MIDDLEBY CORP (MIDD) announced earnings for first quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line came in at $86.5 million, or $1.59 per share. This compares with $99.1 million, or $1.82 per share, in last year's first quarter.
Excluding items, MIDDLEBY CORP reported adjusted earnings of $101.4 million or $1.89 per share for the period.
Analysts on average had expected the company to earn $2.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 7.3% to $927 million from $1.0 billion last year.
MIDDLEBY CORP earnings at a glance (GAAP) :
-Earnings (Q1): $86.5 Mln. vs. $99.1 Mln. last year.
-EPS (Q1): $1.59 vs. $1.82 last year.
-Revenue (Q1): $927 Mln vs. $1.0 Bln last year.
For comments and feedback: editorial@rttnews.com