Foodservice Equipment Reports

Public E&S Companies Growth Slowed In Fourth Quarter, Rose 5.5% For All 2014

Pulled down by a very weak quarter from Manitowoc Foodservice, eight publicly reporting equipment and supplies companies saw combined revenue growth slow to 2.9% in the fourth quarter of 2014 vs. the same quarter in 2013. It was the slowest quarter since the third quarter 2012 and follows four consecutive quarters during which growth exceeded 6.5%. The numbers are compiled for FER Fortnightly by John Muldowney, Principal at Clarity Marketing.

The results are in line with those from the MAFSI Barometer, based on reports of sales by manufacturers’ reps. The Barometer also advanced 2.9% in the fourth quarter.

For all of 2014, the eight reporting companies’ combined revenues rose 5.5%, with a 6% gain for the equipment companies and the supplies-oriented companies up 2.3%.

The numbers do not include numbers for EveryWare Global, which has yet to report. The tally now includes sales of Unified Brands.

Total sales of the six reporting equipment companies rose 3.3% in the quarter; those for the supplies companies were up a combined 0.4%.

Five of the six equipment companies had positive gains in the quarter. The Middleby Corp. boosted sales 14.8% while Standex Foodservice saw sales rise 12.7%. ITW Food Equipment Group had an estimated 5.4% gain for foodservice products, Rational North America was up 2.5% and Unified Brands posted a 1.5% gain. But the overall equipment results were pulled down by a 6.3% decline in sales at Manitowoc Foodservice in the quarter. As the largest single company in the tally with annual sales approaching $1.6 billion, Manitowoc’s results had a significant impact on the totals.

Sales of four of the six equipment companies were positive for the year. Middleby grew annual sales 16.3%, Standex sales rose 6.5%, ITW FEG was up 5.5% and Manitowoc posted 2.5% growth. Unified Brands was flat for the year and sales at Rational North America fell 3.2%.

Libbey Foodservice sales rose 1.4% in the fourth quarter and were up 2.5% for all of 2014. Carlisle Foodservice was off 1.7% in the quarter, but posted a gain of 2.5% for the year.

Related Articles

Growth Of Public E&S Companies Slows In Fourth Quarter

Growth Slowed For Big U.S.-Based Public Equipment And Supplies Companies In Fourth Quarter 2014

Revenues For Public E&S Companies Rose 9.7% Fourth Quarter 2010, Up 4.2% For Year