Middleby: 2Q Earnings Snapshot
ELGIN, Ill. (AP) _ The Middleby Corp. (MIDD) on Wednesday reported second-quarter profit of $84 million.
The Elgin, Illinois-based company said it had net income of $1.51 per share. Earnings, adjusted for non-recurring costs, came to $1.63 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The food preparation equipment company posted revenue of $668.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $651.4 million.
Middleby shares have decreased 22 percent since the beginning of the year. The stock has decreased 19 percent in the last 12 months.