NasdaqGS:MIDDMachinery
Middleby (MIDD) Stock Slides As Margin Pressure Hits Pure Play Pivot
Middleby stock just took an almost 8% hit to around US$120, even though the headline from Q2 is a cleaner, more focused business with solid Commercial Foodservice momentum. The quarter landed with about US$876m of revenue and adjusted earnings power centered in Commercial Foodservice, which posted strong organic growth and a mid 20s adjusted EBITDA margin. The real story for you is not a single quarter of EPS; it is a newly pure play foodservice equipment company facing a margin squeeze in...