John Bean Technologies Corporation - JBT STOCK NEWS

JBT Corporation (NYSE: JBT) has acquired Urtasun Tecnología Alimentaria S.L. for approximately $40 million. This acquisition enhances JBT's offerings in fruit and vegetable processing, particularly in fresh packaged and frozen markets. Urtasun anticipates a revenue of $25 million for 2021, with adjusted EBITDA margins in the mid to high teens. The deal is projected to be dilutive to GAAP earnings per share by four cents in 2021 but accretive by three cents in 2022. JBT aims to leverage its global footprint for accelerated growth through this integration.

JBT Corporation reported third-quarter 2021 revenue of $477 million, up 14% year-over-year, with earnings per share at $0.91. Orders surged 24%, led by a 45% increase in FoodTech backlog. Operating income was $41 million and net income $29 million. However, AeroTech faced challenges with stagnant revenue and decreased adjusted EBITDA margin. The company has revised its full-year guidance, now anticipating total revenue growth of 9-10% but a 3% decline in AeroTech revenue. Full-year adjusted earnings per share are projected at $3.70-$3.80.

JBT Corporation (NYSE: JBT) will release its third quarter 2021 financial results on October 27, 2021, after market close. A conference call is scheduled for October 28, 2021, at 10:00 a.m. ET. Participants must register in advance to receive dial-in information and a unique ID. The call will be webcasted for listen-only access and available for replay shortly after. JBT Corporation is a global technology solutions provider in the food & beverage and air transportation industries, employing approximately 6,200 people worldwide.

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.