Operator

Good day, and welcome to the Middleby Corporation's First Quarter 2026 Earnings Conference Call. [Operator Instructions] On today's call are Tim FitzGerald, CEO; Mark Salman, President of Middleby Food Processing Group; Brittany Cerwin, CFO; James Pool, Chief Technology and Operations Officer; and Steve Spittle, Chief Commercial Officer. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Tim FitzGerald. Please go ahead.

Timothy FitzGerald
CEO & Director

Good morning, and thank you for joining today's call. I'm excited for the next few months and what it holds for Middleby.

That starts today with sharing the excellent results achieved across both segments of the business and raising our guidance for the year. It continues next Tuesday during our Investor Day in New York as we lay out our visions for the exciting future of both segments, and it culminates with the separation of the segments into two pure-play stand-alone public companies.

But the separation of the business is not the end. In fact, it's only the beginning of a new and exciting chapter for both companies. Following this transaction, Middleby will operate as a focused commercial foodservice leader with a scaled portfolio of best-in-class brands, accelerating innovation and industry-leading 26% segment level EBITDA margins. while Food Processing becomes an independent growth