Subject to a proration feature, Marel shareholders will have a choice in how they receive payment for their shares. In exchange for each Marel share, they can opt for either all cash (€3.60 per share) or 0.0407 JBT shares. They can also opt for a mix of both (€1.26 in cash and 0.0265 JBT shares). The offer will commence from Jun 24, 2024, and expire on Sep 2, 2024. John Bean Technologies Corporation (JBT) announced that Iceland's financial regulator has approved the offer document and prospectus related to ...

Summary of JBT and Marell Conference Call Industry and Company Overview - The conference call discusses the merger between JBT Corporation (JBT) and Marell (MREL), focusing on the food and beverage processing industry [3][6][35] - JBT aims to enhance its position in the global food supply chain by combining with Marell, which specializes in poultry, meat, seafood, and pet food processing technologies [8][12] Core Points and Arguments - **Transaction Details**: JBT plans to acquire all outstanding shares of Marell, with a voluntary takeover offer expected to launch soon. The transaction is anticipated to close by the end of 2024 [3][14][15] - **Strategic Rationale**: The merger is expected to create a leading global food and beverage solutions company, leveraging complementary technologies and services to enhance customer operations and drive shareholder value [6][11][12] - **Market Growth**: The combined company is projected to grow revenue from approximately $3.5 billion in 2023 to about $4 billion by 2025, with nearly half of this revenue coming from recurring streams such as spare parts and services [27][32] - **Cost Synergies**: Expected annual run rate cost savings of approximately $70 million in the first year, growing to over $125 million by year three, primarily from operational efficiencies and reduced redundancies [29][70] - **Revenue Synergies**: Anticipated revenue uplift of over $75 million by the end of the third year post-close, driven by integrated solutions and cross-selling opportunities [30] Additional Important Insights - **Cultural Integration**: Emphasis on aligning the cultures of both companies to ensure a successful integration process, recognizing the importance of Marell's heritage [16][34] - **Customer Focus**: The combined entity aims to enhance customer relationships through improved service capabilities and integrated technology solutions, addressing operational efficiency and automation needs [22][74] - **Sustainability and Innovation**: Both companies are committed to sustainability, aiming to reduce food and packaging waste while improving resource efficiency [26][35] - **Regulatory Review**: The regulatory process is expected to be straightforward due to minimal overlaps in business operations, with confidence in receiving necessary approvals [41][42] Financial Metrics - JBT's revenue for the last four quarters ending March 31 was approximately $1.7 billion with an adjusted EBITDA margin of 16.6% [17] - Marell's revenue for the same period was about $1.8 billion with an adjusted EBITDA margin of 12.4% [18] - The combined company aims for an adjusted EBITDA margin of about 16% by 2025, factoring in synergies and market recovery [27][44] Conclusion - The merger between JBT and Marell is positioned as a strategic move to create a robust player in the food and beverage processing industry, with significant growth potential, operational efficiencies, and a strong commitment to customer service and sustainability [35][80]

John Bean Technologies Corporation (JBT) shares have lost 8.8% in a year against the industry's growth of 25.2%. This mainly reflects the impacts of material inflation, and supply-chain and logistic disruptions that the company has been facing for the past few quarters. Image Source: Zacks Investment Research High Costs Act as Woes John Bean has been witnessing material inflation, supply-chain and logistics disruptions, and higher labor costs. The shortages of critical raw materials (particularly electronic ...

John Bean Technologies Corporation (JBT) reported first-quarter 2024 adjusted earnings from continuing operations of 85 cents per share, up 39% from the year-ago quarter, reflecting cost savings from its supply-chain initiatives and restructuring program. The figure beat the Zacks Consensus Estimate of earnings of 82 cents per share.On a reported basis, the company’s earnings per share (from continuing operations) were 71 cents, a 34% improvement from the year-ago quarter’s 53 cents.Revenues of $392 million ...

▪ North American poultry market fundamentals have continued to improve, leading to better cash flow and profitability as well as a more positive sentiment for investment among JBT customers; JBT's pipeline activity is improving, which is expected to translate to increased orders during Q2 2024 ▪ Q1 2024 recurring revenue was 52% versus 56% in the prior year Note: Figures may have immaterial differences due to rounding. 2 5 Strong Balance Sheet to Support JBT Initiatives 3.0x 2.8x 0.5x 0.6x 0.6x 0.0x $0 $500 ...

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 March 31, 2024 | | | 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 ...

John Bean (JBT) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.66%. A quarter ago, it was expected that this food processing and transportation services company would post earnings of $1.39 per share when it actually produced earnings of $1.40, delivering a surprise of 0.72%.Over t ...

Exhibit 99.1 News Release JBT Corporation 70 W. Madison Suite 4400 Chicago, IL 60602 JBT Corporation Reports First Quarter 2024 Results and Reiterates Full Year 2024 Adjusted EBITDA and Adjusted EPS Guidance First Quarter Highlights: (Results are from continuing operations with comparisons to the prior year period) AeroTech's financial results were transitioned to discontinued operations beginning in the second quarter of 2023, and prior period financial results have been recast accordingly. The below parag ...

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 ...