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Complete financial analysis of The Middleby Corporation (MIDD) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of The Middleby Corporation, a leading company in the Industrial – Machinery industry within the Industrials sector.
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The Middleby Corporation (MIDD)
About The Middleby Corporation
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions. The company's Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, formers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and food safety, food handling, freezing, and defrosting and packaging equipment for customers producing hot dog, dinner sausage, poultry, and lunchmeat, as well as muffin, cookie, and bread products. Its Residential Kitchen Equipment Group segment offers kitchen equipment comprising cookers, stoves, dishwashers, microwaves, cooktops, wine coolers, ice machines, and ventilation and outdoor equipment. The company was formerly known as Middleby Marshall Oven Company and changed its name to The Middleby Corporation in 1985. The company was founded in 1888 and is based in Elgin, Illinois.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4.04B | 4.03B | 3.25B | 2.51B | 2.96B | 2.72B | 2.34B | 2.27B | 1.83B | 1.64B | 1.43B | 1.04B | 855.91M | 719.12M | 646.63M | 651.89M | 500.47M | 403.13M | 316.67M | 271.12M | 235.40M | 229.11M | 101.55M | 126.89M | 132.50M | 132.30M | 148.30M | 124.80M | 139.20M | 130.00M | 121.60M | 110.00M | 103.00M | 113.00M | 72.20M | 34.20M | 29.10M | 24.60M | 27.80M |
| Cost of Revenue | 2.50B | 2.59B | 2.06B | 1.63B | 1.86B | 1.72B | 1.42B | 1.37B | 1.12B | 995.95M | 878.67M | 635.19M | 511.77M | 432.44M | 396.00M | 403.75M | 308.11M | 246.25M | 195.02M | 168.49M | 149.55M | 150.61M | 70.05M | 78.04M | 88.10M | 92.90M | 99.50M | 84.50M | 96.10M | 91.30M | 88.30M | 73.10M | 68.10M | 75.00M | 48.60M | 19.00M | 17.00M | 15.90M | 16.60M |
| Gross Profit | 1.53B | 1.45B | 1.19B | 882.05M | 1.10B | 1.00B | 912.74M | 901.18M | 706.51M | 640.59M | 550.01M | 402.99M | 344.14M | 286.68M | 250.63M | 248.14M | 192.37M | 156.88M | 121.65M | 102.63M | 85.85M | 78.50M | 31.50M | 48.85M | 44.40M | 39.40M | 48.80M | 40.30M | 43.10M | 38.70M | 33.30M | 36.90M | 34.90M | 38.00M | 23.60M | 15.20M | 12.10M | 8.70M | 11.20M |
| Gross Profit Ratio | 38.00% | 35.87% | 36.76% | 35.10% | 37.29% | 36.88% | 39.08% | 39.74% | 38.68% | 39.14% | 38.50% | 38.82% | 40.21% | 39.86% | 38.76% | 38.07% | 38.44% | 38.91% | 38.42% | 37.85% | 36.47% | 34.26% | 31.02% | 38.50% | 33.51% | 29.78% | 32.91% | 32.29% | 30.96% | 29.77% | 27.38% | 33.55% | 33.88% | 33.63% | 32.69% | 44.44% | 41.58% | 35.37% | 40.29% |
| Research & Development | 53.10M | 48.90M | 41.80M | 35.30M | 41.20M | 35.30M | 29.10M | 26.30M | 22.40M | 22.60M | 21.40M | 14.10M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 0.00 | 754.55M | 622.91M | 491.90M | 564.09M | 0.00 | 0.00 | 220.55M | 181.80M | 164.09M | 149.91M | 108.78M | 104.31M | 88.12M | 74.95M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 42.68M | 45.07M | 40.00M | 19.61M | 0.00 | 0.00 | 223.88M | 193.35M | 182.58M | 155.64M | 106.13M | 91.11M | 75.77M | 64.24M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 794.44M | 797.23M | 667.98M | 531.90M | 583.70M | 538.84M | 436.49M | 444.43M | 375.15M | 346.67M | 305.55M | 214.91M | 195.43M | 163.89M | 139.19M | 128.52M | 99.43M | 79.98M | 63.68M | 53.61M | 50.84M | 48.77M | 23.57M | 33.34M | 33.10M | 33.10M | 32.80M | 28.80M | 29.40M | 27.50M | 28.70M | 27.70M | 29.60M | 25.40M | 16.10M | 8.00M | 6.50M | 7.30M | 7.80M |
| Other Expenses | 51.65M | 13.79M | 46.67M | 22.24M | 31.19M | 36.29M | -829.00K | -1.04M | -4.47M | -4.05M | -2.78M | -4.41M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 12.65M | 62.00K | 0.00 | 0.00 | 3.66M | 3.50M | 3.20M | 3.00M | 2.80M | 3.40M | 2.40M | 3.10M | 3.90M | 4.20M | 4.10M | 2.20M | 900.00K | 800.00K | 700.00K | 800.00K |
| Operating Expenses | 899.19M | 797.23M | 667.98M | 531.90M | 583.70M | 538.84M | 436.49M | 444.43M | 375.15M | 346.67M | 305.55M | 214.91M | 195.43M | 163.89M | 139.19M | 128.52M | 99.43M | 79.98M | 63.68M | 66.26M | 50.90M | 48.77M | 23.57M | 37.00M | 36.60M | 36.30M | 35.80M | 31.60M | 32.80M | 29.90M | 31.80M | 31.60M | 33.80M | 29.50M | 18.30M | 8.90M | 7.30M | 8.00M | 8.60M |
| Cost & Expenses | 3.40B | 3.38B | 2.72B | 2.16B | 2.44B | 2.26B | 1.86B | 1.81B | 1.50B | 1.34B | 1.18B | 850.09M | 707.20M | 596.33M | 535.19M | 532.27M | 407.54M | 326.23M | 258.70M | 234.74M | 200.45M | 199.38M | 93.62M | 115.04M | 124.70M | 129.20M | 135.30M | 116.10M | 128.90M | 121.20M | 120.10M | 104.70M | 101.90M | 104.50M | 66.90M | 27.90M | 24.30M | 23.90M | 25.20M |
| Interest Income | 0.00 | 88.98M | 57.16M | 78.62M | 82.61M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 120.35M | 88.98M | 57.16M | 78.62M | 82.61M | 58.74M | 25.98M | 23.88M | 16.97M | 15.59M | 15.90M | 9.24M | 8.50M | 8.59M | 11.59M | 12.98M | 0.00 | 6.93M | 6.44M | 0.00 | 5.89M | 0.00 | 0.00 | 1.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 125.40M | 130.50M | 118.48M | 108.09M | 101.85M | 97.24M | 69.77M | 56.10M | 54.07M | 41.25M | 43.16M | 26.90M | 19.71M | 17.01M | 15.89M | 12.39M | 6.36M | 4.86M | 3.55M | 3.61M | 3.99M | 6.28M | 3.58M | 3.66M | 3.50M | 3.20M | 3.00M | 2.80M | 3.40M | 2.40M | 3.10M | 3.90M | 4.20M | 4.10M | 2.20M | 900.00K | 800.00K | 700.00K | 800.00K |
| EBITDA | 797.35M | 780.39M | 776.67M | 457.21M | 648.34M | 579.91M | 478.35M | 500.06M | 385.43M | 342.24M | 296.73M | 210.58M | 168.66M | 139.84M | 127.21M | 129.11M | 99.29M | 81.92M | 61.66M | 40.46M | 38.94M | 29.73M | 7.93M | 15.51M | 11.30M | 6.30M | 16.00M | 11.50M | 13.70M | 11.20M | 4.60M | 9.20M | 5.30M | 12.60M | 7.50M | 7.20M | 5.60M | 1.40M | 3.40M |
| EBITDA Ratio | 19.75% | 16.44% | 17.64% | 14.82% | 18.62% | 18.42% | 20.36% | 20.09% | 17.90% | 20.23% | 16.92% | 20.28% | 17.37% | 19.44% | 17.23% | 20.62% | 19.66% | 20.32% | 19.47% | 19.24% | 16.67% | 15.99% | 12.12% | 13.41% | 10.79% | 8.09% | 11.06% | 9.13% | 10.92% | 9.23% | -2.14% | 9.36% | 6.31% | 12.21% | 11.36% | 20.76% | 26.12% | 6.10% | 12.23% |
| Operating Income | 634.87M | 639.60M | 448.31M | 324.43M | 514.04M | 445.97M | 410.34M | 446.23M | 302.60M | 300.43M | 244.46M | 188.08M | 148.71M | 122.79M | 111.44M | 119.62M | 92.93M | 76.90M | 57.97M | 38.26M | 35.02M | 29.73M | 7.93M | 11.85M | 7.80M | 3.10M | 13.00M | 8.70M | 10.30M | 8.80M | 1.50M | 5.30M | 1.10M | 8.50M | 5.30M | 6.30M | 4.80M | 700.00K | 2.60M |
| Operating Income Ratio | 15.73% | 15.86% | 13.79% | 12.91% | 17.37% | 16.38% | 17.57% | 19.68% | 16.57% | 18.36% | 17.11% | 18.12% | 17.37% | 17.07% | 17.23% | 18.35% | 18.57% | 19.08% | 18.31% | 14.11% | 14.87% | 12.98% | 7.81% | 9.34% | 5.89% | 2.34% | 8.77% | 6.97% | 7.40% | 6.77% | 1.23% | 4.82% | 1.07% | 7.52% | 7.34% | 18.42% | 16.49% | 2.85% | 9.35% |
| Total Other Income/Expenses | -115.49M | -75.19M | -10.49M | -56.37M | -51.42M | -22.45M | 4.92M | 2.29M | -21.44M | -19.64M | -18.68M | -13.64M | -8.26M | -8.55M | -11.72M | -15.40M | -4.95M | -7.09M | -6.57M | -4.42M | -6.20M | -11.80M | -1.53M | -2.71M | -5.60M | -7.30M | -4.70M | -4.20M | -6.70M | -4.80M | 2.10M | -1.10M | -1.20M | -9.40M | -4.20M | -1.00M | -3.50M | -100.00K | -2.10M |
| Income Before Tax | 519.38M | 564.42M | 619.50M | 268.06M | 462.62M | 423.51M | 383.53M | 421.31M | 281.17M | 280.79M | 225.78M | 174.44M | 140.45M | 114.24M | 99.73M | 104.22M | 87.98M | 69.81M | 51.40M | 33.84M | 28.82M | 17.94M | 6.40M | 9.14M | 2.20M | -4.20M | 8.30M | 4.50M | 3.60M | 4.00M | 3.60M | 4.20M | -100.00K | -900.00K | 1.10M | 5.30M | 1.30M | 600.00K | 500.00K |
| Income Before Tax Ratio | 12.87% | 14.00% | 19.06% | 10.67% | 15.63% | 15.55% | 16.42% | 18.58% | 15.39% | 17.16% | 15.80% | 16.80% | 16.41% | 15.89% | 15.42% | 15.99% | 17.58% | 17.32% | 16.23% | 12.48% | 12.24% | 7.83% | 6.30% | 7.21% | 1.66% | -3.17% | 5.60% | 3.61% | 2.59% | 3.08% | 2.96% | 3.82% | -0.10% | -0.80% | 1.52% | 15.50% | 4.47% | 2.44% | 1.80% |
| Income Tax Expense | 118.50M | 127.85M | 131.01M | 60.76M | 110.38M | 106.36M | 85.40M | 137.09M | 89.56M | 87.48M | 71.85M | 53.74M | 44.98M | 41.37M | 38.57M | 40.32M | 35.37M | 27.43M | 19.22M | 10.26M | 10.12M | 6.32M | 4.76M | 5.37M | 3.20M | -200.00K | 2.50M | 1.40M | 100.00K | 900.00K | 200.00K | 7.20M | 8.60M | 100.00K | 500.00K | 1.10M | 700.00K | 1.80M | 400.00K |
| Net Income | 400.88M | 436.57M | 488.49M | 207.29M | 352.24M | 317.15M | 298.13M | 284.22M | 191.61M | 193.31M | 153.93M | 120.70M | 95.47M | 72.87M | 61.16M | 63.90M | 52.61M | 42.38M | 32.18M | 23.59M | 18.70M | 17.13M | 1.64M | 4.01M | -1.00M | -4.00M | 5.20M | 500.00K | 3.50M | 3.10M | 3.40M | -1.90M | -7.50M | -1.00M | 600.00K | 4.20M | 600.00K | -1.10M | 100.00K |
| Net Income Ratio | 9.93% | 10.83% | 15.03% | 8.25% | 11.90% | 11.65% | 12.76% | 12.53% | 10.49% | 11.81% | 10.77% | 11.63% | 11.15% | 10.13% | 9.46% | 9.80% | 10.51% | 10.51% | 10.16% | 8.70% | 7.94% | 7.48% | 1.61% | 3.16% | -0.75% | -3.02% | 3.51% | 0.40% | 2.51% | 2.38% | 2.80% | -1.73% | -7.28% | -0.88% | 0.83% | 12.28% | 2.06% | -4.47% | 0.36% |
| EPS | 7.48 | 8.07 | 8.85 | 3.76 | 6.33 | 5.71 | 5.26 | 4.98 | 3.36 | 3.41 | 2.76 | 2.22 | 1.77 | 1.36 | 1.16 | 1.33 | 1.12 | 0.92 | 0.71 | 0.43 | 0.34 | 0.11 | 0.03 | 0.06 | -0.02 | -0.06 | 0.10 | 0.01 | 0.07 | 0.06 | 0.28 | -0.04 | -0.15 | -0.02 | 0.01 | 0.10 | 0.01 | -0.04 | 0.00 |
| EPS Diluted | 7.41 | 7.95 | 8.62 | 3.76 | 6.33 | 5.70 | 5.26 | 4.98 | 3.36 | 3.40 | 2.74 | 2.20 | 1.72 | 1.32 | 1.10 | 1.25 | 1.04 | 0.86 | 0.66 | 0.40 | 0.33 | 0.11 | 0.03 | 0.06 | -0.02 | -0.06 | 0.10 | 0.01 | 0.07 | 0.05 | 0.28 | -0.04 | -0.15 | -0.02 | 0.01 | 0.10 | 0.01 | -0.04 | 0.00 |
| Weighted Avg Shares Out | 53.58M | 54.10M | 55.22M | 55.09M | 55.65M | 55.58M | 56.72M | 57.03M | 56.95M | 56.76M | 55.83M | 54.38M | 53.99M | 53.40M | 52.82M | 47.93M | 47.08M | 45.86M | 45.08M | 55.20M | 54.39M | 53.94M | 53.89M | 59.83M | 60.97M | 64.86M | 52.88M | 50.00M | 52.50M | 56.36M | 49.41M | 49.57M | 50.00M | 50.00M | 51.43M | 44.21M | 45.00M | 30.00M | 30.00M |
| Weighted Avg Shares Out (Dil) | 54.09M | 54.95M | 56.67M | 55.14M | 55.66M | 55.60M | 56.72M | 57.09M | 56.97M | 56.78M | 56.27M | 54.81M | 55.60M | 55.01M | 55.73M | 51.09M | 50.81M | 49.55M | 48.56M | 59.59M | 56.35M | 54.79M | 53.98M | 60.55M | 61.66M | 64.86M | 53.79M | 60.00M | 52.50M | 58.13M | 49.41M | 49.57M | 50.00M | 50.00M | 51.43M | 44.21M | 45.00M | 30.00M | 30.00M |
Middleby Schedules Third Quarter Earnings Release and Conference Call
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...
Middleby Acquires Emery Thompson Frozen Dessert Equipment Company
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,...
Middleby Stock Boasts Strong Prospects Despite Headwinds
MIDD is set to benefit from its focus on launching new products. However, weakness in the Residential Kitchen Equipment Group and Commercial Foodservice Equipment Group segments remains a concern.
Middleby Gains From Product Innovations & Buyouts, Risks Persist
MIDD gains from solid product offerings, acquired assets and a strong liquidity position. However, the soft residential kitchen equipment business is a woe.
Powerhouse Dynamics Returns to FSTEC 2024 for Third Consecutive Year, Showcasing Advanced Open Kitchen IoT Software with AI-Driven Energy Management
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...
Middleby: Rating Upgrade To Neutral Given Recent Results And Macro Developments
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...
Middleby (MIDD) Q2 Earnings Beat Estimates, Sales Down Y/Y
Middleby's (MIDD) second-quarter 2024 net sales decline 4.7% year over year on account of the lackluster performance of its segments.
Middleby (MIDD) Reports Q2 Earnings: What Key Metrics Have to Say
Although the revenue and EPS for Middleby (MIDD) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Middleby (MIDD) Q2 Earnings and Revenues Surpass Estimates
Middleby (MIDD) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.27 per share. This compares to earnings of $2.47 per share a year ago.
Strength Seen in Middleby (MIDD): Can Its 5.5% Jump Turn into More Strength?
Middleby (MIDD) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Source: https://incomestatements.info
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