Middleby (Nasdaq: MIDD ) reported earnings on Feb. 27. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 29 (Q4), Middleby beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share increased.
Gross margins dropped, operating margins grew, net margins shrank.
Middleby booked revenue of $291.6 million. The six analysts polled by S&P Capital IQ expected sales of $281.5 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $243.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $2.03. The seven earnings estimates compiled by S&P Capital IQ predicted $1.78 per share. GAAP EPS of $2.03 for Q4 were 9.1% higher than the prior-year quarter's $1.86 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 38.8%, 210 basis points worse than the prior-year quarter. Operating margin was 20.1%, 170 basis points better than the prior-year quarter. Net margin was 13.0%, 120 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $308.6 million. On the bottom line, the average EPS estimate is $1.36.
Next year's average estimate for revenue is $1.32 billion. The average EPS estimate is $7.16.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Middleby is hold, with an average price target of $134.20.
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