MIDDLEBY Corp
For the period ended Dec 30, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
MIDD$138.00+1.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Earnings
(amounts in thousands, except per share data)
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Net sales | $4,036,605 | $4,032,853 | $3,250,792 |
| Cost of sales | 2,502,543 | 2,586,299 | 2,055,932 |
| Gross profit | 1,534,062 | 1,446,554 | 1,194,860 |
| Selling, general, and administrative expenses | 806,946 | 797,234 | 667,976 |
| Restructuring expenses | 14,134 | 9,716 | 7,655 |
| Impairments | 78,114 | — | — |
| Merger termination fee | — | — | (110,000) |
| Gain on sale of plant | — | — | (763) |
| Income from operations | 634,868 | 639,604 | 629,992 |
| Interest expense and deferred financing amortization, net | 120,348 | 88,977 | 57,157 |
| Net periodic pension benefit (other than service cost & curtailment) | (9,071) | (42,681) | (45,066) |
| Other expense (income), net | 4,213 | 28,893 | (1,603) |
| Earnings before income taxes | 519,378 | 564,415 | 619,504 |
| Provision for income taxes | 118,496 | 127,846 | 131,012 |
| Net earnings | $400,882 | $436,569 | $488,492 |
| Net earnings per share: | |||
| Basic | $7.48 | $8.07 | $8.85 |
| Diluted | $7.41 | $7.95 | $8.62 |
| Weighted average number of shares | |||
| Basic | 53,577 | 54,095 | 55,216 |
| Dilutive common stock equivalents | 509 | 852 | 1,449 |
| Diluted | 54,086 | 54,947 | 56,665 |
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