The Middleby Corporation (MIDD) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.374 Good day and welcome to the Middleby Corporation's second quarter 2026 earnings 00:00:05.374 -- 00:00:10.597 conference call. All participants will be in listen-only mode. 00:00:10.597 -- 00:00:17.180 On today's call are Tim FitzGerald, CEO, and Brittany Cerwin, CFO. 00:00:17.180 -- 00:00:21.282 After today's presentation, there will be an opportunity to ask questions. 00:00:21.282 -- 00:00:24.664 Please note, this event is being recorded. 00:00:24.664 -- 00:00:27.406 I would now like to turn the conference over to Tim FitzGerald. 00:00:27.406 -- 00:00:29.025 Please go ahead. 00:00:29.025 -- 00:00:32.407 Good morning, and thank you for joining today's call. 00:00:32.407 -- 00:00:37.569 Early last year, we set out to separate our three leading food service businesses 00:00:37.569 -- 00:00:42.711 into independent companies to best position each business for long-term growth 00:00:42.711 -- 00:00:46.173 and to unlock value for all of our shareholders. 00:00:46.173 -- 00:00:51.275 We completed the first step in Q1 of this year, selling a controlling stake in the 00:00:51.275 -- 00:00:55.156 residential kitchen business to 26 North. 00:00:55.303 -- 00:01:00.486 And on July 6, we completed the spinoff of our food processing business, 00:01:00.486 -- 00:01:05.748 launching Madeira as a separately publicly traded company. 00:01:05.748 -- 00:01:10.991 Madeira now, as a standalone business, is extremely well positioned as a best-in-class 00:01:10.991 -- 00:01:14.633 leader in the growing food processing equipment industry. 00:01:14.633 -- 00:01:21.136 And we are confident that business and the Madeira team has a very bright future ahead. 00:01:21.136 -- 00:01:23.878 With that, the transformation is complete. 00:01:23.878 -- 00:01:28.059 I'm ...