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Compared to Estimates, Middleby (MIDD) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, Middleby (MIDD - Free Report) reported revenue of $942.81 million, down 3.9% over the same period last year. EPS came in at $2.33, compared to $2.35 in the year-ago quarter.
The reported revenue represents a surprise of -5.47% over the Zacks Consensus Estimate of $997.34 million. With the consensus EPS estimate being $2.47, the EPS surprise was -5.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $600.07 million versus the four-analyst average estimate of $629.59 million. The reported number represents a year-over-year change of -5.4%.
Revenue- Residential Kitchen: $173.22 million versus $182.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.8% change.
Revenue- Food Processing: $169.52 million versus $186.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
Income (loss) from operations- Commercial Foodservice: $146.09 million versus the four-analyst average estimate of $163.78 million.
Income (loss) from operations- Residential Kitchen: $13.17 million versus $5.24 million estimated by four analysts on average.
Income (loss) from operations- Food Processing: $37.50 million compared to the $44.57 million average estimate based on four analysts.
Shares of Middleby have returned +4.4% over the past month versus the Zacks S&P 500 composite's +1% 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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Compared to Estimates, Middleby (MIDD) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, Middleby (MIDD - Free Report) reported revenue of $942.81 million, down 3.9% over the same period last year. EPS came in at $2.33, compared to $2.35 in the year-ago quarter.
The reported revenue represents a surprise of -5.47% over the Zacks Consensus Estimate of $997.34 million. With the consensus EPS estimate being $2.47, the EPS surprise was -5.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $600.07 million versus the four-analyst average estimate of $629.59 million. The reported number represents a year-over-year change of -5.4%.
- Revenue- Residential Kitchen: $173.22 million versus $182.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.8% change.
- Revenue- Food Processing: $169.52 million versus $186.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.7% change.
- Income (loss) from operations- Commercial Foodservice: $146.09 million versus the four-analyst average estimate of $163.78 million.
- Income (loss) from operations- Residential Kitchen: $13.17 million versus $5.24 million estimated by four analysts on average.
- Income (loss) from operations- Food Processing: $37.50 million compared to the $44.57 million average estimate based on four analysts.
View all Key Company Metrics for Middleby here>>>Shares of Middleby have returned +4.4% over the past month versus the Zacks S&P 500 composite's +1% 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.