MIDD - Cooking Equipment Company Middleby Misses On Q3 Topline Hit By Inventory De-Stocking Rising Interest Rate Headwinds | Benzinga

Middleby Corp (NASDAQ: MIDD) reported a third-quarter FY23 net sales decline of 1.2% year-over-year to $980.65 million, -4.4% on an organic basis, missing the consensus of $1.02 billion.

Sales by segments: Commercial Foodservice $634.01 million (+2.3% Y/Y), Residential Kitchen $179.97 million (-18.6% Y/Y), and Food Processing $166.67 million (+9.5% Y/Y).

Adjusted EPS improved by 8% Y/Y to $2.35, Full story available on Benzinga.com