- Positive Sentiment: Short interest dropped ~19% in February (to ~4.2% of float), reducing immediate short‑squeeze risk and indicating less bearish positioning.
- Neutral Sentiment: Full earnings materials published (call transcript and slide deck) — useful for investors wanting granularity on segment trends, margin drivers and settle‑out of one‑time items. The Middleby Corporation (MIDD) Q4 2025 Earnings Call Transcript
- Negative Sentiment: Q4 revenue miss — Company reported $866.4M vs. consensus ~$1.01B, a sizable shortfall that pressured sentiment despite the EPS beat. Middleby (NASDAQ:MIDD) Reports Sales Below Analyst Estimates In Q4 CY2025 Earnings
- Negative Sentiment: Weaker guidance — Q1 revenue guide of $760M–$788M and FY revenue guide ~$3.3B–$3.4B are well below consensus (~$932M Q1 / ~$4.0B FY), and FY EPS guidance (9.20–9.36) is slightly below street expectations; this is the main driver of the down move. Middleby outlines $3.27B–$3.36B 2026 revenue target as portfolio optimization accelerates
- Negative Sentiment: Market reaction note — coverage highlights the stock edging down on the revenue miss and guidance despite the EPS beat, reflecting investor focus on top‑line visibility. Middleby stock edges down on revenue miss despite earnings beat
Insider Buying and Selling at Middleby
In related news, Director Robert A. Nerbonne purchased 780 shares of Middleby stock in a transaction dated Tuesday, December 9th. The stock was bought at an average cost of $128.52 per share, with a total value of $100,245.60. Following the purchase, the director owned 21,471 shares in the company, valued at approximately $2,759,452.92. The trade was a 3.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.18% of the company’s stock.
Institutional Trading of Middleby
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Middleby by 49.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,772,249 shares of the industrial products company’s stock worth $858,161,000 after purchasing an additional 1,902,957 shares in the last quarter. Invesco Ltd. lifted its stake in Middleby by 1,046.4% in the third quarter. Invesco Ltd. now owns 1,018,536 shares of the industrial products company’s stock valued at $135,394,000 after acquiring an additional 929,688 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Middleby by 4,256.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 722,137 shares of the industrial products company’s stock worth $107,361,000 after purchasing an additional 705,560 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Middleby by 260.0% during the 3rd quarter. Marshall Wace LLP now owns 419,936 shares of the industrial products company’s stock valued at $55,822,000 after purchasing an additional 303,293 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Middleby by 92.9% in the 4th quarter. Morgan Stanley now owns 600,687 shares of the industrial products company’s stock valued at $89,304,000 after purchasing an additional 289,326 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors.
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.
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