Middleby Less Confident in Inventory Levels, Konnected Joe Selling Well

Middleby was one of the many outdoor brands that reported earnings this week, giving us an updated glimpse of their business. They have a large portfolio of commercial and non-outdoor residential brands, so Kamado Joe, EVO, Char-Griller, and Masterbuilt only make-up a part of Middleby’s overall company.

Inventory Levels

While Traeger was confident that inventory levels had reached a bottom, Middleby was much less confident. A large chunk of the earnings call was just focused on grill inventory levels because of the differing message.