Filing Flows › Middleby (MIDD) › Q2 2026 › vs Q1 2026
Middleby (MIDD) Q2 2026 vs Q1 2026 (quarter over quarter)
Middleby's revenue rose $35.6M (+4%) from $840M in Q1 2026 to $876M in Q2 2026. The biggest changes: Food Processing Group +$20.6M (+9%); Commercial Foodservice Equipment Group +$15.1M (+2%). Gross margin 38.3% against 38.5% (-0.2 pts).
Middleby, Q2 2026: revenue $876M (+10% year over year), operating margin 16.9%, net earnings $54.8M, operating cash flow $97.7M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 38.3% | 38.5% | -0.2 pts |
| Operating margin | 16.9% | 15.9% | +1.0 pts |
| Net margin | 6.3% | -6.0% | +12.2 pts |
| Free cash flow margin | 9.9% | 6.9% | +3.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Commercial Foodservice Equipment Group | $631M | $616M | $15.1M | +2% |
| Food Processing Group | $245M | $224M | $20.6M | +9% |
| Revenue | $876M | $840M | $35.6M | +4% |
| Gross profit | $335M | $323M | $11.9M | +4% |
| Cost of revenue | $540M | $517M | $23.8M | +5% |
| Operating profit | $148M | $133M | $14.4M | +11% |
| Operating expenses | $187M | $190M | −$2.5M | -1% |
| Pre-tax earnings | $98.1M | −$22.4M | $121M | — |
| Other expense, net | $49.7M | $156M | −$106M | -68% |
| SG&A | $187M | $188M | −$1.7M | -0.9% |
| Other operating costs | $732K | $1.5M | −$807K | -52% |
| Net earnings | $54.8M | −$50.1M | $105M | — |
| Income tax | $43.3M | $27.6M | $15.6M | +57% |
| Depreciation & amortization | $25.8M | $25.5M | $296K | +1% |
| Share-based compensation | $7.3M | $10.1M | −$2.8M | -28% |
| Working capital & other | $9.8M | $80.1M | −$70.3M | -88% |
| Operating cash flow | $97.7M | $65.6M | $32.1M | +49% |
| Free cash flow (OCF − capex) | $87.0M | $57.7M | $29.4M | +51% |
| Capital expenditures | $10.7M | $7.9M | $2.8M | +35% |
Questions
How much did Middleby's revenue grow quarter over quarter in Q2 2026?
Middleby's revenue rose $35.6M (+4%) from $840M in Q1 2026 to $876M in Q2 2026.
What drove Middleby's revenue change in Q2 2026?
Food Processing Group +$20.6M (+9%); Commercial Foodservice Equipment Group +$15.1M (+2%).