In a sliding market, Middleby has defied the odds, trading up to $157.28 per share. Its 13% gain since September 2024 has outpaced the S&P 500’s 1.4% drop. This was partly thanks to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
Earnings results often indicate what direction a company will take in the months ahead. With Q4 behind us, let’s have a look at Hyster-Yale Materials Handling (NYSE:HY) and its peers.
Kitchen product manufacturer Middleby (NYSE:MIDD) announced better-than-expected revenue in Q4 CY2024, but sales were flat year on year at $1.01 billion. Its non-GAAP profit of $2.88 per share was 14.2% above analysts’ consensus estimates.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Hyster-Yale Materials Handling (NYSE:HY) and its peers.
Shares of kitchen product manufacturer Middleby (NYSE:MIDD)
jumped 15.1% in the afternoon session after The Wall Street Journal reported that activist Garden Investments built a ~5% stake in the company and plans to push for changes. This move is noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
From a preschool teacher newly inspired to invest at 73 to a lifelong Fool whose Microsoft shares became a 500-bagger, this year-end mailbag edition brims with transformational stories.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the professional tools and equipment industry, including Kennametal (NYSE:KMT) and its peers.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Middleby (NASDAQ:MIDD) and the rest of the professional tools and equipment stocks fared in Q3.
Middleby trades at $141.72 per share and has stayed right on track with the overall market, gaining 12.6% over the last six months. At the same time, the S&P 500 has returned 13.5%.
Kitchen product manufacturer Middleby (NYSE:MIDD) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 3.9% year on year to $942.8 million. Its non-GAAP profit of $2.33 per share was also 5.9% below analysts’ consensus estimates.
