Wall Street expects a year-over-year decline in earnings on lower revenues when John Bean (JBT) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | | FORM 10-K | | --- | --- | | (Mark One) | | | ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the fiscal year ended December 31, 2023 | | | OR | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | Commission file number: 1-34036 | | | John Bean Technologies Corporation | | | (Exact name of registrant as specified in its charter) | | De ...

John Bean Technologies Corporation (NYSE:JBT) Q4 2023 Earnings Conference Call February 21, 2024 10:00 AM ET Company Participants Kedric Meredith - VP of Corporate Development and IR Brian Deck - CEO Matt Meister - CFO Conference Call Participants Lawrence De Maria - William Blair Walter Liptak - Seaport Research Mig Dobre - R.W. Baird Operator Good morning, everyone, and welcome to JBT Corporation's Fourth Quarter and Full Year 2023 Earnings Conference Call. My name is Audra, and I will be your conference ...

2 Forward-Looking and Non-GAAP Statements These slides and the accompanying presentation (collectively, the "presentation") contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond JBT's ability to control. These forward-looking statements include, among others, statements relating to our business and our results of operations, a poten ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | ☒ | Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | --- | --- | | | For the quarterly period ended September 30, 2023 or | | ☐ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | | For the transition period from ______ to ______ | Commission File Number 1-34036 John Bean Technologies Corporation (Exact name of registrant as specified in it ...

John Bean Technologies Corporation (NYSE:JBT) Q3 2023 Earnings Conference Call October 25, 2023 10:00 AM ET Company Participants Kedric Meredith - Vice President of Corporate Development and Investor Relations Brian Deck - Chief Executive Officer Matt Meister - Chief Financial Officer Conference Call Participants Mig Dobre - RW Baird Walter Liptak - Seaport Research Operator Good morning, everyone, and welcome to JBT Corporation's Third Quarter 2023 Earnings Conference Call. My name is Bo, and I will be you ...

2 10 Q3 2023 (1) As of Q3 2023, this balance includes Cash of $401.7 million and Marketable securities of $125.0 million. Recurring vs. Non-recurring Revenue Recurring(1) $ 202.7 $ 639.1 (1) Aftermarket parts and services and revenue from lease and long-term service contracts are considered recurring revenue. Non-recurring revenue includes new equipment and installation. (2) M&A related costs are estimated to be $0 to $1 million and approximately $4 million for the fourth quarter and full year 2023, respect ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | ☒ | Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | --- | --- | | | For the quarterly period ended June 30, 2023 | | | or | | ☐ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | | | For the transition period from ______ to ______ Commission File Number 1-34036 | John Bean Technologies Corporation (Exact name of registrant as specified in i ...

Financial Data and Key Metrics - Revenue from continuing operations increased 8 6% YoY in Q2 2023, at the high-end of previous guidance for the FoodTech business [4] - Adjusted EBITDA margins from FoodTech operations reached 19 7%, exceeding previous guidance of 18% to 18 75% [5] - Free cash flow from continuing operations was $34 million in Q2, with a conversion rate of 120% [6] - Full-year 2023 restructuring charges are now expected to be $11 million to $13 million, up from previous guidance of $4 million [7] - Adjusted EPS for 2023 is forecasted at $3 80 to $4 05, an increase from the previous implied guidance of $3 25 to $3 65 [8] Business Line Data and Key Metrics - The company achieved an attractive valuation for AeroTech, positioning it with a strong balance sheet to support strategic M&A [3] - The sale of AeroTech resulted in net cash proceeds of approximately $650 million, which will be used to pay down $300 million of higher-cost variable rate debt [26] - The company expects to generate annualized run-rate savings of $18 million to $20 million by mid-2024 from its restructuring program [7] Market Data and Key Metrics - Demand for meat and poultry end markets remains under pressure, but significant orders were booked from the pharmaceutical and nutraceutical industries [29] - The company sees opportunities to expand its presence in end markets such as snack foods, bakery, confectionery, and sustainable food and beverage alternatives [31] - The digital solution, OmniBlu, continues to gain traction, with additional customer contracts and improved system yield and uptime [13] Company Strategy and Industry Competition - The company's priority is to optimize opportunities and manage a smooth transition to a pure-play food and beverage technology company [10] - The company plans to deploy capital to acquire businesses that complement existing operations and expand end markets [10] - The company will focus on customers' needs for automation, sustainability, and efficiency in potential acquisition candidates [11] Management Commentary on Operating Environment and Future Outlook - The company expects a slight sequential decline in revenue and adjusted EBITDA in Q3 due to seasonal declines and softer backlog in meat and poultry markets [8] - The company is confident that being part of Oshkosh provides the best means to capitalize on AeroTech's market leadership and strong demand environment [14] - The company maintains a highly disciplined M&A process with firm criteria for strategic fit and financial hurdle rates [30] Other Important Information - The company's net debt to adjusted EBITDA ratio from continuing operations would have been below 1x as of June 30, on a pro forma basis considering the AeroTech sale [89] - The company is increasing the scope of its restructuring program to streamline its cost structure and transition to a pure-play food and beverage technology company [89] Q&A Session Summary Question: How does the mix in orders and backlog impact revenue recognition and margins? - The backlog is diverse and supportive of growth, with strength in nutraceutical and pharma markets, but tepid demand in poultry and pork due to higher costs and lower capital availability [17] Question: What drove the strong incremental margins in Q2? - Margins benefited from higher recurring revenue, proactive cost management, and pricing actions implemented in the previous year [37][60] Question: What is the outlook for poultry market demand? - Q2 was likely the bottom for poultry market economics, with some signs of improvement expected in Q4, but investment remains cautious until profitability improves [58] Question: What is the normalized incremental EBITDA margin outlook? - Incremental margins for food operations are expected to be in the high 20% to low 30% range, with consolidated margins likely in the mid to high 20s, including corporate costs [62][63] Question: How is the OmniBlu digital solution performing? - OmniBlu is gaining traction, with customer contracts increasing and providing meaningful efficiency gains, such as an 8% to 10% increase in capacity opportunity in a freezer installation case study [46][69] Question: What is the M&A strategy and focus? - The company is focusing on bolt-on technologies and solutions that complement existing offerings, with a disciplined approach to strategic fit and financial hurdle rates [30][31]

| --- | --- | |-------|-------| | | | | | | These slides and the accompanying presentation contain "forward-looking" statements, including statements about management's expectations regarding trends in the food and air transportation markets, strategic initiatives, including Elevate 2.0, acquisition strategies, long-term goals, and financial framework and guidance, which represent management's best judgment as of the date hereof, based on currently available information. Actual results may differ materially ...