secwatch.observer — SEC 8-K summary
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Issuer:     MIDDLEBY Corp (MIDD)
CIK:        0000769520
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000769520-24-000031
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Middleby Q2 net sales $992M (-4.7% YoY); EPS $2.13 ($2.39 adjusted)
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- Diluted GAAP EPS $2.13; adjusted EPS $2.39; operating income $176M (17.7% of sales).
- Organic sales -4.8% YoY; Commercial Foodservice -3.9%, Residential -6.7%, Food Processing -5.7%.
- Adjusted EBITDA $216M (21.8% organic margin); operating cash flow $149.5M (record).
- Net leverage reduced to 2.3x; net debt $2.0B vs $2.2B at FY 2023 end.
- Orders trended positively in all three segments vs Q2 2023; positioned for H2 growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/769520/000076952024000031/0000769520-24-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/769520/000076952024000031/midd-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000769520-24-000031

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