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Middleby (MIDD) Reports Q2 Earnings: What Key Metrics Have to Say
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Middleby (MIDD - Free Report) reported $991.55 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 4.7%. EPS of $2.39 for the same period compares to $2.47 a year ago.
The reported revenue represents a surprise of +0.27% over the Zacks Consensus Estimate of $988.88 million. With the consensus EPS estimate being $2.27, the EPS surprise was +5.29%.
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
: $619.38 million versus $627.52 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.
Revenue- Food Processing
: $179.40 million compared to the $179.53 million average estimate based on four analysts. The reported number represents a change of -5% year over year.
Revenue- Residential Kitchen
: $192.76 million versus the four-analyst average estimate of $184 million. The reported number represents a year-over-year change of -6.2%.
Income (loss) from operations- Commercial Foodservice
: $151.71 million versus $156.46 million estimated by four analysts on average.
Income (loss) from operations- Food Processing
: $40.48 million compared to the $38.54 million average estimate based on four analysts.
Income (loss) from operations- Residential Kitchen
: $10.13 million versus $13.76 million estimated by three analysts on average.
Shares of Middleby have returned +11.8% over the past month versus the Zacks S&P 500 composite's +1.1% 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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Middleby (MIDD) Reports Q2 Earnings: What Key Metrics Have to Say
Middleby (MIDD - Free Report) reported $991.55 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 4.7%. EPS of $2.39 for the same period compares to $2.47 a year ago.
The reported revenue represents a surprise of +0.27% over the Zacks Consensus Estimate of $988.88 million. With the consensus EPS estimate being $2.27, the EPS surprise was +5.29%.
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:
View all Key Company Metrics for Middleby here>>>Revenue- Commercial Foodservice
: $619.38 million versus $627.52 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.Revenue- Food Processing
: $179.40 million compared to the $179.53 million average estimate based on four analysts. The reported number represents a change of -5% year over year.Revenue- Residential Kitchen
: $192.76 million versus the four-analyst average estimate of $184 million. The reported number represents a year-over-year change of -6.2%.Income (loss) from operations- Commercial Foodservice
: $151.71 million versus $156.46 million estimated by four analysts on average.Income (loss) from operations- Food Processing
: $40.48 million compared to the $38.54 million average estimate based on four analysts.Income (loss) from operations- Residential Kitchen
: $10.13 million versus $13.76 million estimated by three analysts on average.Shares of Middleby have returned +11.8% over the past month versus the Zacks S&P 500 composite's +1.1% 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.