Published on 8 May 2024 on GuruFocus.com via Yahoo Finance
Middleby Corp (MIDD) Q1 Earnings: Misses Analyst Revenue Forecasts with Adjusted EPS Below ...
Reported Revenue: $927M, down 8% year-over-year, falling short of estimates of $978.58M.Net Earnings: $86.57M, down from $99.09M in the previous year, falling short of estimates of $112.37M.Deluted Earnings Per Share (EPS): $1.59, less than $1.82 year-over-year, below the estimated $2.06.Adjusted EBITDA: $185.8M, decreased from $210.9M in the prior year, indicating a reduction in profitability.Operating Cash Flows: Increased significantly to $141M from $92M in the previous year, highlighting improved cash generation.Organic Adjusted EBITDA Margin: Reported at 20.1%, reflecting operational efficiency amidst challenging market conditions.Net Leverage: Reduced to 2.4x, down from previous levels, improving the company's financial stability.
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