Middleby's Performance Lags as Its Customers Struggle
Companies are only as strong as the customers they serve, and the residential and commercial customers of kitchen-equipment provider Middleby (NASDAQ: MIDD) have been experiencing a combination of issues lately that have made them less likely to order its products. Middleby has therefore been seeing weaker sales, even as it has made acquisitions to expand its business and serve a wider range of potential buyers.
Coming into its second-quarter financial report, Middleby investors were looking for modest gains in revenue that would translate into healthier earnings. Instead, sales performance was more sluggish than anticipated, and some investors seemed to want more assurance that Middleby would act more forcefully to get its existing operations moving in the right direction. Let's take a closer look at what the kitchen equipment company's latest report says about its future.
Image source: Middleby.
Source: Fool.com
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