Q4 25 EPS
$2.14
MISS 5.24%
Est. $2.26
Q4 25 Revenue
$866.4M
MISS 14.29%
Est. $1.01B
vs S&P Since Q4 25
-4.8%
TRAILING MARKET
MIDD +3.3% vs S&P +8.0%
Full Year 2025 Results
FY 25 EPS
$8.39
MISS 7.27%
Est. $9.05
FY 25 Revenue
$3.20B
MISS 16.90%
Est. $3.85B
Market Reaction
Did MIDD Beat Earnings? Q4 2025 Results
Middleby Corporation delivered a disappointing finish to fiscal 2025, with Q4 earnings per share of $2.14 missing the $2.28 consensus estimate by 6.14% and revenue of $866.42 million falling 12.10% short of the $985.74 million Wall Street had anticip… Read more Middleby Corporation delivered a disappointing finish to fiscal 2025, with Q4 earnings per share of $2.14 missing the $2.28 consensus estimate by 6.14% and revenue of $866.42 million falling 12.10% short of the $985.74 million Wall Street had anticipated, while declining 14.5% year over year. The headline misses, however, reflect the restatement of all figures to exclude the Residential Kitchen segment as discontinued operations following the sale of a 51% stake to 26North at an $885 million enterprise valuation, a portfolio pivot that generated roughly $565 million in net cash proceeds. The continuing Commercial Foodservice segment posted $601.72 million in revenue while Food Processing contributed $264.70 million, with the latter logging record Q4 orders up 66% organically and backlog surging 36%. Looking ahead, management guided full-year 2026 revenue of $3.27 to $3.36 billion and adjusted EPS of $9.20 to $9.36, with the planned spin-off of the Food Processing business into a standalone public company on track for Q2 2026, a structural transformation that Wolfe Research cited in raising its price target to $193 while maintaining an Outperform rating.
Key Takeaways
- • Double-digit growth in dealer channel driven by independents, institutional customers, and fast casual chains
- • Record Q4 Food Processing orders increased 66% organically with year-end backlog up 36%
- • Strategic international expansion in Food Processing
- • Total Line Solutions driving Food Processing demand
- • Adverse tariff impact of $7 million in Q4 and $21 million for full year
MIDD YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
MIDD Revenue by Segment
With YoY comparisons, source: SEC Filings
“2025 was a transformational year for Middleby as we executed decisive portfolio actions to unlock significant shareholder value. We recently completed the sale of a 51% stake in our Residential Kitchen business at an $885 million enterprise valuation, first announced in December, delivering approximately $565 million in cash proceeds while retaining meaningful upside through our 49% ownership. In anticipation of the proceeds from this transaction, combined with one of the most aggressive capital return programs in our industry, we deployed $710 million in share repurchases in 2025, reducing our share count by approximately 9%. We remain on track to complete the separation of our Food Processing business in the second quarter of 2026, creating two independent, pure-play industry leaders with enhanced focus and optimized capital structures.”
— Tim FitzGerald, Q4 2025 Earnings Press Release
MIDD Earnings Trends
MIDD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MIDD EPS Trend
Earnings per share: estimate vs actual
MIDD Revenue Trend
Quarterly revenue: estimate vs actual
MIDD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.94 | $2.16 | +11.47% | $839.9M | +8.08% |
| Q4 25 MISS FY | $2.26 | $2.14 | -5.24% | $866.4M | -14.29% |
| FY Full Year | $9.05 | $8.39 | -7.27% | $3.20B | -16.90% |
| Q3 25 BEAT | $2.07 | $2.37 | +14.50% | $982.1M | +2.18% |
| Q2 25 BEAT | $2.23 | $2.35 | +5.29% | $977.9M | +0.31% |
| Q1 25 BEAT | $1.97 | $2.08 | +5.35% | $906.6M | -3.52% |