JBT John Bean Technologies Corp Stock Price & News

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JBT Corporation was incorporated in 2008 when FMC Technologies divested its non-energy businesses. Its AeroTech division manufactures and services the Jetway brand of airport passenger loading bridges and other Ground Support Equipment such as Cargo Loaders, Deicers and pushback tractors. The company traces its history back to a company founded in 1884 by John Bean, an orchardist in Los Gatos, California.

John Bean (JBT) Q2 Earnings and Revenues Lag Estimates

Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. JBT Corporation, or John Bean Technologies Corporation, is a global food processing machinery and airport equipment company.

Yeah, well, I’ll take the cost side first and then maybe Brian can talk about the, the revenue piece here. But from a investment perspective, last year we invested, close to $40 million from a CapEx perspective in in OmniBlu. It’s probably closer to $12 million to $14 million in 2023.

Quarter, FoodTech revenue and margins exceeded our guidance, largely on the strength of recurring revenue. At AeroTech, we’re no longer on a path to recovery where we are there, with exceptional demand and record orders in the quarter. Overall, we outperformed our expectations in what is typically JBT’s seasonally slowest quarter of the year. As we have said before, FoodTech continues to be driven by a resilient business model, a diverse product offering, and value-added acquisitions. The corporate headlines for early Tuesday show companies active on a number of fronts of interest to investors. Zebra Technologies’ revenues are expected to be $1.39 billion, down 2.8% from the year-ago quarter.

John Bean Technologies Corporation Appoints Matthew (Matt) J. Meister to Serve as Chief Financial Officer

It was stronger in the https://1investing.in/, sorry, in the first quarter, versus the third quarter last year, but not quite as strong as the fourth quarter. And that’s immediately driven by poultry and even the pork industry. At AeroTech, first quarter revenues increased 25% and adjusted EBITDA margins of 10.1% improved 300 basis points from the prior year period. AeroTech’s year-over-year margin expansion resulted from volume-driven leverage on fixed costs and the realization of pricing actions.

• JBT AeroTech also supplies the United States military with equipment for cargo loading, aircraft towing, and aircraft cooling.
• We raise our fair value estimate by $1 to $121 but only due to time value of money.
• It’s a little early, but we did have an improved quarter on poultry investments.
• This year I signed the CEO Action for Diversity and Inclusion pledge, reflecting our ongoing commitment to diversity, inclusion, equity and belonging.

A valuation method that multiplies the price of a company’s stock by the total number of outstanding shares. Over the last four quarters, the company has surpassed consensus EPS estimates three times. John Bean came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.87 per share a year ago. The price-to-book ratio is a company’s current market price to its Book Value. Traditionally, any value under 1.0 is considered a good P/B value, indicating a potentially undervalued stock.

The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. In terms of learnings, I would say what we realized is, selling software is different than selling equipment, right?

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The company produced FMC Link-Belt branded cranes and excavators. In 1986, the Link-Belt Construction Equipment Company was formed as a joint venture between FMC Corporation and Sumitomo Heavy Industries. In 1946, FMC bought out Bolens Lawn And Garden Equipment.

John Bean Technologies Dividend Calendar

Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. There may be delays, omissions, or inaccuracies in the Information. Zacks Earnings ESP looks to find companies that have recently seen positive earnings estimate revision activity.

Net money flow is the value of uptick trades minus the value of downtick trades. Our calculations are based on comprehensive, delayed quotes. According to one analyst, the rating for JBT stock is “Buy” and the 12-month stock price forecast is $120.0. OmniBlu further supports customer profitability and resource utilization through next level data intelligence that improves equipment efficiency and uptime. These sustainable solutions make JBT more competitive and critical to the food industry.

John Bean Technologies has a dividend yield of 0.39%, which is in the bottom 25% of all stocks that pay dividends. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Other market data may be delayed by 15 minutes or more. John Bean’s latest buyout strengthens its product offering in further processing, mainly expanding convenience meal lines and alternative and plant-based protein technology.

JBT has a forward dividend yield of 0.37%.SeeJBT’s full dividends and stock split historyon the Dividend tab. Morningstar analysts hand-select direct competitors or comparable companies to provide context on the strength and durability of JBT’s competitive advantage. But while increased infrastructure spending will create opportunity, the market has already priced in most of these companies’ potential. John Bean Technologies is likely to benefit from solid backlog levels, a strategic acquisition program and innovative products. High costs and supply-chain disruption remain headwinds.

John Bean Technologies updated its second quarter 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share guidance of $1.10-$1.25 for the period, compared to the consensus EPS estimate of $1.24. The company issued revenue guidance of $569.41 million-$591.11 million, compared to the consensus revenue estimate of $589.20 million.

Obviously we hope that continues, but historically the data would suggest that it goes back to normalized levels. So from a demand perspective, I would say it’s still mixed across the globe. We’re seeing regional strengths and weaknesses right now, as I mentioned, Europe is a little bit stronger.

Adjusted earnings per share was $0.94 compared with $0.88 in the first quarter last year. A strong operating performance was partially offset by higher depreciation and amortization, higher interest expense, and a lower discrete tax benefit. Market cap or market capitalization is the total market value of all of a company’s outstanding shares. Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price. At AeroTech, we are projecting revenue growth of 4% to 7% in adjusted EBITDA margins of 10% and three quarters to 11% and three quarters percent.

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• But that said, we are really cognizant and aware of the broader economic environment and how that might impact how we go forward from here.
• John Bean Technologies updated its second quarter 2023 earnings guidance on Thursday, April, 27th.
• In the movie FMC was fictionalized as A.O.C corporation.
• And certainly that is accelerated even more on the AeroTech side, as we’ve been able to implement new pricing on that business here at the end of Q4 and the first part of Q1.

FoodTech adjusted EBITDA margins of 18.1% improved 180 basis points over the prior year, driven by the favorable mix of recurring revenue and continued improvement in price cost. JBT AeroTech sells products and services to airport authorities, airlines, airfreight and ground handling companies. Products include ground support equipment and gate equipment. Services include maintenance of airport equipment, systems and facilities. JBT AeroTech also supplies the United States military with equipment for cargo loading, aircraft towing, and aircraft cooling. This producer of printers for bar codes, plastic cards and, radio-frequency identification tags is expected to post quarterly earnings of $3.92 per share in its upcoming report, which represents a year-over-year change of -2.2%.

For the full year, our guidance is essentially unhow do i transfer my sharesd with consolidated revenue growth of 7% to 10% and adjusted EBITDA growth of 23% or 170 basis points at the midpoint. We still expect free cash flow conversion to be above a 100% of net income for the full year. Intraday Data provided by FACTSET and subject to terms of use.

You are not really carrying the Q1 beat to the full year outlook. So maybe a little bit of commentary as to what is unique in a quarter that perhaps doesn’t repeat on a go forward basis and really any other puts and takes to, to the outlook, relative to what you previously expected. I guess we’re I would like to start is with a little more color maybe on what you’re seeing in terms of FoodTech demand trends. I’m curious the protein business, how you see that progressing through the year, and I’m also curious from a pricing standpoint, how things are changing and where you sort of think you are on a price cost balance at this point. In the meantime, with a recovery in the commercial air demand, growth and defense applications and continued robust airport infrastructure spending, AeroTech’s backlog reached an all-time high and we are quoting well into 2024. Moving on to AeroTech, orders expanded 51% year-over-year to a record, $232 million, $50 million above any prior period, with improved price recovery and robust demand across the infrastructure and commercial airline and markets.