Middleby completes spin-off of Midera; pro forma shows continuing ops net earnings of $70.7M in Q1 2026

MIDDLEBY Corp

Each MIDD shareholder received one share of Midera (MFP) for each share held as of June 26, 2026.
Midera distributed $233M cash to Middleby, used to repay debt; pro forma long-term debt reduced to $1.57B.
Pro forma net earnings from continuing ops: $70.7M ($1.50 diluted EPS) for Q1 2026; $288.5M ($5.53) for FY2025.
Pro forma net sales from continuing ops: $616.9M (Q1 2026) and $2.36B (FY2025), down from reported totals.
Middleby expects to incur ~$40.3M in additional transaction costs within 12 months post-spin.

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