Quarterly ResultAug 11, 2026, 07:07 AM
Middleby Q2 Net Sales $875.5M, Adj. EPS $2.35; Raises FY26 Guidance
AI Summary
Middleby reported strong second quarter 2026 financial results, with net sales increasing 9.9% to $875.5 million and Adjusted EPS rising to $2.35. The company successfully completed the spin-off of its Food Processing business, Midera, on July 6, 2026, transforming Middleby into a pure-play commercial foodservice company. Following these results, Middleby raised its full-year 2026 guidance and repurchased 1.4 million shares during the quarter.
Key Highlights
- Food Processing Spin completed on July 6, 2026, creating Midera as an independent entity.
- Q2 2026 Net Sales increased 9.9% to $875.5 million over prior year.
- Q2 2026 Adjusted EPS was $2.35, up from $2.20 in the prior year.
- Q2 2026 Adjusted EBITDA was $193.2 million, compared to $181.6 million in prior year.
- Repurchased 1.4 million shares (2.9% of outstanding) in Q2 2026.
- Raised FY 2026 guidance for Commercial Foodservice revenue growth to +6-8%.
- Commercial Foodservice organic sales growth was +8.3% in Q2 2026.
- Q2 ending net leverage was 2.4x, with net debt at $1.8 billion.
Price Impact
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