MIDDLEBY Corp [MIDD] has reported a net loss of $400.9 million for year ended Dec 30, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $4.0 billion
Based in ELGIN, Illinois, MIDDLEBY Corp operates in the MANUFACTURING sector.
In the consolidated statements of earnings for the annual periods ending December 30, 2023, December 31, 2022, and January 1, 2022, the following key financial figures were reported:
1. Net Sales:
- Dec. 30, 2023: $4,036.6 million
- Dec. 31, 2022: $4,032.9 million
- Jan. 01, 2022: $3,250.8 million
2. Cost of Sales:
- Dec. 30, 2023: $2,502.5 million
- Dec. 31, 2022: $2,586.3 million
- Jan. 01, 2022: $2,055.9 million
3. Gross Profit:
- Dec. 30, 2023: $1,534.1 million
- Dec. 31, 2022: $1,446.6 million
- Jan. 01, 2022: $1,194.9 million
4. Net Earnings:
- Dec. 30, 2023: $400.9 million
- Dec. 31, 2022: $436.6 million
- Jan. 01, 2022: $488.5 million
5. Earnings per Share:
- Basic:
- Dec. 30, 2023: $7.48
- Dec. 31, 2022: $8.07
- Jan. 01, 2022: $8.85
- Diluted:
- Dec. 30, 2023: $7.41
- Dec. 31, 2022: $7.95
- Jan. 01, 2022: $8.62
Overall, the company experienced a slight decrease in net sales for the fiscal year ending December 30, 2023, compared to the previous year. However, the gross profit increased modestly. The net earnings showed a decline from the previous year, reflecting potential challenges faced by the company during the reporting period. Earnings per share also exhibited a downward trend in both basic and diluted amounts when compared to the prior year's figures.
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