Middleby: 3Q Earnings Snapshot
ELGIN, Ill. (AP) _ The Middleby Corp. (MIDD) on Wednesday reported third-quarter earnings of $82 million.
The Elgin, Illinois-based company said it had profit of $1.47 per share. Earnings, adjusted for one-time gains and costs, came to $1.72 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The food preparation equipment company posted revenue of $724 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $762.3 million.
Middleby shares have increased 21% since the beginning of the year. The stock has increased 11% in the last 12 months.