MIDD
The Middleby Corporation147.24
-0.04-0.03%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
7.46BP/E (TTM)
-Basic EPS (TTM)
-3.96Dividend Yield
0%Recent Filings
8-K
10-Q
8-K
8-K
Middleby extends credit maturity
The Middleby Corporation amended its credit agreement on August 19, 2025, extending the maturity from October 21, 2026, to April 28, 2028, while replacing departing lenders and adjusting terms to support the planned spin-off of its food processing business into a standalone public company. This extension bolsters liquidity and flexibility for the separation, yet hinges on meeting specified conditions. Lenders exited smoothly.
10-Q
Q2 FY2025 results
Middleby posted Q2 net sales of $978M, down 1.4% y/y yet buoyed by 14% growth in Food Processing to $216M, while Commercial Foodservice dipped 4.8% to $581M amid softer chain traffic and Residential Kitchen eased 6.1% to $181M on outdoor headwinds. Gross margin held at 38.0%, but operating income fell 11.5% y/y to $155M as SG&A climbed to 21.9% from strategic costs and restructuring. Diluted EPS landed at $1.99, aligning with 53.2M shares. Operating cash flow for H1 hit $263M, yielding $208M free cash flow (derived) after $55M capex, with cash at $511M and $2.4B debt steady; revolver offers $2.7B availability. The planned Food Processing spin-off targets H1 2026 for tax-free separation. Tariffs and supply chain snags pose ongoing risks to costs and demand.
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