secwatch.observer — SEC 8-K summary
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Issuer:     MIDDLEBY Corp (MIDD)
CIK:        0000769520
Form:       8-K
Filed at:   2022-05-10T23:59:59+00:00
Accession:  0001157523-22-000597
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Middleby Q1 net sales $994.7M, adj. EPS $2.13; records amid supply challenges
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- Net earnings $85.8M ($1.52 diluted EPS); adjusted net earnings $116.3M ($2.13 adjusted diluted EPS).
- Net sales $994.7M, +31.2% reported; organic growth 11.7% across all segments.
- Adjusted EBITDA $197.3M (19.8% margin); operating cash flow deficit $15.3M due to inventory build.
- Backlog at record; CEO expects improvement in H2 2022 and into 2023.
- Leverage ratio 3.1x; net debt $2.5B; borrowing availability ~$2.0B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/769520/000115752322000597/0001157523-22-000597-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/769520/000115752322000597/a52713711.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000597

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