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Middleby (MIDD) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Middleby (MIDD - Free Report) reported revenue of $926.93 million, down 8% over the same period last year. EPS came in at $1.89, compared to $2.19 in the year-ago quarter.
The reported revenue represents a surprise of -5.16% over the Zacks Consensus Estimate of $977.39 million. With the consensus EPS estimate being $2.04, the EPS surprise was -7.35%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Middleby performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Commercial Foodservice: $590.34 million versus the four-analyst average estimate of $613.88 million. The reported number represents a year-over-year change of -3.8%.
Revenue- Residential Kitchen: $173.90 million versus $186.30 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -20.9% change.
Revenue- Food Processing: $162.68 million versus $176.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
Income (loss) from operations- Commercial Foodservice: $131.66 million versus $140.95 million estimated by four analysts on average.
Income (loss) from operations- Residential Kitchen: $4.54 million compared to the $6.12 million average estimate based on four analysts.
Income (loss) from operations- Food Processing: $32.35 million versus the four-analyst average estimate of $36.79 million.
Shares of Middleby have returned -7.4% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Middleby (MIDD) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Middleby (MIDD - Free Report) reported revenue of $926.93 million, down 8% over the same period last year. EPS came in at $1.89, compared to $2.19 in the year-ago quarter.
The reported revenue represents a surprise of -5.16% over the Zacks Consensus Estimate of $977.39 million. With the consensus EPS estimate being $2.04, the EPS surprise was -7.35%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Middleby performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Commercial Foodservice: $590.34 million versus the four-analyst average estimate of $613.88 million. The reported number represents a year-over-year change of -3.8%.
- Revenue- Residential Kitchen: $173.90 million versus $186.30 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -20.9% change.
- Revenue- Food Processing: $162.68 million versus $176.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
- Income (loss) from operations- Commercial Foodservice: $131.66 million versus $140.95 million estimated by four analysts on average.
- Income (loss) from operations- Residential Kitchen: $4.54 million compared to the $6.12 million average estimate based on four analysts.
- Income (loss) from operations- Food Processing: $32.35 million versus the four-analyst average estimate of $36.79 million.
View all Key Company Metrics for Middleby here>>>Shares of Middleby have returned -7.4% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.