Middleby (NASDAQ:MIDD) Misses Q1 Revenue Estimates
Kitchen product manufacturer Middleby (NYSE:MIDD) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 2.2% year on year to $906.6 million. Its non-GAAP profit of $2.08 per share was 5.3% above analysts' consensus estimates.
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Middleby (MIDD) Q1 CY2025 Highlights:
Revenue: $906.6 million vs analyst estimates of $941.7 million (2.2% year-on-year decline, 3.7% miss)
Adjusted EPS: $2.08 vs analyst estimates of $1.97 (5.3% beat)
Adjusted EBITDA: $182.1 million vs analyst estimates of $185.7 million (20.1% margin, 1.9% miss)
Operating Margin: 15.5%, in line with the same quarter last year
Free Cash Flow Margin: 11.8%, down from 13.7% in the same quarter last year
Organic Revenue fell 3.8% year on year (-8.7% in the same quarter last year)
Market Capitalization: $7.26 billion
'Middleby has a demonstrated track record of operational excellence, strong cash flow generation and disciplined capital investments, which provides the foundation for our attractive capital allocation framework," said Tim FitzGerald, CEO of The Middleby Corporation.
Company Overview
Holding a Guinness World Record for creating the world's fastest conveyor pizza oven, Middleby (NYSE:MIDD) is a food service and equipment manufacturer.
Sales Growth
A company's long-term performance is an indicator of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Unfortunately, Middleby's 5.5% annualized revenue growth over the last five years was tepid. This was below our standard for the industrials sector and is a rough starting point for our analysis.
Middleby Quarterly Revenue
We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Middleby's performance shows it grew in the past but relinquished its gains over the last two years, as its revenue fell by 2.4% annually.
Middleby Year-On-Year Revenue Growth
We can better understand the company's sales dynamics by analyzing its organic revenue, which strips out one-time events like acquisitions and currency fluctuations that don't accurately reflect its fundamentals. Over the last two years, Middleby's organic revenue averaged 4.3% year-on-year declines. Because this number is lower than its normal revenue growth, we can see that some mixture of acquisitions and foreign exchange rates boosted its headline results.
Middleby Organic Revenue Growth
This quarter, Middleby missed Wall Street's estimates and reported a rather uninspiring 2.2% year-on-year revenue decline, generating $906.6 million of revenue.

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