Middleby Corporation Stock News

Middleby's 3Q24 earnings were disappointing, primarily due to poor organic growth in its largest segment, Commercial Foodservice. The persistent weakness in the consumer spending environment, coupled with high mortgage rates and rising food costs, is negatively impacting the restaurant industry and, consequently, Middleby's business. Given the ongoing challenges in the Commercial Foodservice se...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) 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. JC Ford offers a broad range of automated, full-line solutions for corn and flour tortillas, tortilla chips, and other c...

The Middleby Corporation (NASDAQ:MIDD ) Q3 2024 Results Conference Call October 31, 2024 11:00 AM ET Company Participants Tim FitzGerald - CEO James Pool - Chief Technology Officer & Chief Operations Officer Bryan Mittelman - CFO Steven Spittle - Chief Commercial Officer Conference Call Participants Saree Boroditsky - Jefferies Mig Dobre - Baird Brian McNamara - Canaccord Genuity Jeff Hammond -...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD), 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. "Unfavorable macro-economic conditions continued in the third quarter and grew even more challenging in our commercial foodservice segme...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) 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...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) 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. “Emery Thompson is a highly respected, well-established brand that will greatly enhance our product offerings in the frozen dessert categ...

Visit Booth IA-55 for a Demonstration of the Leading IoT Solution for Foodservice Operators BOSTON , Sept. 4, 2024 /PRNewswire/ -- Powerhouse Dynamics, the leader in Internet of Things (IoT)-based solutions for the foodservice industry, is pleased to announce its return as a key sponsor of the 2024 FSTEC Conference, taking place September 16-18 in Grapevine, Texas.

MIDD upgraded from sell to hold rating due to potential for strong organic growth acceleration in Commercial Foodservice segment. 2Q24 results show decline in revenue, but CF segment EBITDA margin held up well. Macro changes including lower inflation and interest rates may lead to an improved demand environment, but more data needed before confirming growth cycle.