Middleby Q4 revenue rises 5% but misses expectations

The Middleby

26/02/2026 12:24

Overview

Foodservice equipment maker's Q4 revenue grew 5% yr/yr but missed analyst expectations

Adjusted EBITDA for Q4 missed analyst expectations

Company repurchased 4.9 mln shares, 9.1% of equity, in 2025

Outlook

Middleby expects Q1 2026 revenue of $760-788 mln

Middleby sees full-year 2026 revenue at $3.27-3.36 bln

Middleby forecasts full-year 2026 adjusted EPS of $9.20-9.36

Result Drivers

FOOD PROCESSING GROWTH - Record Q4 Food Processing orders increased 66% organically, with year-end backlog up 36%

COMMERCIAL FOODSERVICE REVENUE - Commercial Foodservice segment delivered $602 million in revenue with double-digit growth in dealer channel

TARIFF IMPACT - Adjusted EBITDA impacted by $7 million due to tariffs in Q4

Company press release: ID:nBw8ygRYGa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Miss
$866.43 mln
$985.97 mln (8 Analysts)
Q4 Net Income
$36.94 mln
Q4 Adjusted EBITDA
Miss
$197 mln
$207.60 mln (8 Analysts)
Q4 Gross Profit
$336.22 mln
Q4 Operating Income
$149.84 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "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 $175.00, about 10.9% above its February 25 closing price of $157.78

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)