Middleby Q3 net sales up 28.8% to $817.5M; adj EPS $1.92, record backlog $1.2B

MIDDLEBY Corp

2021-Q3 EPS reported $6.83 revenue$2,384,376,000

GAAP net earnings $176.0M ($3.09 diluted EPS); adjusted net earnings $106.4M ($1.92 adjusted diluted EPS).
Organic net sales growth 22.4% across all segments; commercial foodservice organic sales +31.9%, residential +14.2%.
Record backlog of $1.2B vs $522.7M at FY-end 2020, driven by strong order growth.
Adjusted EBITDA $172.2M (21.1% margin); operating cash flow $173.7M, including $77.3M termination fee net of taxes.
CEO cites supply chain disruptions and inflation; proactive pricing adjustments expected to benefit Q4.

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