Two More Earnings Reports

We had two earnings reports this morning. Let’s start with Middleby (MIDD). The company reported Q1 earnings of $1.79 per share. That beat Wall Street’s forecast of $1.62 per share.

“We have positive momentum entering 2021 with strong orders and rising backlogs in all three business segments. Profitability across all three business segments increased as well, as we realized the benefits of our operating initiatives while also to moving forward our strategic initiatives with investments in sales, technology and service capabilities. We continue to proactively manage ongoing challenges due to COVID, particularly with supply chain disruption and rising costs, to minimize customer impact. Employee safety remains our top priority and we have kept the precautions at our facilities in place to best protect our workforce,” said Tim FitzGerald, CEO of The Middleby Corporation.

Zoetis (ZTS) reported Q1 earnings of $1.26 per share. That was 23 cents more than expectations. The company also lifted its full-year outlook. Previously Zoetis expected earnings of $4.36 to $4.46 per share. The new guidance is for $4.42 to $4.51 per share.

Posted by on May 6th, 2021 at 10:26 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.