Filing Flows › Middleby (MIDD) › Q2 2026 › vs Q2 2025
Middleby (MIDD) Q2 2026 vs Q2 2025 (year over year)
Middleby's revenue rose $78.8M (+10%) from $797M in Q2 2025 to $876M in Q2 2026. The biggest changes: Commercial Foodservice Equipment Group +$50.0M (+9%); Food Processing Group +$28.7M (+13%). Gross margin 38.3% against 39.7% (-1.4 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 38.3% | 39.7% | -1.4 pts |
| Operating margin | 16.9% | 18.6% | -1.7 pts |
| Net margin | 6.3% | 13.3% | -7.0 pts |
| Free cash flow margin | 9.9% | 13.5% | -3.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Commercial Foodservice Equipment Group | $631M | $581M | $50.0M | +9% |
| Food Processing Group | $245M | $216M | $28.7M | +13% |
| Revenue | $876M | $797M | $78.8M | +10% |
| Gross profit | $335M | $316M | $19.0M | +6% |
| Cost of revenue | $540M | $481M | $59.8M | +12% |
| Operating profit | $148M | $148M | −$69K | 0% |
| Operating expenses | $187M | $168M | $19.0M | +11% |
| Pre-tax earnings | $98.1M | $131M | −$33.2M | -25% |
| Other expense, net | $49.7M | $16.5M | $33.2M | +201% |
| SG&A | $187M | $168M | $19.0M | +11% |
| Other operating costs | $732K | $687K | $45K | +7% |
| Net earnings | $54.8M | $106M | −$51.1M | -48% |
| Income tax | $43.3M | $25.4M | $17.9M | +71% |
| Depreciation & amortization | $25.8M | $26.1M | −$298K | -1% |
| Share-based compensation | $7.3M | $5.6M | $1.7M | +30% |
| Working capital & other | $9.8M | −$15.6M | $25.5M | — |
| Operating cash flow | $97.7M | $122M | −$24.3M | -20% |
| Free cash flow (OCF − capex) | $87.0M | $107M | −$20.4M | -19% |
| Capital expenditures | $10.7M | $14.6M | −$3.9M | -27% |
Questions
How much did Middleby's revenue grow year over year in Q2 2026?
Middleby's revenue rose $78.8M (+10%) from $797M in Q2 2025 to $876M in Q2 2026.
What drove Middleby's revenue change in Q2 2026?
Commercial Foodservice Equipment Group +$50.0M (+9%); Food Processing Group +$28.7M (+13%).