Aga maker cuts almost 200 jobs as soaring energy bills dent sales [Yahoo! Finance]
The Middleby Corporation (MIDD)
Last the middleby corporation earnings: 2/26 07:00 am
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Source: Yahoo! Finance
Revenues at the oven maker, long a staple of middle-class kitchens across the country, plunged by £29m to almost £116m in 2023, according to company accounts. Pre-tax profits fell from £20m to just above £8m. The decline spurred a major reduction in headcount, with Aga reducing its workforce from 836 to 660 people. Most of those jobs were in its production departments. Aga said it had been negatively affected by inflation in the cost of energy, raw materials, components and wages, which, combined with high interest rates, led to “demand headwinds”. Admired for their durability and aesthetic, Aga's ovens are some of the most expensive on the market, costing well into the tens of thousands of pounds for some models. Some can be used for heating homes as well as cooking food. They are notoriously fuel-hungry, especially in the older gas-powered models, which can heap a financial burden on owners at a time when energy prices are well above historical levels. A gas-powered Aga c
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MIDD
News
- Masterbuilt® AutoIgnite Grill Selected As A Good Housekeeping 2024 Best Kitchen Gear Award Winner [Yahoo! Finance]Yahoo! Finance
- The Middleby Co. (NASDAQ: MIDD) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Middleby's Q3 Earnings and Sales Miss Estimates, Decline Y/Y [Yahoo! Finance]Yahoo! Finance
- The Middleby Co. (NASDAQ: MIDD) had its price target lowered by analysts at Canaccord Genuity Group Inc. from $164.00 to $155.00. They now have a "buy" rating on the stock.MarketBeat
- Middleby Acquires JC Ford, Leader in Chip and Tortilla Production SystemsBusiness Wire
MIDD
Earnings
- 10/31/24 - Miss
MIDD
Sec Filings
- 11/14/24 - Form SC
- 11/8/24 - Form 4
- 11/7/24 - Form 10-Q
- MIDD's page on the SEC website