Business
The Middleby Corporation Reports Fourth Quarter and Fiscal Year Results
Q4 & FY 2025 Results Exceeded High End of Guidance Range for Revenue, Adj. EBITDA and Adj. EPS Initiates 2026 Organic Growth Guidance of +1-3% in Commercial
About this update from The Middleby Corporation
[{"type":"text","content":"\nQ4 & FY 2025 Results Exceeded High End of Guidance Range for Revenue, Adj. EBITDA and Adj. EPS\n\n\nInitiates 2026 Organic Growth Guidance of +1-3% in Commercial Foodservice and +4-6% in Food Processing\n\n\nRepurchased 4.9 Million Shares (9.1% of Equity) in 2025 and 1.7 Million Shares (3.5% of Equity) YTD 2026\n\n\nFOURTH QUARTER CONTINUING OPERATIONS HIGHLIGHTS\n\n\n\nAll results reflect Residential Kitchen as discontinued operations unless otherwise stated\n\n\n\nNet Sales of $866 million increased 5% over prior year; marginally positive on organic basis\n\n\n\nRecord Q4 Food Processing orders increased 66% organically and year-end backlog up 36%\n\n\n\nOperating income of $150 million, as compared to $182 million in prior year\n\n\n\nAdjusted EBITDA of $197 million as compared to $226 million in prior year\n\n\n\nDiluted GAAP EPS of $1.72 vs $1.81 if Residential Kitchen was not classified as discontinued operations\n\n\n\nAdjusted EPS of $2.14 or $2.42 if Residential Kitchen was not classified as discontinued operations which is comparable to guidance of $2.19-$2.34\n\n\n\nQ4 ending Net leverage at 2.5x\n\n\n\nRESIDENTIAL KITCHEN TRANSACTION COMMENTARY\n\n\n\nSale of 51% of Residential Kitchen Business completed February 2, 2026\n\n\n\nBusiness was valued at approximately $885 million\n\n\n\nMiddleby received net cash proceeds of approximately $565 million and a $135 million promissory note from the joint venture\n\n\n\nMiddleby retains a 49% non-controlling interest in the new standalone joint venture with 26North\n\n\n\nFinancial results for all periods presented have been restated to reflect Residential Kitchen results as discontinued operations, excluded from continuing operations\n\n\n\nThe assets of the Residential Kitchen business are reported as assets held for sale\n\n\n\nAdjusted net earning and Adjusted EPS will exclude the non-controlling interest\n\n\n\n ELGIN, Ill.--(BUSINESS WIRE)--\nThe Middleby Corporation (NASDAQ: MIDD), a leading worldwide manufacturer of equipment for the commercial foodservice and food processing industries, today reported net earnings for the fourth quarter and fiscal year of 2025.\n\n\nTim FitzGerald, CEO of The Middleby Corporation said, “2025 was a transformational year for Middleby as we executed decisive portfolio actions to unlock significant shareholder value. We recently compl...