Expect a strong positive move at open given the magnitude of the beat and guidance raise. Key catalysts ahead: Investor Day next Tuesday and Food Processing spin-off on July 6. Monitor tariff exposure and working capital trends, but the fundamental trajectory is clearly improving.
Price Chart
Executive Summary
Middleby reported Q1 2026 results significantly above consensus, with revenue of $839.9M (+15% YoY) beating estimates by 8% and adjusted EPS of $2.16 beating by 11%. The company raised full-year 2026 guidance, with adjusted EPS now expected at $9.54-$9.70 (up from $9.20-$9.36) and organic growth accelerating in both segments. The strong operational performance, combined with aggressive share repurchases (2.4M shares in Q1) and the planned July 6 Food Processing spin-off, marks a positive inflection point.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $839.9M vs consensus $777.1M (+8.1% beat)
- Adjusted EPS $2.16 vs consensus $1.94 (+11.3% beat)
- Organic revenue growth 11.9% (Commercial Foodservice +8.1%, Food Processing +25.0%)
- FY 2026 guidance raised: revenue $3.36B-3.44B, Adj. EPS $9.54-$9.70 (prior $9.20-$9.36)
- Repurchased 2.4M shares (4.9% of equity) in Q1, $520M deployed YTD 2026
- Food Processing spin-off on track for July 6, 2026
- Net leverage improved to 2.3x from 2.5x in Q4 2025
Financial Impact
Revenue beat of ~$62.8M and adjusted EPS beat of $0.22 vs consensus. Full-year guidance raised by ~$0.34 at midpoint.
Risk Factors
- Tariff impact (not quantified in Q1 but $7M adverse in Q4 2025)
- Execution risk on Food Processing spin-off
- Elevated debt leverage (2.3x, though improving)
- Potential slowdown in QSR chain demand
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000769520-26-000026 |
| Document: midd-20260507.htm | 0000769520-26-000026 |
| Document: 0000769520-26-000026-index-headers.html | 0000769520-26-000026 |
| Document: 0000769520-26-000026-index.html | 0000769520-26-000026 |
| Document: 0000769520-26-000026.txt | 0000769520-26-000026 |
| 8-K Data (Synthetic) | 0000769520-26-000026 |
Track record builds as more directional reports settle.
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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