Filing Flows › Middleby (MIDD) › Q1 2026
Middleby (MIDD) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Middleby (MIDD) reported revenue of $840M for the first quarter 2026 (Q1 2026), +15% from a year earlier and -3% from the quarter before. Operating margin was 15.9%, net loss $50.1M (6.0% of revenue).
Middleby, Q1 2026: revenue $840M (+15% year over year), operating margin 15.9%, net loss $50.1M, operating cash flow $65.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $840M | -3% | +15% |
| Operating profit | $133M | -84% | -5% |
| Net earnings | −$50.1M | -236% | -154% |
| Operating cash flow | $65.6M | -66% | -54% |
| Free cash flow | $57.7M | -70% | -50% |
What changed
Revenue was $839.9M in Q1 2026, up 15% year over year and down 3% from the previous quarter. Commercial Foodservice Equipment Group was the largest line at 73% of revenue. Food Processing Group added $56.5M year over year (up 34%), 52% of the total change.
Gross margin was 38.5%, down 1.6 points from Q1 2025. Operating profit was $133.4M, a 15.9% margin (down 1.9 points year over year). Of the extra revenue versus Q1 2025, 4% reached operating profit, below the 18% margin then. Operating expenses grew 16% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+23%). The quarter ended with a net loss of $50.1M, after a profit of $36.9M the previous quarter. Net interest and other expense of $155.8M was the main reason.
Operating cash flow was $65.6M (down 54% year over year). Non-cash charges added back $25.5M of depreciation and amortization and $10.1M of share-based compensation. Working capital and other items added $80.1M. Capital expenditures of $7.9M left free cash flow of $57.7M.
Questions
What was Middleby's revenue in the first quarter 2026?
Middleby (MIDD) reported revenue of $840M for the first quarter 2026 (Q1 2026), +15% from a year earlier and -3% from the quarter before.
Was Middleby profitable in the first quarter 2026?
Operating profit was $133M (15.9% of revenue) and net loss $50.1M.
Source: Middleby 10-Q on SEC EDGAR.