Middleby’s Residential Business Down Significantly, They Say at a Trough

Earnings season has started, with Solo Brands reporting yesterday, and Middleby and Traeger reporting today. Unlike the positive news out of Solo Brands, you have to look a little harder for silver lining at Middleby’s Residential Kitchen performance.

Middleby bought Kamado Joe, Masterbuilt, and Char-Griller at the end of 2021. It turned out to be at a peak for the industry, so the financial performance for that part of Middleby Residential hasn’t been good since.