Welcome to our dedicated page for Middleby news (Ticker: MIDD), a resource for investors and traders seeking the latest updates and insights on Middleby stock.
The Middleby Corporation (NASDAQ: MIDD) is a leading company in the commercial and residential cooking, as well as industrial food processing equipment sectors. Based in Elgin, Illinois, USA, Middleby is renowned for its innovative and high-quality products that serve a wide array of industries.
Core Business Segments:
- Commercial Foodservice Equipment Group: Middleby supplies cooking equipment to 97 of the top 100 foodservice chains in the United States and internationally. This segment is the primary revenue driver for the company, reflecting its strong market presence and reliability.
- Food Processing Equipment Group: This division manufactures equipment for food preparation, cooking, packaging, and safety, catering to the diverse needs of the food processing industry.
- Residential Kitchen Equipment Group: Offering a range of premium kitchen appliances, this segment provides products such as ranges, ovens, refrigerators, dishwashers, microwaves, cooktops, and outdoor cooking equipment from leading brands like Viking, TurboChef, and Jade.
Achievements and Recognition: Middleby has received numerous accolades, including 'Forbes Best Small Company,' 'Business Week Hot Growth Company,' and 'Fortune Fastest Growing Company.' These awards underscore its commitment to excellence and growth.
Financial Performance and Partnerships: Middleby maintains a robust financial position supported by strategic partnerships and continuous innovation. Its recent ventures include collaborations with Powerhouse Dynamics to enhance energy efficiency and operational management through IoT solutions like DemandSmart, Open Kitchen®, and SiteSage®.
Recent Developments:
- April 19, 2024: The Middleby Corporation was featured as 'Stock to Study' by BetterInvesting Magazine, highlighting its strong fundamentals and growth potential.
- April 30, 2024: Powerhouse Dynamics, a Middleby company, announced the installation of its AI-powered DemandSmart Solution across various client locations, promoting energy savings and sustainability.
Middleby’s commitment to innovation, quality, and customer satisfaction makes it a significant player in its industries, continually pushing the boundaries of foodservice and residential kitchen technologies.
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Middleby (MIDD) announced the schedule for its 2024 first quarter earnings release and conference call. The earnings will be disclosed on May 8, followed by a conference call to discuss the results. Investors can access the call through the company's website or by phone.
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BetterInvesting™ Magazine Update highlights The Middleby Corp. as 'Stock to Study' and UnitedHealth Group as 'Undervalued Stock'. Ken Zendel emphasizes the importance of focusing on fundamentals for investors.
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The Middleby Corporation (MIDD) reported record Q4 Adjusted EBITDA of $235 million, a 1% increase YoY, and YTD Adjusted EBITDA of $900 million, a 6% increase YoY. Operating cash flows reached $256 million for the quarter and $629 million for the year. The company achieved an organic adjusted EBITDA margin of 23.6%, with diluted earnings per share of $1.42 and adjusted net earnings per share of $2.65 for the fourth quarter, a 3% YoY increase.
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Middleby Corporation (MIDD) has acquired GBT GmbH Bakery Technology, a German company specializing in industrial baking and bread lines, with annual revenues of approximately €10 million. The acquisition is expected to strengthen Middleby's European presence in large-scale baking and expand its offerings and customer base with new full line solutions.
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Middleby Corporation (MIDD) is set to release its 2023 fourth quarter earnings on February 20, with a scheduled conference call to discuss the results. The call will be accessible through the Investor Relations section of the company website or by phone. Investors and analysts are eagerly anticipating the financial performance of the company for the quarter.
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Middleby Corporation (NASDAQ: MIDD) has expanded its Board of Directors with the appointment of Stephen Scherger and Tejas Shah. Scherger, the CFO of Graphic Packaging Holding Company, brings extensive business expertise in audit, acquisitions, distribution, and capital strategies. Shah, the Global CIO of Fluence Energy, has deep knowledge of cybersecurity and IoT. The addition of these two members is expected to enhance Middleby's risk management, cybersecurity, innovation, acquisitions, and ESG matters, supporting the company's strategic growth and expansion.
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Middleby Corporation (NASDAQ: MIDD) reported Q3 adjusted EBITDA of $224 million, a $11 million increase year over year. Record LTM adjusted EBITDA of $896 million, an $83 million increase over the prior year. Key acquisitions of Terry Water Solutions and Trade-Wind. Despite market challenges, net sales decreased by 1.2% and organic net sales decreased by 4.4% in Q3 2023. The company's CEO, Tim FitzGerald, expressed confidence in long-term growth initiatives and profitability goals.
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The Middleby Corporation (NASDAQ: MIDD) will release its 2023 third quarter earnings on November 8. A conference call to discuss the results will be held at 11 a.m. Eastern/10 a.m. Central Time on the same day. The conference call can be accessed through the Investor Relations section of the company website or by dialing (833) 630-1956 (US) or (412) 317-1837 (International).
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Middleby Corporation (NASDAQ: MIDD) reported a 3% increase in revenue year over year, with adjusted EBITDA of $229 million, marking a 9% increase. The company also completed acquisitions of Blue Sparq and Filtration Automation, showing solid results and margin expansion, while managing near-term challenges in the housing market. Organic net sales decreased 2.3%, but the company remains optimistic about strong underlying demand and a robust pipeline of new opportunities.
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FAQ
What is the current stock price of Middleby (MIDD)?
The current stock price of Middleby (MIDD) is $134.72 as of December 20, 2024.
What is the market cap of Middleby (MIDD)?
The market cap of Middleby (MIDD) is approximately 7.2B.
What are the core business segments of Middleby Corporation?
Middleby's core business segments are the Commercial Foodservice Equipment Group, the Food Processing Equipment Group, and the Residential Kitchen Equipment Group.
Which brands are part of Middleby’s residential kitchen equipment?
Middleby's residential kitchen equipment includes brands like Viking, TurboChef, and Jade.
What recent awards has Middleby Corporation received?
Middleby has been recognized as 'Forbes Best Small Company,' 'Business Week Hot Growth Company,' and 'Fortune Fastest Growing Company.'
What is Middleby’s main source of revenue?
Middleby's main source of revenue comes from its Commercial Foodservice Equipment Group.
What recent developments have taken place at Middleby?
Recent developments include Middleby being named 'Stock to Study' by BetterInvesting Magazine and the installation of AI-powered DemandSmart Solution by Powerhouse Dynamics.
Where is Middleby Corporation headquartered?
Middleby Corporation is headquartered in Elgin, Illinois, USA.
What types of products does Middleby offer in its Food Processing Equipment Group?
Middleby’s Food Processing Equipment Group offers equipment for food preparation, cooking, packaging, and food safety.
Who are Middleby's primary clients in the Commercial Foodservice Equipment Group?
Middleby’s primary clients in this segment include 97 of the top 100 foodservice chains in the United States and internationally.
What are some applications of Middleby’s IoT solutions?
Middleby’s IoT solutions, including Open Kitchen® and SiteSage®, are used to reduce energy, operational, and equipment costs in multi-site foodservice and retail facilities.
What is the DemandSmart Solution by Powerhouse Dynamics?
The DemandSmart Solution is an AI-powered system that helps clients save energy costs and generate revenue by optimizing energy use during peak demand times.
Middleby Corp
Nasdaq:MIDD
MIDD Rankings
MIDD Stock Data
7.16B
53.11M
1.26%
103.02%
4.77%
Specialty Industrial Machinery
Refrigeration & Service Industry Machinery
United States of America
ELGIN