Why Shares of Middleby Slumped This Week
Shares in commercial and residential kitchen-equipment company Middleby (NASDAQ: MIDD) fell by more than 15% this week as of midday Thursday. Two key talking points are reverberating around the industrial sector during the current earnings season, and Middleby is no different. Ongoing supply chain difficulties and surging raw material costs have hit profitability and lowered profit margin expectations.