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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 | 0.00 | 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 |
The Middleby Corporation (MIDD) Q2 2023 Earnings Call Transcript
The Middleby Corporation (NASDAQ:MIDD ) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Timothy FitzGerald - Chief Executive Officer James Pool - Chief Technology and Operations Officer Bryan Mittelman - Chief Financial Officer Steven Spittle...
Middleby (MIDD) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for Middleby (MIDD) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates...
Middleby (MIDD) Surpasses Q2 Earnings and Revenue Estimates
Middleby (MIDD) came out with quarterly earnings of $2.47 per share, beating the Zacks Consensus Estimate of $2.32 per share. This compares to earnings of $2.23 per share a year ago.
The Middleby Corporation Reports Record Second Quarter Results
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 second quarter of 2023. “We delivered solid results with top line...
Middleby Acquires Trade-Wind Manufacturing LLC
ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Trade-Wind Manufacturing LLC, a premier manufacturer of ventilation innovation for indoor and outdoor residential use. Based in Phoenix, Trade-Wind has approximately $10 million in annual revenues. “Trade-Wind is...
Middleby Schedules Second Quarter Earnings Release and Conference Call
ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) will release 2023 second quarter earnings on Thursday, August 3 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 (MIDD) Buys TERRY, Enhances Commercial Foodservice
Middleby's (MIDD) acquisition of TERRY bolsters its commercial foodservice operations with the latter offering environmentally friendly solution to eliminate and prevent scale build up.
Middleby Acquires TERRY Water Treatment Solutions
ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of TERRY Water Treatment Solutions. The company has a proprietary, environmentally friendly solution to eliminate and prevent scale build up associated with water usage in commercial foodservice equipment including...
Here's Why You Should Hold on to Middleby (MIDD) Stock Now
Accretive pricing and strong international growth in all end markets augur well for Middleby (MIDD). The company's shareholder-friendly policies are promising.
Middleby (MIDD) Acquires Micron-Pro Brand Filtration Automation
Middleby's (MIDD) acquisition of Filtration Automation boosts its food processing portfolio, expanding its frying system offerings.
Source: https://incomestatements.info
Category: Stock Reports