Midera Food Processing (MFP) Q2 2026 earnings summary

Executive summary

• Completed spin-off from Middleby on July 6, 2026, launching as an independent public company trading on Nasdaq under MFP.

• Exceeded Q2 2026 guidance for net sales and Estimated Standalone Adjusted EBITDA, driven by strong order growth and record backlog.

• Integrated recent acquisitions, contributing positively to results and inorganic growth.

• Focused growth strategy on total line solutions, market penetration, aftermarket, and acquisitions.

• Recurring aftermarket parts and service represent about 38–40% of Q2 2026 revenue.

Financial highlights

• Q2 2026 net sales were $245.4M, up 13.2% year-over-year; organic growth was 1–1.2%.

• Estimated Standalone Adjusted EBITDA for Q2 2026 was $41.8–$42.3M, up 11% year-over-year; margin was 17–17.2%.

• Year-to-date net sales were $470–$470.4M, up 22% year-over-year; YTD Estimated Standalone Adjusted EBITDA was $75–$76.5M, up 26%.

• Orders in Q2 2026 were $275M, up 16% year-over-year; backlog reached a record $446M, up 51%.

• Net earnings for Q2 2026 were $10.8M (4.4% margin), down from $29.1M (13.4%) in Q2 2025.

Outlook and guidance

• Raised full-year 2026 guidance: net sales expected at $935–965M, EBITDA at $160–176M, with organic growth projected at ~6%.

• Margin expansion expected in FY 2026, reversing prior year compression; sequential margin improvement anticipated in Q3 and Q4.

• Q3 typically softer due to European seasonality; Q4 expected to be strongest.

• Depreciation and amortization expected at $26–28M; interest expense at $7–8M.