Monitor 2026 guidance execution, particularly organic growth in Commercial Foodservice (1-3%) and Food Processing (4-6%). Watch for deployment of $565M cash proceeds from the Residential Kitchen sale and impact on leverage (currently 2.5x). The Food Processing business separation in Q2 2026 could create additional value.
Price Chart
Executive Summary
Middleby reported Q4 2025 results with revenue of $866 million (up 4.5% YoY) and adjusted EPS of $2.14, exceeding guidance. The company completed the sale of a 51% stake in its Residential Kitchen business for $885 million, receiving $565 million in cash. It initiated 2026 organic growth guidance of 1-3% in Commercial Foodservice and 4-6% in Food Processing, and repurchased $710 million in shares in 2025.
Key Financial Metrics
Key Facts
- Q4 revenue: $866 million (+4.5% YoY, +0.3% organic)
- Adjusted EPS: $2.14 (exceeded guidance of $2.19-$2.34)
- Completed sale of 51% of Residential Kitchen business for $885 million enterprise value
- Received $565 million in cash proceeds and a $135 million promissory note
- Initiated 2026 organic growth guidance: 1-3% Commercial Foodservice, 4-6% Food Processing
- Repurchased $710 million in shares in 2025 (9.1% of equity)
Financial Impact
Revenue increased 4.5% YoY to $866M, adjusted EBITDA decreased to $197.1M from $226.2M, with $7M tariff impact. Company received $565M cash from Residential Kitchen sale.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Commercial Foodservice | $601.7M | +0.7% |
| Food Processing | $264.7M | +14.4% |
Risk Factors
- Adjusted EBITDA declined 12.9% YoY to $197.1M despite revenue growth, indicating margin pressure
- Full-year organic sales decreased 2.4%, suggesting underlying demand challenges
- Tariff impacts ($7M in Q4) could persist and affect margins
- Execution risk in separating Food Processing business in Q2 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000769520-26-000006 |
| Document: midd-20260226.htm | 0000769520-26-000006 |
| Document: 0000769520-26-000006-index-headers.html | 0000769520-26-000006 |
| Document: 0000769520-26-000006-index.html | 0000769520-26-000006 |
| Document: 0000769520-26-000006.txt | 0000769520-26-000006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $105.72 $111.34 | ▲ +5.32% | ▲ +5.81% | $104.57 (−1.09%) |
Aug 11, 2026 7w ago | 8-K | $119.99 $114.00 | ▼ −4.99% | ▼ −4.59% | $104.57 (−12.85%) |
Jul 6, 2026 12w ago | 8-K | $179.20 $135.67 | ▼ −24.29% | ▼ −24.78% | $104.57 (−41.65%) |
Jun 29, 2026 13w ago | 8-K | $172.01 $179.20 | ▲ +4.18% | ▲ +3.58% | $104.57 (−39.21%) |
Jun 22, 2026 14w ago | 8-K | $166.65 $173.02 | ▲ +3.82% | ▲ +4.28% | $104.57 (−37.25%) |
May 26, 2026 18w ago | 8-K | $154.30 $155.35 | ▲ +0.68% | ▲ +0.21% | $104.57 (−32.23%) |
May 12, 2026 20w ago | 8-K | $150.15 $144.41 | ▼ −3.82% | ▼ −3.90% | $104.57 (−30.35%) |
May 11, 2026 20w ago | 8-K | $155.30 $144.32 | ▼ −7.07% | ▼ −6.99% | $104.57 (−32.66%) |
May 7, 2026 21w ago | 8-K | $157.18 $147.45 | ▼ −6.19% | ▼ −7.69% | $104.57 (−33.47%) |
Apr 8, 2026 25w ago | DEFA14A | $144.82 $139.45 | ▼ −3.70% | ▼ −6.89% | $104.57 (−27.79%) |
US Market Status
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