Middleby (NASDAQ:MIDD) Releases Earnings Results, Beats Expectations By $0.15 EPS

Middleby (NASDAQ:MIDD) issued its quarterly earnings data on Thursday. 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 14.66% and a negative net margin of 5.22%.The firm had revenue of $866.43 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $2.88 EPS. Middleby’s quarterly 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 Trading Up 5.8%

NASDAQ MIDD traded up $9.22 on Thursday, hitting $167.00. 1,159,920 shares of the stock were exchanged, compared to its average volume of 520,049. The company’s 50-day moving average price is $154.54 and its two-hundred day moving average price is $139.16. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of -37.95 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.07 and a quick ratio of 1.10. Middleby has a 52-week low of $110.82 and a 52-week high of $168.85.

More Middleby News

Here are the key news stories impacting Middleby this week:

• Positive Sentiment: Quarterly earnings beat — Middleby reported EPS of $2.42 vs. consensus $2.27, showing continued profitability improvement and helping sentiment despite tougher revenue comparisons. Middleby (MIDD) Beats Q4 Earnings Estimates
• Positive Sentiment: Spin‑off and leadership clarity — Management announced the Food Processing Group will become an independent public company in Q2 2026 and named Mark Salman CEO of that business (Mark Bowie as COO). That reduces conglomerate complexity and gives investors clearer, pure‑play options. Middleby Names Mark Salman to Lead Food Processing Business as Chief Executive Officer; Mark Bowie Named Chief Operating Officer
• Positive Sentiment: Portfolio optimization and revenue target — Management outlined a focused FY2026 revenue target ($3.27B–$3.36B) as it accelerates portfolio optimization, which supports a narrative of disciplined capital allocation and higher margin mix. Middleby outlines $3.27B–$3.36B 2026 revenue target as portfolio optimization accelerates
• Neutral Sentiment: Short interest fell meaningfully in February (down ~19%), reducing a potential source of selling pressure and compressing a bearish tail risk. What’s Behind a New $6.5 Million Bet on Middleby With Stock Down 5% in One Year?
• Neutral Sentiment: Net sales growth but mixed metrics — Q4 revenue rose ~4–5% year‑over‑year (reported ~$866.4M), showing top‑line growth but the dollar figure missed analyst revenue estimates. The Middleby Corp Net Sales Grow 5% in Q4
• Negative Sentiment: Revenue miss and downward guidance — Q4 revenue came in below Street estimates (~$866M vs. ~$1.01B est.) and management issued lighter revenue guidance for Q1 and FY2026 (FY revenue ~$3.3B–$3.4B vs. consensus ~ $4.0B), which is the main near‑term headwind for the stock. Middleby (NASDAQ:MIDD) Reports Sales Below Analyst Estimates In Q4 CY2025 Earnings
• Neutral Sentiment: Full earnings materials and call transcript are available for investors who want detail on segment performance and margin drivers. Middleby (MIDD) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Index/fund flow note — Fiscal adjustments tied to Middleby can affect Nasdaq index fund weightings; this is a technical factor that may amplify moves but is not a fundamental driver. Middleby (NASDAQ:MIDD) Fiscal Adjustments Influence Nasdaq Index Fund Trends

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MIDD shares. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. upped their target price on Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. KeyCorp reissued an “overweight” rating on shares of Middleby in a report on Friday, December 5th. Zacks Research downgraded Middleby from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Canaccord Genuity Group set a $187.00 price target on shares of Middleby and gave the company a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Middleby currently has a consensus rating of “Moderate Buy” and an average price target of $165.83.

Insider Buying and Selling at Middleby

In other Middleby news, Director Robert A. Nerbonne bought 780 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 21,471 shares of the company’s stock, valued at approximately $2,759,452.92. The trade was a 3.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.18% of the company’s stock.

Institutional Trading of Middleby

A number of institutional investors and hedge funds have recently made changes to their positions in MIDD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Middleby by 90.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 205 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Middleby by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company’s stock valued at $23,884,000 after acquiring an additional 9,936 shares during the period. Focus Partners Wealth grew its position in shares of Middleby by 344.7% in the first quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 1,727 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Middleby by 280.2% in the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 241 shares during the period. Finally, Cresset Asset Management LLC bought a new position in shares of Middleby in the second quarter worth about $202,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

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.