Middleby Q2 beats sales expectations, initiates Q3 and FY guidance

The Middleby

06/08/2025 12:24

Overview

Middleby Q2 sales beat analysts' expectations but adjusted EBITDA missed, per LSEG data

Company repurchased 3.1 mln shares for $448.9 mln, or 5.7% of equity

Middleby initiates Q3 and full year 2025 guidance

Outlook

Middleby sees Q3 revenue of $950-975 mln

Middleby expects Q3 adjusted EBITDA of $185-195 mln

Middleby forecasts 2025 revenue of $3.81-3.87 bln

Company projects 2025 adjusted EPS of $8.65-9.05

Result Drivers

ECONOMIC UNCERTAINTY - Middleby attributes Q2 results to economic uncertainty in key markets, impacting customer demand

NEW PRODUCT LAUNCHES - Gains in market share driven by new product launches, per CEO Tim FitzGerald

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$977.86 mln
$974.80 mln (8 Analysts)
Q2 Net Income
$105.96 mln
Q2 Adjusted EBITDA
Miss
$200 mln
$201.10 mln (8 Analysts)
Q2 Gross Profit
$371.29 mln
Q2 Operating Income
$155.39 mln
Q2 Pretax Profit
$132.99 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

Wall Street's median 12-month price target for Middleby Corp is $167.00, about 13.3% above its August 5 closing price of $144.71

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nBw9C1p5ma

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)