Has anyone else been looking at $MIDD (The Middleby Corporation) after the earning miss this past week? They missed on expected EPS by $.11 (coming in at $1.31, which is only down $.02 from this quarter last year, and YTD, they are further ahead on EPS), though sales are up. It appears that the market did punish the stock a bit, as it has dropped nearly 10% and hit a 52 week low.
The stock is one of the roll-ups/ serial acquirers that is on my radar and it is finally starting to look attractive enough for me to start a position.
If you haven't heard of it before, their investor relations description of the company: "The Middleby Corporation is a worldwide manufacturer of commercial kitchen equipment, residential appliances and systems for industrial processing, packaging and baking. With more than 50 brands between the three business segments, Middleby develops, manufacturers, distributes and sells its products worldwide."
Since 2001, they have created a fair amount of shareholder return, have the #1 or 2 brand in a number of categories, and have had significant growth in sales, EPS and cash flow. However, like most roll-ups, there is a significant amount of goodwill and debt on the books. If you want an overall of the business, I would highly suggest reading the following:
- http://ift.tt/2fWKpAt
- Earnings releases and presentations at http://ift.tt/2hnBLet
Submitted November 11, 2017 at 08:27PM by SRD_Grafter http://ift.tt/2zyokm5
