secwatch.observer — SEC 8-K summary
======================================

Issuer:     MIDDLEBY Corp (MIDD)
CIK:        0000769520
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0000769520-24-000013
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/769520/000076952024000013/0000769520-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/769520/000076952024000013/midd-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000769520-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer