Middleby Corp is a leading manufacturer of commercial kitchen equipment, providing innovative cooking solutions and food processing technologies for the food service and hospitality industries
The company designs and produces a wide range of products, including ovens, fryers, and beverage dispensers, aimed at enhancing efficiency and performance in food preparation and serving. With a focus on quality and sustainability, Middleby Corp serves a diverse clientele, including restaurants, hotels, and institutional food service providers, and continues to drive advancements in culinary innovation and efficiency.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Hyster-Yale Materials Handling (NYSEHY) and its peers.
The Middleby Corporation (“Middleby,” “The Company”) (NASDAQMIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today confirmed that, as part of its Board of Directors’ ongoing efforts to maximize shareholder value, the Company has been conducting a strategic review of its business portfolio, which started last year. The Board, with the assistance of outside financial and legal advisors, is considering a broad range of strategic options including a potential separation of its Food Processing and/or its Residential Kitchen business units, among other alternatives.
Shares of kitchen product manufacturer Middleby (NYSEMIDD)
jumped 15.1% in the afternoon session after The Wall Street Journal reported that activist Garden Investments built a ~5% stake in the company and plans to push for changes. This move is noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
From a preschool teacher newly inspired to invest at 73 to a lifelong Fool whose Microsoft shares became a 500-bagger, this year-end mailbag edition brims with transformational stories.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the professional tools and equipment industry, including Kennametal (NYSEKMT) and its peers.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Middleby (NASDAQMIDD) and the rest of the professional tools and equipment stocks fared in Q3.
Middleby trades at $141.72 per share and has stayed right on track with the overall market, gaining 12.6% over the last six months. At the same time, the S&P 500 has returned 13.5%.
The Middleby Corporation (NASDAQMIDD) has announced the acquisition of Gorreri Food Processing Technology based outside Parma, Italy. Gorreri is a leading manufacturer of equipment for the baked goods industry, including cakes, pies, muffins, tarts and other desert line solutions. The company operates in a state-of-the-art, 50,000-square-foot facility, which was recently expanded to accommodate growth. Gorreri has revenues of $20 million annually.
The Middleby Corporation (NASDAQMIDD) today announced the acquisition of JC Ford, a leading manufacturer of tortilla production equipment systems. Founded in 1945, the company is based in Columbia, Tenn., and has $70 million in annual revenues.
Kitchen product manufacturer Middleby (NYSEMIDD) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 3.9% year on year to $942.8 million. Its non-GAAP profit of $2.33 per share was also 5.9% below analysts’ consensus estimates.
The Middleby Corporation (NASDAQMIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today reported net earnings for the third quarter of 2024.
The Middleby Corporation (NASDAQMIDD) will release 2024 third quarter earnings on Thursday, October 31 before the market opens. The company has scheduled a conference call to discuss the results at 11 a.m. Eastern/10 a.m. Central Time on October 31. The conference call is accessible through the Investor Relations section of the company website at www.middleby.com. If website access is not available, attendees can join the conference by dialing 1-844-481-3012 for domestic participants or 1-412-317-1878 for international access.
The Middleby Corporation (NASDAQMIDD) today announced the acquisition of Emery Thompson, a well-known, global brand in frozen dessert equipment. Located in Brooksville, Florida, the company has revenues of $10 million annually.
The Middleby Corporation (NASDAQMIDD), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today reported net earnings for the second quarter of 2024.
The Middleby Corporation (NASDAQMIDD) will release 2024 second quarter earnings on Thursday, August 1 before the market opens. The company has scheduled a conference call to discuss the results at 11 a.m. Eastern/10 a.m. Central Time on August 1. The conference call is accessible through the Investor Relations section of the company website at www.middleby.com. If website access is not available, attendees can join the conference by dialing (833) 630-1956 or (412) 317-1837 for international access.
