Middleby Q1 net sales down 8% to $927M; adjusted EPS $1.89

MIDDLEBY Corp

2024-Q1 EPS reported $1.59 revenue$926,926,000

Net sales $927M, down 8.0% YoY (organic -8.7%); GAAP EPS $1.59, adjusted EPS $1.89.
Adjusted EBITDA $186M (20.0% margin vs 20.9% prior year); organic margin 20.1%.
Operating cash flow $141M, up from $92M; net leverage reduced to 2.4x.
CEO expects improved Q2; segment organic sales: Commercial -4.2%, Residential -22.3%, Food Processing -7.7%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MIDDLEBY Corp reported first quarter ended March 30, 2024 results: revenue Net sales of $927 million, EPS Diluted earnings per share of $1.59 and adjusted net earnings per share of $1.89.

Period: first quarter ended March 30, 2024
Revenue: Net sales of $927 million
EPS: Diluted earnings per share of $1.59 and adjusted net earnings per share of $1.89
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- 1400 Toastmaster Drive, Elgin, Illinois 60120 (847) 741-3300 www.middleby.com The Middleby Corporation Reports First Quarter Results • Net sales of $927 million • Adjusted EBITDA of $186 million • Organic adjusted EBITDA margin of 20.1% • Operating cash flows of $141 million • Diluted earnings per share of $1.59 and adjusted net earnings

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Source: SEC EDGAR

accession 0000769520-24-000013

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