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Inferra AI / Company / MIDD

Middleby Corp

MIDD · Industrials

Last earnings Sep 9, 2026

Key results

EPSquarter

$2.37

Diluted EPS of $(10.15) and adjusted EPS of $2.37 as compared to $2.33 in prior year Repurchased 3.5 million of common shares year-to-date for approximately $500 million, or 6.4% of equity Operating cash flows of $176 million as compared to $157 million in prior year Net leverage at

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Company Reported Net revenuequarter

2.4 %

A reconciliation of organic net sales (a non-GAAP measure) by segment is as follows Commercial Foodservice Residential Kitchen Food Processing Total Company Reported Net Sales Growth 2.4 % 0.9 % 13.2 % 4.2 % Acquisitions 0.3 % % 16.4 % 3.3 % Foreign Exchange Rates 0.5 % 1.5 % 2.4 % 1.0 % Organic Net Sales Growth (1) (2) 1.6 % (0.6) % (5.6) % (0.1) % (1) Organic net sales growth defined as total sales growth excluding impact of acquisitions and foreign exchange rates (2) Totals may be impacted by rounding Adjusted EBITDA (a non-GAAP measure) was $196.4 million in the third quarter compared to $213.0 million in the prior year.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Capexquarter

$156.1 million

Free cash flow, defined as operating cash flow net capital expenditures during the third quarter amounted to $156.1 million in comparison to $145.2 million in the prior year period.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Total revenuequarter

$990

Total revenue of $990-1,020 million

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Commercial Foodservice revenuequarter

$570

Commercial Foodservice revenue of $570-580 million

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Residential Kitchen revenuequarter

$180

Residential Kitchen revenue of $180-190 million

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Food Processing revenuequarter

$240

Food Processing revenue of $240-250 million Adjusted EBITDA of $200-210 million and

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Adjusted Earnings Per Share of $2.19-2.34 assuming approximately 50.4 million weighted average shares outstanding.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

AI analysis

Q3 2025 · reported Nov 6, 2025

Based on: Earnings release + parent 8-K + 10-K — transcript not held

EPS · Q3 2025
$2.37
+1.7% vs year ago computed from stated figures
EX-99 · Nov 6, 2025
Capex · Q3 2025
$156.1M
EX-99 · Nov 6, 2025
Total revenue · Q3 2025
$990
EX-99 · Nov 6, 2025
Commercial Foodservice revenue · Q3 2025
$570
EX-99 · Nov 6, 2025

The quarter in charts

Diluted EPS — GAAP

Per diluted share, as stated

00.831.672.5$2.33Same quarter last year$2.37Q3 2025 (quarter)

EX-99 · Nov 6, 2025 EPS values as stated in the release.

Headline figures

MetricQ3 2025Prior qtrYear ago
EPS$2.37—$2.33
Company Reported Net revenue2.4 %——
Capex$156.1 million——
Total revenue$990——
Commercial Foodservice revenue$570——
Residential Kitchen revenue$180——
Food Processing revenue$240——

EX-99 · Nov 6, 2025

Guidance · company-stated

Direction: reiterated

No guidance located in the held release

Outlook statement

“The company also reiterated its financial guidance provided at its recent quarterly earnings call and Investor Day, summarized below: Q3 2026 Guidance FY2026 Guidance 3-Year Target (2025-2028E) Net Sales $620-640M $2.”

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Capex$156.1M

Capital allocation

Capex$156.1M

This strategic review, along with our planned food processing spin and share repurchasing activities, are all part of our initiative to unlock value.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

FitzGerald concluded, In terms of the third quarter, we were pleased to have delivered results that met or exceeded our sales expectations for all three segments with profitability at the top-end of our previously disclosed outlook

Based on: Earnings release + parent 8-K + 10-K — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

This strategic review, along with our planned food processing spin and share repurchasing activities, are all part of our initiative to unlock value.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Free cash flow, defined as operating cash flow net capital expenditures during the third quarter amounted to $156.1 million in comparison to $145.2 million in the prior year period.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

During the third quarter the company repurchased $148.6 million of Middleby shares.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Net debt, defined as debt less cash, at the end of the 2025 fiscal third quarter amounted to $1.9 billion as compared to $1.7 billion at the end of fiscal 2024.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Our borrowing availability at the end of the third quarter was approximately $2.7 billion.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

The company believes that organic net sales growth, adjusted EBITDA, non-GAAP adjusted segment EBITDA, net debt, net leverage, adjusted net earnings and adjusted diluted per share measures are useful as supplements to its GAAP results of operations to evaluate certain aspects of its operations and financial performance, and its management team primarily focuses on non-GAAP items in evaluating performance for business planning purposes.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Strategy & priorities

Tim FitzGerald, CEO of The Middleby Corporation said, As part of our efforts to maximize shareholder value, we are conducting a strategic review of our Residential Kitchen business unit and determined that a non-cash impairment charge was necessary as we evaluate alternatives.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

This strategic review, along with our planned food processing spin and share repurchasing activities, are all part of our initiative to unlock value.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Going forward, despite market conditions that remain challenging across key end markets, we continue to make strategic progress and grow market share in key categories driven by strong operating performance and industry-leading innovation.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

(2) Totals may be impacted by rounding Impairments of $709.1 million were recognized in conjunction with the strategic review of the Residential Kitchen Equipment Group.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

The third quarter operating cash flows also reflect $6.1 million for strategic transaction costs associated with the business portfolio review.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Risks & headwinds

Within Residential Kitchen, our premium indoor brands experienced growth, which was partially offset by tariffs impacting sales of outdoor products.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

The third quarter Adjusted EBITDA includes an adverse impact of $12 million related to tariffs.

SEC original ↗Middleby Corp — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Legal Proceedings 19 Item 4.

SEC original ↗Middleby Corp — 10-K Annual report10-KMar 4, 2026

The company is developing innovations to solve the challenges within our customers' operations.

SEC original ↗Middleby Corp — 10-K Annual report10-KMar 4, 2026

Any of these risks, as well as risks not currently known to the company or that are currently deemed to be immaterial, may adversely affect the company s business, results of operations, cash flows and financial condition.

SEC original ↗Middleby Corp — 10-K Annual report10-KMar 4, 2026

These risk factors should be carefully considered together with the other information in this Annual Report on Form 10-K, including the risks and uncertainties described under the heading Special Note Regarding Forward-Looking Statements .

SEC original ↗Middleby Corp — 10-K Annual report10-KMar 4, 2026

Documents

Earnings deck slides

0 decks with slide view

Middleby Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Middleby Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Middleby Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

RELX (RELX) IndustrialsThomson Reuters (TRI) IndustrialsFedEx (FDX) IndustrialsVertiv (VRT) IndustrialsCanadian National Railway (CNI) IndustrialsAerCap Holdings (AER) IndustrialsCanadian Pacific Kansas City (CP) IndustrialsGeneral Dynamics (GD) Industrials

Filings

39 documents

Earnings releases

11 documents

Presentations

3 documents

Transcripts

0 documents

No transcripts for Middleby Corp are held in this edition of the library.

Mentioned by

1 company

Other tracked companies whose held documents mention Middleby Corp by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.