| Metric | Value ($ M) | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue | 875.55 | 4.2% | 10.5% |
| Total Income | 875.55 | 4.2% | 10.5% |
| Expenditure | 727.80 | 3.0% | 11.5% |
| PBT | 126.38 | 11.9% | 5.0% |
| Net Profit | 54.81 | 209.5% | 48.3% |
| OPM | 16.88% | 1.00pp | 0.98pp |
| NPM | 6.26% | 12.22pp | 4.58pp |
| EPS | 1.21 | 214.2% | 39.8% |
The Middleby Corporation Reports Q2 2026 Results, Exceeding Guidance and Completing Food Processing Spin
11 Aug 2026 · 11 Aug, 4:37 pm
Summary
The Middleby Corporation announced strong second quarter 2026 results, with net sales reaching $876 million, a 10% increase year-over-year, driven by 8% organic growth in its Commercial Foodservice segment. Adjusted EBITDA rose to $193 million from $182 million in the prior year. A significant milestone was the completion of the Food Processing business spin-off, positioning Middleby as a pure-play commercial foodservice company. The company raised its full-year 2026 guidance, reflecting confidence in its focused strategy and ongoing innovation.
Key Highlights
- 1
The Middleby Corporation reported Net Sales of $876 million for the second quarter of 2026, an increase of 10% over the prior year.
- 2
Organic sales growth of 8% was achieved in the Commercial Foodservice segment during Q2 2026.
- 3
Adjusted EBITDA for the second quarter was $193 million, up from $182 million in the prior year.
- 4
The company successfully completed the spin-off of its Food Processing business on July 6, 2026, becoming a pure-play commercial foodservice company.
- 5
Middleby raised its FY 2026 guidance, expecting revenue growth of 6-8% in Commercial Foodservice.
- 6
Diluted GAAP EPS was $1.20 for Q2 2026, compared to $1.91 in the prior year, impacted by strategic transaction costs.
- 7
Adjusted EPS for Q2 2026 was $2.35, an increase from $2.20 in the prior year.
Management Comments
Tim FitzGerald
The second quarter marked a transformational milestone for our company as we successfully completed the separation of our Food Processing business and launched Midera as an independent, publicly traded leader in food processing equipment. With this separation, Middleby is now a pure-play commercial foodservice company, focused on driving innovation and growth across the global foodservice industry. Throughout this transformation, we remained committed to disciplined capital allocation, repurchasing approximately 1.4 million shares, or 3% of our outstanding shares, during the second quarter and 8.7 million shares, or 16% of our outstanding shares, over the past six quarters. These actions underscore our confidence in the strength of our business and our commitment to creating long-term shareholder value. We delivered strong second quarter results at our commercial foodservice business with 8% organic growth that was broad-based across channels, customer types, and regions. The strategic investments we have made in recent years are delivering results, and we continue to define the future of commercial foodservice through industry-leading innovation and customer-focused solutions. These results give us great confidence as we begin our journey as a pure-play commercial foodservice leader.
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