Midera Food Processing, Inc. reported second quarter fiscal 2026 results as an independent public company following its July 6, 2026 separation from The Middleby Corporation. Net sales increased 13.2% year-over-year to $245 million, while net earnings declined to $11 million from $29 million in the prior year period. Estimated Standalone Adjusted EBITDA rose 10.6% to $42 million, exceeding previous guidance. The company raised its full-year 2026 guidance, targeting approximately 11% net sales growth and ~20% Estimated Standalone Adjusted EBITDA growth over the prior year period. Additionally, the Board authorized a $50 million share repurchase program expiring in August 2029 to mitigate dilution from equity awards.

Midera Food Processing, Inc. completed a spin-off from The Middleby Corporation on July 6, 2026, becoming an independent publicly traded company. Middleby distributed 100% of Midera's common stock to its shareholders, with recipients receiving one share of Midera for every one share of Middleby held as of June 26, 2026. To facilitate the transition, the companies entered into several agreements covering separation, tax matters, employee matters, intellectual property, and transition services. The company also appointed a new Board of Directors and executive officers, including CEO Mark M. Salman and CFO Amy A. Campbell. Midera Food Processing, Inc. operates in the food processing industry.