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

Issuer:     MIDDLEBY Corp (MIDD)
CIK:        0000769520
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001193125-24-039322
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Middleby reports record Q4 adjusted EBITDA $235M, up 1% YoY; adjusted EPS $2.65
-------------------------------------------------------------------------------

- Record Q4 adjusted EBITDA $235M (+1% YoY); organic adjusted EBITDA margin 23.6% vs 22.6% prior year.
- Diluted EPS $1.42; adjusted EPS $2.65 (+3% YoY). Net sales down 2.2% (organic -4.7%).
- Record operating cash flow $256M Q4, $629M FY; net leverage <2.5x; net debt $2.2B vs $2.6B FY22.
- Operating income includes $78.1M impairment charges on tradenames in Residential Kitchen segment.
- Completed acquisition of GBT GmbH Bakery Technology, expanding Food Processing Group's industrial bakery portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/769520/000119312524039322/0001193125-24-039322-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/769520/000119312524039322/d48816d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-039322

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