Middleby: Fourth Quarter Earnings Overview

Middleby Corporation Announces Fourth Quarter Financial Results

Middleby Corporation, based in Elgin, Illinois, reported a net profit of $36.9 million for the fourth quarter.

Earnings per share for the quarter were $0.74. After adjusting for special items, the company’s earnings reached $2.42 per share.

These adjusted earnings surpassed analysts’ expectations, as the consensus estimate from five Zacks Investment Research analysts was $2.27 per share.

During the quarter, Middleby generated $866.4 million in revenue, which was below the $1 billion anticipated by analysts surveyed by Zacks.

For the full year, Middleby recorded a net loss of $277.7 million, or $5.32 per share, with total revenue amounting to $3.2 billion.

Outlook for the Upcoming Quarter and Year

• For the first quarter ending in March, the company projects earnings per share between $1.90 and $2.02.
• Expected revenue for the fiscal first quarter is between $760 million and $788 million.
• For the entire year, Middleby anticipates earnings per share in the range of $9.20 to $9.36, with revenue projected between $3.27 billion and $3.36 billion.