Middleby Earns $2 per Share

The stock market is looking much better this morning after the unpleasantness of the last two days. President Trump will be speaking at 6 p.m. ET on the virus outbreak.

We got a very good earnings report this morning from Middleby (MIDD). At one point this morning, the shares gapped up over 20%.

For Q4, the company made $2.00 per share. That crushed estimates of $1.71 per share. Quarterly sales rose 4.1% to $787.6 million. For the year, Middleby made $7.02 per share. This was a great quarter for them.

CEO Timothy FitzGerald said, “Over the past year we made significant investments in new product innovations addressing these categories and are pleased to see growing interest as we enter 2020. We are well-positioned with a much improved backlog as we closed out 2019 and are confident it will translate into sales and profitability growth for the upcoming year.”

Ansys (ANSS) will be reporting after today’s close. Also, shares of Disney (DIS) are lower today after CEO Robert Iger said he’ll be retiring.

Posted by on February 26th, 2020 at 11:46 am


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