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Dec 28, 2024
Middleby Q4 2024 Earnings Report
Middleby reported slight revenue growth and strong profitability in Q4 2024.
Key Takeaways
Middleby Corporation posted Q4 2024 revenue of $1.01 billion, reflecting a 0.5% year-over-year increase. Operating income rose to $170 million, representing 16.8% of net sales. Adjusted EPS increased to $2.88, driven by margin improvements in the Food Processing segment. Free cash flow reached $229 million, and the company continued its deleveraging efforts, reducing its net leverage ratio to 2.0x.
Total revenue increased 0.5% year-over-year to $1.01 billion.
Operating income improved to $170 million, with a margin of 16.8%.
Adjusted EPS rose to $2.88, driven by efficiency gains in Food Processing.
Free cash flow totaled $229 million, supporting further debt reduction.
Revenue by Segment
Forward Guidance
Middleby expects revenue growth in all three segments in 2025, driven by product innovation and operational efficiencies.
Positive Outlook
- Revenue expected to grow across all segments throughout 2025.
- Continued strong performance expected in Food Processing.
- Operational efficiencies and strategic investments to drive margin expansion.
- Further deleveraging planned with strong cash generation.
- Acquisition strategy expected to enhance market leadership.
Challenges Ahead
- Macroeconomic conditions may challenge demand in Commercial Foodservice.
- Residential Kitchen segment still facing weak market conditions.
- Foreign exchange fluctuations may impact revenue growth.
- Higher input costs could put pressure on profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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