Middleby (NASDAQ:MIDD – Get Free Report) issued an update on its FY 2026 earnings guidance on Tuesday. The company provided earnings per share guidance of 6.730-6.890 for the period, compared to the consensus estimate of 8.480. The company issued revenue guidance of $2.5 billion-$2.5 billion, compared to the consensus revenue estimate of $2.9 billion. Middleby also updated its Q3 2026 guidance to 1.670-1.830 EPS.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their target price on shares of Middleby from $185.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Canaccord Genuity Group set a $165.00 target price on shares of Middleby in a report on Wednesday, August 5th. Oppenheimer started coverage on shares of Middleby in a research report on Wednesday, June 17th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on shares of Middleby from $200.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $169.50.
Read Our Latest Analysis on MIDD
Middleby Stock Down 3.1%
Middleby (NASDAQ:MIDD – Get Free Report) last posted its earnings results on Tuesday, August 11th. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.09 by $0.26. The firm had revenue of $875.55 million during the quarter, compared to analysts’ expectations of $836.99 million. Middleby had a negative net margin of 11.46% and a positive return on equity of 15.94%. Middleby has set its Q3 2026 guidance at 1.670-1.830 EPS and its FY 2026 guidance at 6.730-6.890 EPS. As a group, sell-side analysts predict that Middleby will post 9.54 EPS for the current year.
Key Headlines Impacting Middleby
Here are the key news stories impacting Middleby this week:
- Positive Sentiment: Middleby reported second-quarter revenue of approximately $875.5 million, up 9.9% year over year and above the $837.0 million consensus estimate. Reported EPS of $2.35 also exceeded expectations of $2.09. The Middleby Corporation Reports Second Quarter Results
- Positive Sentiment: Commercial Foodservice sales reached $630.6 million, with organic growth of 8.3%. The company also repurchased 1.4 million shares during the quarter and 3.8 million shares year to date, supporting per-share value.
- Positive Sentiment: Management said results exceeded the high end of its revenue and adjusted EBITDA outlook. The completed separation of the Food Processing business into independent company Midera marks a major strategic milestone and should allow Middleby to focus on its core commercial foodservice operations.
- Neutral Sentiment: Analysts cited a consensus price target of $169.50, substantially above the stock’s recent trading level, although price targets may be revised following the weaker outlook. Middleby Receives Consensus Price Target
- Negative Sentiment: Third-quarter 2026 guidance calls for EPS of $1.67-$1.83 and revenue of $620 million-$640 million, below analyst estimates of $1.95 EPS and $696.6 million revenue.
- Negative Sentiment: Full-year 2026 guidance of $6.73-$6.89 EPS and approximately $2.48-$2.53 billion in revenue is also below consensus expectations of $8.48 EPS and $2.9 billion revenue. This outlook reset is the primary reason the stock is declining despite the quarterly beat.
- Negative Sentiment: Continuing-operations net earnings and GAAP EPS were lower than the prior-year period, while the company reported a negative net margin, highlighting ongoing profitability concerns after the business separation.
Institutional Trading of Middleby
Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Middleby by 90.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after buying an additional 205 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Middleby by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company’s stock worth $23,884,000 after acquiring an additional 9,936 shares during the last quarter. Focus Partners Wealth raised its position in shares of Middleby by 344.7% during the first quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 1,727 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Middleby by 280.2% during the second quarter. EverSource Wealth Advisors LLC now owns 327 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 241 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new position in shares of Middleby in the 2nd quarter valued at $202,000. 98.55% of the stock is currently owned by institutional investors.
About Middleby
Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.
The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.
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