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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.
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.
JBT Corporation (NYSE: JBT) has launched the Northfield CleanFREEZE™ Spiral Freezer, a product aimed at enhancing hygiene and maintenance efficiency in food processing. Key features include a sanitary design with fully welded enclosures, an easy-clean system that can sanitize the freezer in under four hours, and optimized uptime with a cold-to-cold turnaround of four hours. The launch addresses customer demands for improved hygiene and reduced downtime, reinforcing JBT’s commitment to innovation and operational excellence in the food industry.
JBT Corporation (NYSE: JBT) announced its acquisition of AutoCoding Systems Ltd. for approximately $17 million. This acquisition enhances JBT's packaging line capabilities, particularly in coding and label inspection, generating annual revenue of about $7 million. AutoCoding's software improves automation, reduces manual checks, and fits strategically with JBT's Proseal business. While this move is expected to positively impact JBT's market presence, it may decrease GAAP earnings per share by approximately $0.01 to $0.02 in 2021.
JBT Corporation (NYSE: JBT) has declared a quarterly cash dividend of $0.10 per share, to be paid on March 22, 2021. Stockholders must be on record by the close of business on March 8, 2021 to qualify for this dividend. JBT is a global technology solutions provider in the food and beverage industry, focusing on high-value segments such as proteins and automated systems. The company operates worldwide with approximately 6,200 employees across more than 25 countries.
JBT Corporation reported its 2020 financial results, highlighting full-year revenue of $1.7 billion, down 11% from 2019. Earnings per share were $3.39, or $3.94 adjusted. In Q4, revenue fell 19% year-over-year to $439 million, with operating income down 30%. Despite challenges from the COVID-19 pandemic, JBT maintained profitability through disciplined cost control. Looking ahead, JBT projects FoodTech revenue growth of 5-8% for 2021, with earnings guidance of $4.10-$4.35 per share. A key conference call is scheduled for February 23, 2021.
JBT Corporation (NYSE: JBT) is set to report its fourth quarter 2020 financial results after market close on February 22, 2021. A conference call will follow on February 23, 2021, at 10:00 a.m. ET. Interested participants are encouraged to register in advance through the provided link to receive dial-in details. The call will also be available via live webcast for listen-only access. JBT is a global technology solutions provider in the food & beverage industry, focusing on proteins and automated systems, with operations in over 25 countries.
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