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Midera Food Processing (Nasdaq: MFP) reported fiscal Q2 2026 net sales of $245.4 million, up 13.2% year-over-year, including 1.2% organic growth. Net earnings were $10.8 million versus $29.1 million a year earlier. Adjusted EBITDA was $42.3 million, with Estimated Standalone Adjusted EBITDA of $41.8 million, up 10.6% and above prior guidance.
The quarter, reported on a carve‑out basis, follows completion of the spin-off from Middleby on July 6, 2026. Orders rose 16% to $275 million and backlog reached a record $446 million. Net debt was $208.1 million, implying a net leverage ratio of 1.3x, with total liquidity of $822.5 million.
Midera raised its 2026 guidance to net sales of $935–$965 million (about 11% growth) and Estimated Standalone Adjusted EBITDA of $160–$176 million (about 20% growth). The board also authorized a share repurchase program of up to $50 million through August 10, 2029, primarily to offset dilution from equity awards.
Midera Food Processing (NASDAQ: MFP) plans to release its fiscal second quarter 2026 earnings results on Thursday, August 13, 2026, after the market close. Management will host a conference call the same day at 4:00 PM CT (5:00 PM ET), with a live webcast and replay available via the company’s investor relations website at investors.midera.com.
Midera Food Processing (NASD:MFP) and Centrus Energy (NYSE:LEU) are set to join the S&P SmallCap 600. MFP will replace Redwood Trust on July 8, 2026, following its spin-off from Middleby. Centrus Energy will replace Whitestone REIT on July 14, 2026, linked to Whitestone’s acquisition by Ares Management.