Day: March 1, 2021

Why Middleby Stock Is Cooking With Gas Today

What happened

Shares of food service, food processing, and home kitchen equipment maker Middleby (NASDAQ:MIDD) rose as much as 12.6% on Monday, powered by a strong fourth-quarter earnings report.

So what

The company behind brands such as TurboChef, Viking, and Bakers Pride saw net sales fall 7% to $729 million. Adjusted earnings declined from $1.96 to $1.62 per diluted share. Your average analyst had expected far deeper drops with earnings of roughly $1.41 per share on top-line sales near $695 million. Middleby’s order backlog stood at a record $523 million by the end of the fiscal year, up

Read More