John Bean Technologies Corporation - JBT STOCK NEWS

On December 14, 2020, JBT Corporation announced the appointment of Brian Deck as President and CEO, effective immediately. Previously the Interim President and CEO since June 2020, Deck has been with the company since 2014 as CFO, driving strong financial returns and operational success. Under his leadership, JBT achieved over $1 billion in capital deployment through 16 acquisitions and outperformed the Russell 2000 Index in shareholder returns. Deck aims to focus on margin expansion and innovation to strengthen JBT's market position, especially amid challenges posed by the COVID-19 pandemic.

JBT Corporation (NYSE: JBT) declared a quarterly cash dividend of $0.10 per share on December 2, 2020. The payment will be issued on December 28, 2020 to stockholders of record by the close of business on December 14, 2020. JBT is a global technology solutions provider serving high-value segments in the food & beverage industry and air transportation, employing approximately 6,200 people worldwide. This dividend declaration reflects the company’s commitment to returning value to shareholders.

JBT Corporation (NYSE: JBT) has promoted Kristina Paschall to Executive Vice President, Chief Information & Digital Officer. Effective immediately, she will lead JBT's global IT organization and drive technology-driven business growth, particularly enhancing the iOPS® product capabilities. Ms. Paschall, who has been with JBT since 2017, will focus on improving digital customer interactions and IT security for over 6,000 global employees. The promotion aligns with JBT's strategy prioritizing technology in driving customer value and operational excellence.

JBT Corporation reported third-quarter 2020 revenue of $419 million, a 14% decline year-over-year. The company faced challenges due to the pandemic, with operating income at $28.3 million and net income of $17.2 million. Adjusted EBITDA fell 21% to $59.7 million, reflecting reduced demand in its FoodTech and AeroTech segments. However, sequential orders increased by 10% at FoodTech and sequentially increased by 18% overall. The company anticipates modest FoodTech revenue growth of 3-5% in Q4 and forecasts earnings per diluted share between $0.75 - $0.85.

JBT Corporation (NYSE: JBT) will release its third quarter 2020 financial results on October 27, 2020, after market close. A conference call for investors is scheduled for October 28, 2020, at 10:00 a.m. ET to discuss the results. Participants must register in advance to attend the call, which will also be available via webcast. JBT specializes in technology solutions for the food and beverage industry and provides services for air transportation customers, operating in over 25 countries with around 6,200 employees.

JBT Corporation mourns the loss of Tom Giacomini, its former Chairman, President, and CEO, who passed away on October 12, 2020, at the age of 55. His legacy includes fostering a culture of continuous improvement and building strong customer relationships, enhancing JBT's reputation in the food industry. Interim CEO Brian Deck highlighted Giacomini's charismatic leadership and mentorship, noting the significant impact he had on employees and the business. JBT, a global technology solutions provider in the food and beverage sector, employs around 6,200 people and operates in more than 25 countries.

JBT Corporation has appointed Brian Deck as Interim President and Chief Executive Officer, effective immediately, after Tom Giacomini stepped down to focus on his health. Alan Feldman remains as Non-Executive Chairman, while Matt Meister takes over as Interim CFO. The Board is actively searching for a permanent CEO. Feldman expressed confidence in the management team’s ability to execute corporate strategy during this transition. Under Giacomini's leadership, JBT saw significant shareholder value increase and a strong foundation for future growth.

JBT Corporation (NYSE: JBT) announced that Tom Giacomini will resume his role as President and CEO on September 21, 2020, after a medical leave. Brian Deck continues as Executive VP and CFO, while Alan Feldman remains as Interim Non-Executive Chairman for the year. The Board welcomed Giacomini back, appreciating Deck's interim leadership. Giacomini expressed gratitude for the support received during his absence and is eager to collaborate with the management team on strategic priorities.

On August 13, 2020, JBT Corporation (NYSE: JBT) declared a quarterly cash dividend of $0.10 per share, payable on September 8, 2020. Stockholders of record by August 24, 2020 will be eligible for this dividend. JBT, a global technology solutions provider in the food & beverage industry, focuses on proteins, liquid foods, and automated systems through its FoodTech segment, while its AeroTech segment serves the air transportation sector. The company employs around 6,300 people across more than 25 countries.