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John Bean Technologies Corporation (JBT) is a recognized leader in the food processing solutions sector. With a primary focus on creating integrated systems, JBT enhances the value and quality of food products through innovative technology. The company’s offerings span from single machines to comprehensive processing lines, catering to both multinational and regional industrial food processing companies.
JBT's FoodTech solutions encompass a wide range of applications, including:
- Freezer Solutions: Advanced freezing and chilling systems for a variety of products such as meat, seafood, poultry, ready-to-eat meals, fruits, vegetables, dairy, and bakery items.
- Protein Processing Solutions: Equipment for portioning, coating, frying, and cooking poultry, meat, seafood, vegetable, and bakery products, ensuring optimal quality and taste.
- In-Container Processing Solutions: Systems for filling, closing, and sterilizing fruits, vegetables, soups, sauces, dairy, and pet food products, as well as ready-to-eat meals in modern packaging formats.
- Fruit and Juice Processing Solutions: Technology for extracting, concentrating, and aseptically processing citrus, tomato, and other fruits, vegetables, and juices.
- Automatic Guided Vehicles (AGVs): Advanced automated systems for material handling and transportation within industrial environments.
JBT has been a pivotal player in the food and beverage industry, offering both customized and turnkey solutions that address the evolving needs of its clients. The company continues to innovate and expand its portfolio with recent projects and partnerships aimed at enhancing food safety, efficiency, and sustainability.
Financially, JBT has demonstrated robust performance with steady growth, driven by its commitment to research and development, customer service, and operational excellence. The company’s latest initiatives and technological advancements position it as a key contributor to the global food processing industry.
For the latest updates and news on JBT, including recent achievements and ongoing projects, visit our Latest News section below.
JBT Corporation (NYSE: JBT) announced the completion of its acquisition of Bevcorp for $290 million, enhancing its presence in the beverage processing market. This acquisition aims to leverage Bevcorp's strong revenue model, with over 60% recurring revenue, to create cross-selling opportunities. The anticipated tax benefits provide a net present value of approximately $35 million. Despite integration costs approximated at $9 million, Bevcorp is not expected to significantly impact JBT's adjusted earnings per share in 2022.
On August 18, 2022, JBT Corporation announced the appointment of Carlos Fernandez as Executive Vice President, Customer Sustainability and Market Development, effective October 1, 2022. Fernandez, previously President of Diversified Food and Health, will support customer sustainability goals and facilitate new product development. Concurrently, Augusto Rizzolo has been promoted to Executive Vice President and President of Diversified Food and Health, effective the same date. Rizzolo has led JBT's Protein North America business since July 2020.
On August 11, 2022, JBT Corporation declared a quarterly cash dividend of $0.10 per share on outstanding common stock. The dividend will be payable on September 6, 2022, to stockholders of record by August 22, 2022. JBT Corporation is a prominent global technology solutions provider in the food and beverage industry, focusing on high-value segments such as proteins and liquid foods. The company employs approximately 6,900 people and operates in over 25 countries.
JBT Corporation reported a 14% revenue increase in Q2 2022, reaching $542 million, with earnings per share at $1.04. The company announced its acquisition of Bevcorp for $290 million, enhancing its presence in the beverage packaging market. Total backlog rose 25% YoY to $1.1 billion. However, adjusted EBITDA fell 7% to $65 million, impacted by foreign exchange headwinds. Guidance for full-year revenue growth is revised to 15-17%, with EPS projected between $4.40 and $4.60. The acquisition is expected to close in Q3 2022, with a focus on achieving synergies.
JBT Corporation (NYSE: JBT) is set to release its second quarter 2022 financial results on July 27, 2022, after market close. A conference call is scheduled for 10:00 a.m. ET on July 28, 2022, where analysts and investors can discuss the results. Registration is required to participate in the call, and it will be available for listen-only mode via webcast. JBT Corporation, a leader in technological solutions for the food and beverage industry, operates globally with approximately 6,900 employees in over 25 countries.
JBT Corporation (NYSE: JBT) has acquired Alco-food-machines GmbH & Co. KG, enhancing its food processing solutions. This acquisition is expected to bolster JBT's product offerings in convenience meal lines and plant-based protein technology, particularly in the German market. Alco's projected 2022 revenue is approximately $35 million with EBITDA margins in the low double digits. Although the acquisition may slightly dilute 2022 GAAP earnings per share, it is projected to be accretive on an adjusted basis. The purchase price remains undisclosed.
JBT Corporation (NYSE: JBT) has declared a quarterly cash dividend of $0.10 per share, payable on June 9, 2022, to stockholders of record by May 26, 2022. This dividend announcement reflects the company’s ongoing commitment to return value to its shareholders. JBT operates in the food & beverage industry, focusing on protein and liquid food segments, and employs approximately 6,800 people worldwide across more than 25 countries.
JBT Corporation (NYSE: JBT) reported strong first quarter 2022 results, with orders reaching $566 million, a 16% year-over-year increase. Revenue was $469 million, and earnings per share (EPS) stood at $0.80. The record backlog grew 43% to $1.1 billion. While FoodTech saw a 14% revenue rise and AeroTech 7%, persistent supply chain and inflation challenges affected margins. The company projects a 15% - 17% revenue growth for Q2 2022 and plans strategic alternatives for AeroTech, emphasizing a digital transformation strategy.
JBT Corporation (NYSE: JBT) will announce its first quarter 2022 financial results after market closure on April 26, 2022. A conference call is set for 10:00 a.m. ET on April 27, 2022. Participants must register in advance to obtain dial-in information. The call will also be available via webcast, and a replay will be accessible shortly after the event. JBT Corporation specializes in technology solutions for the food & beverage and air transportation sectors, employing approximately 6,800 people globally.
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