Kitchen product manufacturer Middleby (NYSE: MIDD) will be announcing earnings results this Thursday before the bell. Here’s what investors should know.
Middleby beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $977.9 million, down 1.4% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and EBITDA guidance for next quarter missing analysts’ expectations significantly.
Is Middleby a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Middleby’s revenue to grow 1.9% year on year to $960.7 million, a reversal from the 3.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Middleby has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Middleby’s peers in the professional tools and equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Fortive delivered year-on-year revenue growth of 2.3%, beating analysts’ expectations by 1.8%, and ESAB reported revenues up 8.1%, topping estimates by 4.6%. Fortive traded up 4.2% following the results while ESAB was down 2.5%.
Read our full analysis of Fortive’s results here and ESAB’s results here.
Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the professional tools and equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.5% on average over the last month. Middleby is down 12.7% during the same time and is heading into earnings with an average analyst price target of $157.13 (compared to the current share price of $122).
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