Middleby (MIDD) Reports Q4 Earnings: What Key Metrics Have to Say
Middleby (MIDD) reported $1.01 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 2.2%. EPS of $2.65 for the same period compares to $2.57 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.02 billion, representing a surprise of -1.03%. The company delivered an EPS surprise of +8.61%, with the consensus EPS estimate being $2.44.
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: $627.86 million versus $635.41 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
Revenue- Residential Kitchen: $189.01 million versus $194.96 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
Revenue- Food Processing: $191.70 million versus the six-analyst average estimate of $188.39 million. The reported number represents a year-over-year change of +5.1%.
Income (loss) from operations- Commercial Foodservice: $164.11 million compared to the $154.71 million average estimate based on five analysts.
Income (loss) from operations- Residential Kitchen: -$63.65 million versus the five-analyst average estimate of $17.48 million.
Income (loss) from operations- Food Processing: $46.99 million compared to the $42.77 million average estimate based on five analysts.
View all Key Company Metrics for Middleby here>>>
Shares of Middleby have returned +0.6% over the past month versus the Zacks S&P 500 composite's +3.6% 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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The Middleby Corporation (MIDD) : Free Stock Analysis Report
