The Middleby Corporation filed its Form 10-Q for the quarterly period ended October 3, 2026, with the SEC on November 12, 2026, reporting third-quarter net sales of $652.6 million and a net loss of $1.6 million after discontinued-operations charges tied to the Midera spin-off.

Key Highlights

  • Net sales of $652,575 thousand for the three months ended October 3, 2026, compared with $606,001 thousand in the prior-year quarter, according to the filing.
  • Net loss of $1,615 thousand for the third quarter, with net earnings from continuing operations of $19,368 thousand offset by a loss from discontinued operations of $20,983 thousand, net of tax.
  • Midera spin-off recorded during the quarter, reducing retained earnings by $815,005 thousand and generating an accumulated other comprehensive income adjustment of $34,788 thousand.
  • Equity in losses of affiliate of $67,559 thousand year-to-date (net of tax), with $38,664 thousand recognized in the third quarter alone, related to the company's equity method investment.
  • Treasury stock purchases of $688,734 thousand for the nine months ended October 3, 2026, bringing treasury shares to 20,858,237.
  • Total assets of $3,930,637 thousand as of October 3, 2026, down from $6,315,166 thousand at January 3, 2026, reflecting the removal of discontinued-operations assets.
  • Shares outstanding of 43,555,491 as of November 9, 2026, per the filing cover page.

Middleby Reports Q3 2026 Results Amid Midera Spin-Off and Affiliate Losses

According to the filing, The Middleby Corporation (NASDAQ:MIDD) reported net sales of $652,575 thousand for the three months ended October 3, 2026, up from $606,001 thousand in the comparable prior-year period. Gross profit for the quarter was $249,671 thousand, against cost of sales of $402,904 thousand. Selling, general, and administrative expenses were $128,095 thousand, and the company disclosed impairment charges of $20,394 thousand in the quarter. Income from continuing operations before interest, pension, and other items was $98,726 thousand.

The filing disclosed that earnings from continuing operations before income taxes were $77,199 thousand for the third quarter. After a provision for income taxes of $19,167 thousand and equity in losses of affiliate of $38,664 thousand (net of tax), net earnings from continuing operations were $19,368 thousand. A loss from discontinued operations of $20,983 thousand, net of tax, resulted in a net loss of $1,615 thousand for the quarter. Basic and diluted loss per share were each $(0.04) for the three months ended October 3, 2026. For the nine months ended October 3, 2026, net sales totaled $1,898,724 thousand and net earnings were $3,124 thousand.

The Midera spin-off was reflected in the stockholders' equity statements, reducing retained earnings by $815,005 thousand during the quarter ended October 3, 2026. Total stockholders' equity stood at $1,331,017 thousand at quarter-end, compared with $2,776,229 thousand at January 3, 2026. Long-term debt was $1,708,352 thousand at October 3, 2026, down from $2,101,075 thousand at the prior fiscal year-end. Cash and cash equivalents were $104,327 thousand, compared with $131,657 thousand at January 3, 2026. The company also reported an equity method investment of $73,405 thousand and a note receivable of $84,053 thousand, both of which were zero at January 3, 2026, per the balance sheet.

What Was Disclosed

The Middleby Corporation's 10-Q for the quarter ended October 3, 2026, disclosed third-quarter net sales, a net loss driven by discontinued-operations charges from the Midera spin-off, significant equity-method affiliate losses, and substantial treasury stock repurchases totaling $688,734 thousand year-to-date.