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, 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 ...

| --- | --- | |-------|------------------------------------------| | | | | | | | | First Quarter 2023 Earnings Presentation | Forward-Looking and Non-GAAP Statements 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 manage ...

John Bean Technologies Corporation (NYSE:JBT) Q1 2023 Earnings Conference Call April 26, 2023 10:00 AM ET Company Participants Kedric Meredith - Vice President of Corporate Development and IR Brian Deck - CEO Matt Meister - CFO Conference Call Participants Mircea Dobre - Robert W. Baird & Co. John Joyner - BMO Capital Markets Lawrence De Maria - William Blair Walt Liptak - Seaport Research Operator Good morning, and welcome to JBT Corporation's First Quarter 2023 Earnings Conference Call. My name is Audra, ...

Revenue and Financial Performance - Total revenue for 2022 increased by $297.7 million, or 15.9%, compared to 2021, with organic revenue growth of $282.0 million[171]. - The gross profit for 2022 was $617.3 million, representing a gross profit margin of 28.5%, down 180 basis points from 30.3% in 2021[171]. - Operating income for 2022 was $168.4 million, with an operating income margin of 7.8%, a decrease of 80 basis points from 8.6% in 2021[171]. - Net income for 2022 was $130.7 million, reflecting a 10.4% increase compared to $118.4 million in 2021[171]. - Total revenue for 2022 was $2,166.0 million, a 15.9% increase from $1,868.3 million in 2021, driven by growth in both FoodTech and AeroTech segments[179]. - FoodTech revenue increased by $190.2 million or 13.6% in 2022, with organic revenue growth of $171.8 million and acquisition-related revenue growth of $93.5 million[180]. - AeroTech revenue rose by $108.2 million or 23.1% in 2022, attributed to higher sales in mobile equipment, fixed equipment, and service businesses[182]. - FoodTech operating profit increased by $24.5 million or 13.1%, while AeroTech's operating profit grew by $10.9 million or 33.4%[181][183]. - Total order backlog increased to $1,054.9 million as of December 31, 2022, up from $1,006.7 million in 2021, with expectations to convert 84% into revenue in 2023[187][188]. Recurring Revenue and Digital Solutions - Recurring revenue accounted for 47% of FoodTech total revenue and 38% of AeroTech total revenue in 2022[31]. - The company launched a new digital solution called OmniBlu™ in 2022, which is a subscription-based offering leveraging AI and predictive analytics[25]. - The company is investing in the OmniBlu™ digital solution to enhance customer access to parts and services, aiming to increase recurring revenue[164]. - Significant investments in the digital solution OmniBlu™ are expected, but development timelines may not align with market demands, risking competitive positioning[119]. Operational and Market Risks - The company faces business and operational risks that could lead to fluctuations in financial results, including volatility in demand and supply chain disruptions[61][62][63]. - Labor shortages and increased turnover rates have adversely affected the company's operations, leading to decreased efficiency and increased costs[74]. - Economic conditions, including lower growth rates and high unemployment, could negatively impact demand for the company's products and increase raw material costs[75]. - Variability in sales cycles makes revenue estimation difficult, resulting in significant fluctuations in quarterly operating results[77]. - Supply chain disruptions have led to longer lead times and increased raw material costs, which may materially affect the company's financial condition[79]. - High energy prices, particularly in Europe, are reducing customer profitability and could negatively impact the company's business and cash flows[80]. - Changes in food consumption patterns due to dietary trends may adversely affect demand for the company's products, impacting financial results[83]. - Natural disasters and adverse weather conditions could limit the availability of raw materials, negatively affecting the company's operations and financial condition[87]. - Cybersecurity risks pose threats to sensitive information and operational integrity, potentially leading to financial losses and regulatory costs[73]. Corporate Governance and Compliance - The company emphasizes a commitment to safety with a goal of "Zero Incidents, Worldwide, Every Day"[40]. - Compliance with U.S. government contract regulations is critical, as any non-compliance could result in significant sanctions and adversely impact operations[91]. - The company is subject to various U.S. and international laws, which may lead to uncertainties regarding compliance and potential liabilities[106]. - The company faces evolving expectations regarding environmental, social, and governance (ESG) issues, which could affect market valuation and customer retention[103]. Strategic Initiatives and Growth - The company is pursuing strategic acquisitions to achieve growth, which may involve additional debt and integration risks[111]. - Acquisitions are a focus for the company, targeting complementary products and technology solutions to enhance customer offerings[164]. - The company has taken steps to mitigate increased raw material costs through supply chain and strategic sourcing initiatives[36]. Financial Position and Capital Management - As of December 31, 2022, the company had total operating cash flow of $142.3 million and liquidity of $526.3 million[193][194]. - Cash provided by operating activities decreased by $83.4 million to $142.3 million in 2022 compared to 2021, primarily due to higher inventory investment and increased trade receivables[202]. - Cash required by investing activities increased by $143.2 million to $416.1 million in 2022, driven by higher acquisition and capital expenditure spending[203]. - Cash provided by financing activities rose by $189.8 million to $270.6 million in 2022, mainly due to increased borrowings for acquisitions[204]. - As of December 31, 2022, total contractual and other obligations amounted to $1,330.2 million, with long-term debt at $977.3 million and interest payments on long-term debt at $107.7 million[197]. - Approximately 34% of total outstanding debt of $987.1 million remained subject to floating interest rates, which could negatively impact earnings if rates increase[210]. Management and Workforce - The company has approximately 7,200 employees worldwide, with 56% located in the United States[39]. - Key personnel retention is critical for business growth, with potential impacts from the loss of senior management on strategic planning[63][65]. - The company actively invests in diversity, equity, inclusion, and belonging initiatives to foster innovation and a supportive work environment[41]. - JBT Corporation's executive team includes Brian A. Deck as President and CEO, Matthew J. Meister as CFO, and other key officers with extensive industry experience[50][51][52][53][54][55][56][57][58][59].

John Bean Technologies Corporation (NYSE:JBT) Q4 2022 Earnings Conference Call February 21, 2023 11:00 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 Walt Liptak - Seaport Research Lawrence De Maria - William Blair Operator Good morning, and welcome to JBT Corporation's Fourth Quarter and Full-Year 2022 Earnings Conference Call. My name is Chri ...

2 10 Reconciliation of Operating Profit to Adjusted EBITDA Consolidated | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|---------|-------|-------|---------|-------|---------|-------|---------------------|-------|---------| | (In millions) \nNet income $ 37.5 $ 34.2 $ 33.4 $ 25.6 $ 31.6 | | Q4 2022 | | | Q3 2022 | | Q2 2022 | | Q1 2022 | | Q4 2021 | | Income tax provision 6.3 8.0 6.3 2.9 1.9 | | | | | | ...

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, 2022 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 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Kedric Meredith - VP, Corporate Development and IR Brian Deck - CEO Matt Meister - CFO Conference Call Participants Mircea Dobre - Baird Lawrence De Maria - William Blair Operator Good morning, and welcome to the JBT Corporation's Third Quarter 2022 Earnings Conference Call. My name is Colby, and I'll be your conference operator today. As a reminder, today's call is being recorded ...

John Bean Technologies Corporation (NYSE:JBT) Q2 2022 Earnings Conference Call July 28, 2022 10:00 AM ET Company Participants Kedric Meredith - Vice President, Corporate Development and Investor Relations Brian Deck - President and Chief Executive Officer Matt Meister - Executive Vice President and Chief Financial Officer Conference Call Participants Lawrence Maria - William Blair Walter Liptak - Seaport Global Securities LLC Mircea Dobre - Robert W. Baird & Co., Inc. Operator Good morning, and welcome to ...

| --- | --- | |-------|-------| | | | | | | | | | 2 Forward-Looking and Non-GAAP Statements 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 i ...