Latest news with #MIDD
Yahoo
06-08-2025
- Business
- Yahoo
Middleby (NASDAQ:MIDD) Exceeds Q2 Expectations
Kitchen product manufacturer Middleby (NYSE:MIDD) reported revenue ahead of Wall Street's expectations in Q2 CY2025, but sales fell by 1.4% year on year to $977.9 million. On the other hand, next quarter's revenue guidance of $962.5 million was less impressive, coming in 0.8% below analysts' estimates. Its non-GAAP profit of $2.35 per share was 5.3% above analysts' consensus estimates. Is now the time to buy Middleby? Find out in our full research report. Middleby (MIDD) Q2 CY2025 Highlights: Revenue: $977.9 million vs analyst estimates of $972.2 million (1.4% year-on-year decline, 0.6% beat) Adjusted EPS: $2.35 vs analyst estimates of $2.23 (5.3% beat) Adjusted EBITDA: $200.2 million vs analyst estimates of $202.8 million (20.5% margin, 1.3% miss) Revenue Guidance for the full year is $3.84 billion at the midpoint, below analyst estimates of $3.88 billion Adjusted EPS guidance for the full year is $8.85 at the midpoint, missing analyst estimates by 4.4% EBITDA guidance for the full year is $785 million at the midpoint, below analyst estimates of $829.8 million Operating Margin: 15.9%, down from 17.7% in the same quarter last year Free Cash Flow Margin: 10.3%, down from 14% in the same quarter last year Organic Revenue fell 5.4% year on year, in line with the same quarter last year Market Capitalization: $7.74 billion Tim FitzGerald, CEO of The Middleby Corporation said, 'Our second quarter results reflect the economic uncertainty our customers continue to navigate in key end markets. Despite these headwinds, I'm proud of our team's continued execution in areas within our control. We're delivering strong operational performance, gaining market share with new product launches, and growing the partnerships with our customers. While these quarterly results reflect our market conditions, they don't appropriately capture the fundamental transformation we've achieved across our business to drive long-term growth, particularly across innovation and go-to-market capabilities. We believe we have created an unmatched platform, and as the market inflects, Middleby is poised for outsized growth as we solve increasingly complex challenges for our growing customer base.' 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. Revenue Growth A company's long-term performance is an indicator of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Over the last five years, Middleby grew its sales at a decent 7.6% compounded annual growth rate. Its growth was slightly above the average industrials company and shows its offerings resonate with customers. 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 recent performance marks a sharp pivot from its five-year trend as its revenue has shown annualized declines of 2.9% over the last two years. Middleby also reports 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 4.6% year-on-year declines. Because this number is lower than its two-year revenue growth, we can see that some mixture of acquisitions and foreign exchange rates boosted its headline results. This quarter, Middleby's revenue fell by 1.4% year on year to $977.9 million but beat Wall Street's estimates by 0.6%. Company management is currently guiding for a 2.1% year-on-year increase in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 3% over the next 12 months. Although this projection indicates its newer products and services will fuel better top-line performance, it is still below average for the sector. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Operating Margin Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development. Middleby has been a well-oiled machine over the last five years. It demonstrated elite profitability for an industrials business, boasting an average operating margin of 16.5%. This result isn't surprising as its high gross margin gives it a favorable starting point. Looking at the trend in its profitability, Middleby's operating margin rose by 1.7 percentage points over the last five years, as its sales growth gave it operating leverage. In Q2, Middleby generated an operating margin profit margin of 15.9%, down 1.8 percentage points year on year. Since Middleby's operating margin decreased more than its gross margin, we can assume it was less efficient because expenses such as marketing, R&D, and administrative overhead increased. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Middleby's EPS grew at a remarkable 12.1% compounded annual growth rate over the last five years, higher than its 7.6% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded. Diving into the nuances of Middleby's earnings can give us a better understanding of its performance. As we mentioned earlier, Middleby's operating margin declined this quarter but expanded by 1.7 percentage points over the last five years. Its share count also shrank by 3.3%, and these factors together are positive signs for shareholders because improving profitability and share buybacks turbocharge EPS growth relative to revenue growth. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Middleby, its two-year annual EPS growth of 1.2% was lower than its five-year trend. We hope its growth can accelerate in the future. In Q2, Middleby reported adjusted EPS at $2.35, down from $2.39 in the same quarter last year. Despite falling year on year, this print beat analysts' estimates by 5.3%. Over the next 12 months, Wall Street expects Middleby's full-year EPS of $9.64 to shrink by 1.4%. Key Takeaways from Middleby's Q2 Results It was encouraging to see Middleby beat analysts' EPS expectations this quarter. We were also happy its revenue narrowly outperformed Wall Street's estimates. On the other hand, its full-year EBITDA guidance missed. Overall, this was a weaker quarter. The stock remained flat at $145 immediately after reporting. Big picture, is Middleby a buy here and now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it's free.
Yahoo
11-07-2025
- Business
- Yahoo
The Top 5 Analyst Questions From Middleby's Q1 Earnings Call
Middleby's first quarter saw a positive market reaction despite revenue coming in below Wall Street's expectations. Management attributed the results to strong cash flow, disciplined cost control, and margin stability, with CEO Timothy FitzGerald emphasizing the company's ability to maintain 'robust cash flows and driven margin performance' even in a challenging market. While food processing experienced revenue declines due to customer-driven delays, the residential segment benefited from growth in outdoor products. Commercial foodservice margins expanded as cost actions and favorable product mix offset muted buying from large chain customers. Is now the time to buy MIDD? Find out in our full research report (it's free). 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 Organic Revenue fell 3.8% year on year (-8.7% in the same quarter last year) Market Capitalization: $8.03 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Walt Liptak (Seaport) asked about the segment outlook and where the biggest changes in 2025 would occur; CFO Bryan Mittelman highlighted that commercial segment performance will drive the overall results, with muted growth due to macro uncertainty and customer investment delays. Jeff Hammond (KeyBanc) inquired about the rationale behind prioritizing the share buyback program; CEO Timothy FitzGerald detailed that strong cash flow, balance sheet strength, and limited M&A opportunities outside food processing made buybacks the most attractive use of capital. Mircea Dobre (Baird) pressed for detail on the timeline and allocation of tariff costs by segment; Chief Commercial Officer Steve Spittle explained the majority of the impact would hit commercial and residential, with mitigation efforts relying on pricing and operational improvements. Tim Thein (Raymond James) questioned the sustainability of margin improvements from favorable product mix and the geographic distribution of new store openings; Mittelman and Spittle noted positive near-term mix effects and a growing international share of new business, especially in Europe, India, and Brazil. Brian McNamara (Canaccord Genuity) sought specifics on competitive pricing in response to tariffs and updates on Open Kitchen adoption; Spittle said Middleby's planned price increases are below most competitors, and James Pool (CTO) emphasized strong pipeline momentum for Open Kitchen and several new product rollouts. In the quarters ahead, our analysts will monitor (1) Middleby's ability to implement price increases and offset tariff costs without sacrificing customer demand, (2) progress on the food processing spin-off, including leadership appointments and detailed financial disclosures, and (3) adoption rates for new digital kitchen and automation products. Additional attention will be paid to supply chain execution and the evolving competitive landscape in commercial foodservice and residential categories. Middleby currently trades at $150.25, up from $135.38 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Independent
28-05-2025
- Politics
- The Independent
Russia detains tourist who entered country on paddle board
A French citizen who illegally crossed the Russian border on a paddle board from Estonia has been put in detention for two months, a court in Russia 's northern Leningrad region said. The man, who paddled from Estonia, was detained on the shore of the Narva reservoir - through which the Russian-Estonian border runs - by Federal Security Service (FSB) border guards. According to the Leningrad court, the French man said he wanted to settle in Russia. The court said the man said he had previously undergone psychiatric treatment. Reuters was unable to contact the man or his lawyers. Earlier this month, Latvia 's intelligence agency issued a public warning about potential Russian saboteurs and spies operating within the country, disguised as tourists or hikers. The Defence Intelligence and Security Service (MIDD) released a list of characteristics in its annual report, urging citizens to be vigilant amid heightened regional tensions and a series of unexplained incidents. The MIDD describes these individuals as potentially appearing unkempt, carrying excessive gear, or sporting military haircuts and survival equipment while demonstrating a lack of outdoor skills. They might ask unusual questions of locals, loiter near sensitive sites like military bases or infrastructure, or pose as humanitarian workers. Their presence in remote areas without any apparent interest in nature could also be a red flag. The agency further advises the public to be wary of individuals carrying specialized medical kits, maps, or radios – items more commonly associated with clandestine operations than recreational activities. This warning comes against a backdrop of increased regional tensions and several incidents of arson and sabotage that Western governments attribute to Russia, though Moscow denies involvement.
Daily Mirror
17-05-2025
- Politics
- Daily Mirror
Russia spy warning over claims Putin's agents are 'disguised as lost tourists'
Vladimir Putin's Russian spies are posing as lost tourists as a spy agency warned citizens to keep an eye out for Kremlin agents lurking in their own neighbourhoods A spy agency has said Vladimir Putin's spooks are appearing as lost tourists. A report by the Latvian State Security Service (MIDD) said Russian intelligence operatives disguised as civilians is an increasing concern for authorities. The report also said Kremlin spies are the biggest threat to Latvia's national security, as it warned of spooks appearing in untidy clothing such as sportswear or mismatched military clothing. People should be wary of suspicious individuals appearing to be lost and asking locals strange questions, the MIDD said. 'If you do think you might have spotted a sabotage group on Latvian soil, MIDD does not recommend tackling them yourself," the report urged residents. "Instead report your suspicions to the State Police, special services, or the nearest armed forces unit.' Not all operatives appear the same and citizens should consider the context when coming across someone they may suspect. They are most likely to loiter close to critical infrastructure or even near military sites. The spies are 'highly adaptive', the report says, basing some of its assessment on 'experience from Ukraine '. Operatives could be there to try and destabilise society or even target individuals for assassination. Similar concerns have been raised by Finland's Security and Intelligence Service (SUPO). It said there had been sabotage operations linked to operatives the GRU, one of Russia's intelligence agencies. Earlier this week, six Bulgarians were jailed after being convicted of spying for Russia on an industrial scale. Ringleader Orlin Roussev, 47, who led the spy ring from a rundown guesthouse on the east coast of England, was sentenced to 10 years and eight months on Monday. He had admitted his role along with his second-in-command, Biser Dzhambazov, 44, who was jailed for 10 years and two months and Ivan Stoyanov, 33, who was handed five years and three weeks in prison. Female 'honeytrap' agents Katrin Ivanova, 33, and Vanya Gaberova, 30, and competitive swimmer Tihomir Ivanov Ivanchev, 39, were found guilty at the Old Bailey in March of activities which police have said put lives and national security at risk. Mr Justice Hilliard jailed Ivanova, of Harrow, north-west London, for nine years and eight months, saying she had 'thrown in' her lot with her partner Dzhambazov and become an 'enthusiastic' participant. Gaberova, of Euston, north London, was jailed for six years, eight months and three weeks, having found spying for Russia to be 'exciting and glamorous', the judge said. Her ex-boyfriend Ivanchev, of Acton, west London, was sentenced to eight years in prison.
Scottish Sun
16-05-2025
- Scottish Sun
Is THIS what a Russian spy looks like? Intel agency releases handy guide on how to spot a Putin operative in your midst
Scroll down to find out how to spot a spy in your midst SPY NEXT DOOR Is THIS what a Russian spy looks like? Intel agency releases handy guide on how to spot a Putin operative in your midst Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) WHEN you think of a spy, you might imagine trench coats and secret dossiers, or perhaps the more glamorous image of vodka martinis and Aston Martins. But one Baltic nation has taken a more practical approach, issuing a handy guide on how its citizens can spot Russian operatives lurking in their midst. 6 Federal security service officers guarding the Russian President Vladimir Putin Credit: Alamy 6 The aftermath of a Russian firestorm in Ukraine's Sumy region Credit: AP 6 Some of the characteristics to look out for in a spy One of Latvia's intelligence services has put out a list of telltale signs to help its population sniff out spies. An unkempt appearance and "insufficient hygiene" are listed as some of the top characteristics to look out for - a far cry from the crisp dinner jackets sported by James Bond. But don't expect all Russian spies in the Baltic state to look like they have been sleeping in a bush. A military-style haircut is also a possible indicator that you might be face-to-face with a secret agent. Perhaps unsurprisingly, asking nosy and intrusive questions of locals is also listed as something to look out for. And tourists who have little knowledge of the area but are surprisingly well-prepared for the great outdoors - such as with medical kits or radios - are also a big red flag. The Defence Intelligence and Security Service (MIDD) has issued the list of characteristics this week to urge its citizens to be alert to threats and regional tensions. The agency said: "The Ukrainian experience shows that Russian special services are able to adapt to the environment and circumstances in which reconnaissance-saboteur groups are used. "Their members may not visually correspond to the classic reconnaissance-saboteur profile." Such Russian spies might also hang around near sensitive sights - or sleep in remote areas despite showing little interest in nature. Satellite pics show Putin on the march as Russia masses troops 35 miles from Nato border with 2k soldiers & helicopters But the agency warned citizens not to get their hands dirty with vigilante spy work - and to leave any action to the professionals. They made clear that if any suspicions are flagged, the police and military should take it from there. The agency said: "If you do think you might have spotted a sabotage group on Latvian soil, MIDD does not recommend tackling them yourself. "Instead report your suspicions to the State Police, special services, or the nearest armed forces unit.' 6 Wreckage of an MH17 plane shot down by Russia Credit: AP 6 Fire blazes at the site of the wreckage Credit: AP This comes as tensions between NATO countries and Russia continue to soar over Putin's barbaric and brutal invasion of Ukraine. Sweden and Finland - both of which joined NATO since 2022 - have been busily issuing booklets on how to survive a war or other disaster. Norway has also published a book with advice for such a scenario. The book reads: "We live in an increasingly turbulent world. "Even though in Norway most things generally function as they normally would, we must remain aware that extreme weather, pandemics, accidents, sabotage — and in the worst case acts of war — can impact us." Several instances of sabotage and arson across the west have been attributed to Russia by senior figures - although the Kremlin denies involvement. Russian and Ukrainian officials met for direct talks today for the first time in three years in Turkey. But even if a ceasefire is agreed, a top security think tank warns Russia could rebuild its military to a worrying capacity as early as 2027. And the International Institute for Strategic Studies has cautioned Putin could deploy his army onto a "war footing" and try to test NATO's Article 5 mutual defence agreement.
