Middleby: 2Q Earnings Snapshot
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.