ELGIN, Ill. (AP) 鈥� ELGIN, Ill. (AP) 鈥� The Middleby Corp. (MIDD) on Thursday reported a loss of $50.1 million in its first quarter.
On a per-share basis, the Elgin, Illinois-based company said it had a loss of $1.06. Earnings, adjusted for one-time gains and costs, were $2.16 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The food preparation equipment company posted revenue of $839.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $777.1 million.
For the current quarter ending in June, Middleby expects its per-share earnings to range from $2.27 to $2.39.
The company said it expects revenue in the range of $815 million to $850 million for the fiscal second quarter.
Middleby expects full-year earnings in the range of $9.54 to $9.70 per share, with revenue ranging from $3.36 billion to $3.44 billion.
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