The Middleby Corp., a food preparation equipment company, reported second-quarter earnings of $54.8 million. On a per-share basis, the company said it had net income of $1.21. Earnings, adjusted for one-time gains and costs, were $2.35 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.28 per share. The company posted revenue of $875.5 million in the period, also exceeding Street forecasts.
For the current quarter ending in September, Middleby expects its per-share earnings to range from $1.67 to $1.83. The company said it expects revenue in the range of $620 million to $640 million for the fiscal third quarter.
Middleby expects full-year earnings in the range of $6.73 to $6.89 per share, with revenue ranging from $2.48 billion to $2.53 billion.
Original reporting: Alexandria, VA News – WTOP News — read the source article.
