MIDDLEBY CorpMIDDEarnings & Financial Report
The Middleby Corporation is a publicly traded American company based in Elgin, Illinois. The company manufactures commercial cooking equipment, industrial processing equipment, and residential appliances. The commercial cooking equipment side of Middleby does business with 97 out of the top 100 food service chains in the United States and internationally.
Revenue
$906.6M
Gross Profit
$345.9M
Operating Profit
$140.6M
Net Profit
$92.4M
Gross Margin
38.2%
Operating Margin
15.5%
Net Margin
10.2%
YoY Growth
-2.2%
EPS
$1.69
MIDDLEBY Corp Q1 FY2025 Financial Summary
MIDDLEBY Corp reported revenue of $906.6M (down 2.2% YoY) for Q1 FY2025, with a net profit of $92.4M (up 6.7% YoY) (10.2% margin). Cost of goods sold was $560.7M, operating expenses totaled $205.3M.
Key Financial Metrics
| Total Revenue | $906.6M |
|---|---|
| Net Profit | $92.4M |
| Gross Margin | 38.2% |
| Operating Margin | 15.5% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
MIDDLEBY Corp Q1 FY2025 revenue of $906.6M breaks down across 3 segments, led by Commercial Foodservice Equipment Group at $421.8M (46.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Commercial Foodservice Equipment Group | $421.8M | 46.5% |
| Other | $345.9M | 38.1% |
| Food Processing Group | $138.9M | 15.3% |
MIDDLEBY Corp Revenue by Segment — Quarterly Trend
MIDDLEBY Corp revenue by segment across the last 4 reported quarters, showing how each business line (such as Commercial Foodservice Equipment Group and Other) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Commercial Foodservice Equipment Group | — | $433.7M | $412.6M | $421.8M |
| Other | — | $316.8M | $329.2M | $345.9M |
| Food Processing Group | — | $120.8M | $125.0M | $138.9M |
MIDDLEBY Corp Annual Revenue by Year
MIDDLEBY Corp annual revenue history includes year-by-year totals (for example, 2025 revenue was $3.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $3.7B |
| 2024 | $3.9B |
| 2023 | $4.0B |
| 2022 | $4.0B |
| 2021 | $3.3B |
MIDDLEBY Corp Quarterly Revenue & Net Profit History
MIDDLEBY Corp results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $866.4M | -30.6% | $36.9M | 4.3% |
| Q3 FY2025 | $982.1M | +4.2% | $-513.0M | -52.2% |
| Q2 FY2025 | $977.9M | -1.4% | $106.0M | 10.8% |
| Q1 FY2025 | $906.6M | -2.2% | $92.4M | 10.2% |
| Q4 FY2024 | $1.0B | +0.5% | $112.3M | 11.1% |
| Q3 FY2024 | $942.8M | -3.9% | $114.2M | 12.1% |
| Q2 FY2024 | $991.5M | -4.7% | $115.4M | 11.6% |
| Q1 FY2024 | $926.9M | -8.0% | $86.6M | 9.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $926.9M | $991.5M | $942.8M | $1.01B | $906.6M | $977.9M | $982.1M | $866.4M |
| YoY Growth | -8.0% | -4.7% | -3.9% | 0.5% | -2.2% | -1.4% | 4.2% | -30.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $6.93B | $7.03B | $7.20B | $7.28B | $7.40B | $7.34B | $6.35B | $6.32B |
| Liabilities | $3.62B | $3.60B | $3.61B | $3.64B | N/A | N/A | N/A | $3.54B |
| Equity | $3.31B | $3.42B | $3.59B | $3.64B | $3.73B | $3.62B | $2.94B | $2.78B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $140.9M | $149.5M | $156.7M | $239.7M | $141.1M | $122.0M | $176.3M |