Middleby Earns $1.92 per Share

This morning, Middleby (MIDD) reported Q3 earnings of $1.92 per share. That was a nine-cent miss. Adjusted sales rose by 22.4%. Total backlog is now $1.2 billion. That’s more than doubled since the start of the year.

“We continue to build upon the positive momentum across our business segments — investing in technology innovations to address the dynamic market trends, furthering our strategic sales initiatives, and expanding our brand portfolio with the recent acquisitions of Novy and Imperial Range,” said Tim FitzGerald CEO of the Middleby Corporation. “The demand for our solutions remains strong with record incoming orders and backlog. We are proactively managing through the current impact of supply chain disruptions and significant inflationary pressures, while we make progress toward our long-term profitability goals.”

The shares are up about 2% this morning.

Posted by on November 9th, 2021 at 9:50 am


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