Middleby's Fiscal Q3 Adjusted Earnings, Net Sales Rise; Provides Fiscal Q4, 2026 Guidance; CEO to Step Down

08:58 AM EST, 11/05/2026 (MT Newswires) -- Middleby (MIDD) reported fiscal Q3 adjusted earnings Thursday of $2.07 per diluted share, compared with $1.74 a year earlier. Analysts surveyed by FactSet expected $1.75. Net sales for the quarter ended Oct. 3 were $652.6 million, compared with $606 million a year earlier. Analysts surveyed by FactSet expected $634 million. The company expects fiscal Q4 adjusted EPS of $1.76 to $1.92 and revenue of $621 million to $635 million. Analysts surveyed by FactSet expect fiscal Q4 adjusted EPS of $1.79 and revenue of $631 million. For fiscal 2026, the company raised its adjusted EPS guidance to a range of $7.13 to $7.29 from its previous outlook of $6.73 to $6.89. It also narrowed its net sales outlook to $2.50 billion to $2.53 billion from $2.48 billion to $2.53 billion Analysts surveyed by FactSet expect fiscal 2026 adjusted EPS of $6.82 and net sales of $2.51 billion. Middleby also said Thursday that Chief Executive Officer Timothy FitzGerald will step down from his position and his seat of the company's board of directors, starting March 31. The company promoted Chief Commercial Officer Steven Spittle to president, effective immediately, and he will succeed FitzGerald as CEO April 1. He will also become a member of the board.