John Bean Technologies Corporation - JBT STOCK NEWS

JBT Corporation (NYSE: JBT) declared a quarterly cash dividend of $0.10 per share on December 7, 2022. This dividend is scheduled for payment on January 2, 2023, to stockholders of record by December 19, 2022. JBT Corporation is a global technology solutions provider, serving high-value segments in the food & beverage industry as well as air transportation. The company employs around 7,200 people across more than 25 countries.

JBT Corporation reported a consolidated revenue of $555 million for Q3 2022, representing a 16% increase year over year. Earnings per share (EPS) rose to $1.07, with adjusted EPS at $1.27, showing increases of 18% and 25%, respectively. JBT also completed acquisitions of Alco and Bevcorp, expanding its market presence in protein processing and carbonated beverages. Despite macroeconomic uncertainties affecting customer investment timelines, JBT maintained a total backlog of $1.0 billion, up 15% year over year.

JBT Corporation (NYSE: JBT) will release its third quarter 2022 financial results after market close on October 26, 2022. A conference call to discuss the results is scheduled for 10:00 a.m. ET on October 27, 2022. Participants must register in advance to receive dial-in information, while a listen-only webcast will also be available. JBT is a global technology solutions provider focusing on the food & beverage and air transportation sectors, employing approximately 7,200 people across more than 25 countries.

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.