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Middleby: 2Q Earnings Snapshot

August 7, 2019

ELGIN, Ill. (AP) _ The Middleby Corp. (MIDD) on Wednesday reported second-quarter net income of $92.2 million.

On a per-share basis, the Elgin, Illinois-based company said it had profit of $1.66. Earnings, adjusted for restructuring costs, came to $1.70 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.

The food preparation equipment company posted revenue of $761 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $775.2 million.

Middleby shares have risen 24% since the beginning of the year. The stock has risen 22% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MIDD at https://www.zacks.com/ap/MIDD

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