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.
The Middleby Corporation (NASDAQ: MIDD) has acquired Flavor Burst, a company specializing in innovative flavoring technology for beverages and soft serve products, based in Danville, Ind. This acquisition, valued at $5 million in annual revenue for Flavor Burst, aims to enhance Middleby’s beverage solutions and customer offerings, providing automated multi-flavor syrup dispensing that improves flavor consistency and profitability for end users. CEO Tim FitzGerald highlighted the strategic importance of Flavor Burst's technology, which aligns with Middleby's existing product lines and is already utilized in chain restaurants globally.
The Middleby Corporation (NASDAQ: MIDD) has acquired Marco Beverage Systems, a Dublin-based company specializing in energy-efficient beverage dispensing solutions, with annual revenues of
The Middleby Corporation (NASDAQ: MIDD) has released its Analyst Day presentation, now available on its investor page. The company is a global leader in the foodservice industry, offering a broad range of solutions for commercial foodservice, food processing, and residential kitchens. Middleby has been recognized as a World’s Best Employer by Forbes in 2022 and emphasizes innovation through its Middleby Innovation Kitchens. For more details, visit www.middleby.com.
The Middleby Corporation (NASDAQ: MIDD) has acquired Escher Mixers, a renowned designer and manufacturer of spiral and planetary mixers used in the industrial baking sector. Located in Vicenza, Italy, Escher boasts annual revenues of $15 million. This acquisition is expected to enhance Middleby's bakery solutions, providing integrated systems that lower operating costs and improve production efficiency. Escher's automated mixing technology is designed to optimize dough processing, contributing to high-quality bakery products with extended shelf life.
The Middleby Corporation (NASDAQ: MIDD) reported a strong third quarter with revenue of $993 million, marking a 21.5% year-over-year increase. The diluted EPS rose to $1.92 and adjusted EPS reached $2.18, up 13.5% year-over-year. Adjusted EBITDA also improved by 23.3% to $212 million, resulting in an organic adjusted EBITDA margin of 22.6%. Recent acquisitions of CP Packaging and Colussi Ermes enhance the company's offerings. Despite facing inflationary pressures and foreign exchange losses of $8.6 million, the outlook remains positive with a strong demand across segments.
The Middleby Corporation (NASDAQ: MIDD) will announce its Q3 2022 earnings on November 9, before the market opens. A conference call to discuss the results is scheduled for 11 a.m. Eastern/10 a.m. Central Time on the same day, accessible via the company's website or by phone. As a leader in the foodservice industry, Middleby manufactures solutions for commercial and residential kitchens and has received accolades like being named a World’s Best Employer by Forbes in 2022.
The Middleby Corporation (NASDAQ: MIDD) reported record quarterly results with net earnings of $113.2 million or $2.07 per share for Q2 2022, alongside net sales of $1,013.6 million, a 25.3% increase year-over-year. Adjusted earnings reached $2.23 per share. Despite ongoing supply chain disruptions and inflationary pressures related to the Ukraine conflict, the company invested in manufacturing capabilities and strategic acquisitions, enhancing its product portfolio. Foreign exchange losses of $5.7 million negatively impacted adjusted earnings per share by $0.08.
The Middleby Corporation (NASDAQ: MIDD) has acquired Colussi Ermes, a leader in automated washing solutions for the food processing industry, located in Pordenone, Italy. The acquisition, valued at approximately $50 million in annual revenues, aims to enhance food safety and sanitation, a key priority in the sector. Colussi's technology minimizes labor, reduces water and energy usage, and is compatible with Middleby’s existing offerings. This strategic acquisition is poised to foster collaboration across Middleby’s portfolio, positioning the company for expanded market opportunities.
The Middleby Corporation (NASDAQ: MIDD) will release its second quarter earnings for 2022 on August 4, before the market opens. Following the earnings report, a conference call will take place at 11 a.m. Eastern Time for investors to discuss the results. The call can be accessed via the company's Investor Relations webpage or by dialing in directly. Middleby is recognized as a leader in the foodservice industry, continuously innovating to provide advanced solutions for commercial and residential kitchens.
The Middleby Corporation (NASDAQ: MIDD) has acquired CP Packaging, a manufacturer of high-speed vacuum packaging equipment based in Appleton, Wisconsin, with annual sales of approximately $15 million. This acquisition aims to enhance Middleby's food processing portfolio by leveraging CP Packaging's innovative systems, which improve sanitation, production speed, and lower operating costs. CEO Tim FitzGerald highlighted the meaningful synergies between packaging brands and food processing platforms, which will strengthen their integrated solutions for customers.
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