Middleby: 3Q Earnings Snapshot
ELGIN, Ill. (AP) _ The Middleby Corp. (MIDD) on Wednesday reported third-quarter net income of $72.9 million.
The Elgin, Illinois-based company said it had profit of $1.31 per share. Earnings, adjusted for restructuring costs, came to $1.56 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The food preparation equipment company posted revenue of $713.3 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $726.9 million.
Middleby shares have declined 16 percent since the beginning of the year. The stock has declined 5 percent in the last 12 months.