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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) has announced the promotion of Robert Petrie to Executive Vice President and President of Protein, effective October 7. Petrie takes over from Paul Sternlieb, who resigns to become CEO of a non-competitive industrial company. Since 2016, Petrie has led JBT's Protein EMEA business and has extensive experience with the company, joining in 2009. CEO Brian Deck highlighted Petrie's leadership and technical background as key strengths. The transition is set to be smooth, as Sternlieb will remain until Petrie's start date.
On August 12, 2021, JBT Corporation (NYSE: JBT) announced a quarterly cash dividend of $0.10 per share, payable on September 7, 2021. Stockholders of record by August 23, 2021 will receive the dividend. JBT Corporation is a global technology solutions provider for the food & beverage industry, focusing on proteins, liquid foods, and automated systems through its FoodTech segment, while also serving the air transportation sector via AeroTech. The company operates in over 25 countries and employs about 6,200 people.
JBT Corporation reported second-quarter 2021 revenue of $476 million, exceeding expectations, with adjusted earnings per share at $1.19. Record orders increased 68% year-over-year, reflecting strong demand, particularly in FoodTech, which saw a 19% revenue rise. The company generated operating cash flow of $45 million. Despite macroeconomic pressures, including supply chain disruptions and material inflation, full-year revenue growth guidance was raised to 10-13%. JBT completed the acquisition of Prevenio, enhancing its food safety solutions, expected to generate $50 million annually.
JBT Corporation (NYSE: JBT) will release its second quarter 2021 financial results on July 27, 2021, after market close. A conference call is set for 10:00 a.m. ET on July 28, 2021. Participants must register in advance to receive dial-in details. The call will also be available via webcast for listen-only mode, with a replay accessible shortly after the event. JBT is a global technology solutions provider, serving the food & beverage industry and air transportation sectors, employing approximately 6,200 people in over 25 countries.
JBT Corporation (NYSE: JBT) announced its definitive agreement to acquire Prevenio for $170 million. Prevenio, a leader in food safety solutions for the poultry industry, enhances JBT's portfolio with its antimicrobial delivery system, aiming to improve food safety and operational integrity. The acquisition is expected to contribute approximately $50 million in annual revenue and be accretive to JBT's earnings by $0.03 in 2021 and $0.10 in 2022. The deal is anticipated to close in Q3 2021, further solidifying JBT's commitment to robust customer support and market growth.
On May 25, 2021, JBT Corporation (NYSE: JBT) announced the pricing of a $350 million offering of 0.25% convertible senior notes due 2026, with an option for initial purchasers to buy an additional $52.5 million. The proceeds will cover the costs of related hedge transactions and support general corporate purposes, including potential acquisitions. The notes, convertible at an initial rate of 5.8958 shares per $1,000 principal, will mature on May 15, 2026. JBT has also entered into hedge and warrant transactions to offset potential dilution from conversion.
JBT Corporation (NYSE: JBT) announced its intention to offer $350 million of convertible senior notes due 2026. An additional $52.5 million may be available to initial purchasers. Proceeds will cover costs linked to convertible note hedge transactions and be used for general corporate purposes, including acquisitions. The notes are unsecured and mature on May 15, 2026. The company plans to enter into hedge transactions to mitigate dilution effects on common stock. The notes will be offered exclusively to qualified institutional buyers under Rule 144A.
JBT Corporation (NYSE: JBT) declared a quarterly cash dividend of $0.10 per share on May 14, 2021. This dividend is scheduled for payment on June 10, 2021 to shareholders registered by the close of business on May 27, 2021. JBT operates globally in the food and beverage technology sector and the air transportation equipment sector, employing around 6,200 individuals across more than 25 countries.
JBT Corporation reported first-quarter 2021 results with revenue of $418 million, meeting expectations. Earnings per share were $0.84 (or $0.90 adjusted). Year-over-year, orders at FoodTech increased by 22%, leading to record highs. However, overall revenue declined by 9% compared to last year. Operating income fell by 14% and net income decreased by 7%. Despite challenges from supply chain disruptions and inflation, an optimistic outlook for 2021 predicts FoodTech revenue growth of 9%-11%. The company anticipates a second quarter revenue of $435-$455 million.
JBT Corporation (NYSE: JBT) is set to release its first quarter 2021 financial results on April 26, 2021, after market close. A conference call will take place at 10:00 a.m. ET on April 27, 2021. Interested participants must register in advance to receive dial-in details. The call will also be available via webcast. JBT Corporation specializes in technology solutions for the food & beverage industry and air transportation, operating in over 25 countries. For further details, visit JBT's investor relations page.
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