Middleby's stock price surged 6.67% during pre-market trading following the release of better-than-expected first-quarter results and raised full-year guidance.
The food equipment maker reported Q1 2026 sales of $839.91 million, beating analyst estimates of $777.71 million. Adjusted earnings per share came in at $2.16, exceeding the $1.94 consensus estimate, while adjusted EBITDA of $181 million also topped expectations of $170.4 million.
Middleby raised its full-year 2026 guidance, now expecting net sales in the range of $3.36 billion to $3.44 billion compared to the FactSet estimate of $3.32 billion. The company also increased its adjusted EPS guidance to $9.54-$9.70 from the previous FactSet estimate of $9.29. Strong performance was driven by 8.1% organic sales growth in Commercial Foodservice and 25% growth in the Food Processing segment.