Financial Data and Key Metrics Changes - JBT reported total revenue of $935 million for the second quarter, exceeding the midpoint of guidance by approximately $35 million, driven by higher recurring revenue and favorable foreign exchange [11][12] - Adjusted EBITDA margin for the second quarter was 16.7%, outperforming guidance by about 180 basis points, primarily due to a favorable mix of higher recurring revenue and productivity improvements [12][14] - Adjusted EPS for the second quarter was $1.49, with GAAP EPS at $0.07, reflecting an impairment charge of $11 million on a joint venture investment [13][14] - The company ended the quarter with a backlog of $1.4 billion, providing significant support for revenue conversion in the latter half of the year [8][15] Business Line Data and Key Metrics Changes - JBT segment revenue increased by 13% year-over-year, with adjusted EBITDA of $82 million and an adjusted EBITDA margin improvement of 220 basis points to 18% [13][14] - Morell segment revenue was $480 million, with adjusted EBITDA of $75 million, representing a margin of 15.5%, attributed to integration synergies and favorable revenue mix [14] - The poultry industry, as the largest end market, continued to see strong equipment investment, with a positive pipeline expected to support growth into next year [6][8] Market Data and Key Metrics Changes - EMEA was the strongest region for demand, while North America experienced relative softness [7] - Latin America showed strong performance, and Asia Pacific remained choppy [8] - The company noted healthy order bookings despite a dynamic macroeconomic backdrop, with total orders amounting to $938 million, including $22 million from favorable foreign exchange translation [6][8] Company Strategy and Development Direction - The integration of JBT and Morell is on track, with a focus on capitalizing on the expanded portfolio and cross-selling opportunities [9][20] - The company aims to transition from unit sales to system sales, enhancing customer partnerships and service delivery [20][21] - Continuous improvement initiatives are being advanced to optimize operational efficiency and capacity utilization across manufacturing facilities [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand environment, particularly in poultry, with visibility extending into the first half of 2026 [30][31] - The company is taking steps to mitigate tariff impacts on direct material costs through supplier negotiations and sourcing adjustments [9][12] - Full-year 2025 guidance has been reestablished, with expected revenue of $3.7 billion at the midpoint, including a favorable foreign exchange translation benefit [15][16] Other Important Information - The company incurred approximately $9 million in gross tariff costs during the second quarter, with net impacts offset by inventory benefits and mitigating actions [12] - Free cash flow for the first half of 2025 was $106 million, with $88 million generated in the second quarter, supporting balance sheet deleveraging [14][15] Q&A Session Summary Question: Insights on poultry investments and customer conversations - Management noted good visibility into the first half of 2026, with poultry companies making significant investments in automation and efficiency [30][31] Question: Margin performance at Morell - Margin improvements were attributed to integration synergies, restructuring efforts, and a favorable mix of recurring revenue [41][44] Question: Expectations for Q4 margins and tariff impacts - Management expects Q4 to be the strongest quarter from a margin perspective, despite headwinds from tariffs and a shift in revenue mix [50][51] Question: Impact of tariffs on order delays - Some episodic delays were noted, particularly for customers importing food into the U.S., but overall demand remains strong [64][82] Question: FX impact on revenue and margins - FX is expected to contribute approximately $70 million to $85 million for the year, with a typical margin impact in line with company averages [106][105]

2025年5月8日，上海——全球高压技术领域的领军企业Quintus Technologies（以下简称"Quintus"） 携其最新研发的QIF 600L超高压加工系统亮相FBIF食品创新展。展会期间，Quintus通过设备展示、技 术讲解及产品体验，向行业展示了HPP（超高压加工）技术如何以非热加工方式实现食品安全与营养保 留的双重目标。 HPP技术揭秘：600MPa高压优势所在 原理：用压力"压碎"微生物，而非高温 HPP技术的核心秘密藏在600MPa超高静水压力中。这一压力能直接作用于包装后的食品，通过破 坏微生物的细胞膜和酶系统等，高效灭活沙门氏菌、李斯特菌等病原体。整个过程无需加热或化学添加 剂，彻底避免了传统工艺对营养和风味的破坏。 关键数据： • 灭菌率 >99.999%（5-log），完全满足美国FDA的Juice HACCP法规要求。 • 冷榨果汁保质期从30天延长至120天，维生素C保留率超90%。 三大行业痛点，HPP如何破解 • 安全与营养的"二选一"困局：传统热处理损失30%以上营养，冷榨工艺易滋生微生物。HPP技术 实现"鱼与熊掌兼得"。 • 防腐剂依赖症：即食肉制品无需亚硝酸盐 ...