JBT Q2 continuing ops adj. EPS $0.97 beat implied guidance; AeroTech sale closed for $800M

JBT MAREL Corp

2023-Q2 EPS reported $1.76 revenue$816,200,000

Revenue from continuing ops $428M (+9% YoY); income $28M; adjusted EBITDA $71M (+34%) with margin 16.7%.
Adjusted EPS $0.97 vs implied guidance $0.70-0.85; GAAP EPS $0.87.
Completed sale of AeroTech to Oshkosh for $800M; expects net proceeds ~$650M.
FY 2023 continuing ops guidance: revenue $1.67-1.72B, adj. EPS $3.80-4.05; Q3 adj. EPS $0.90-1.05.
Restructuring expense $11-13M in FY23; estimated annualized savings $18-20M by mid-2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JBT MAREL Corp reported second quarter ended June 30, 2023 results: revenue $428 million, net income $28 million, EPS $0.87.

Period: second quarter ended June 30, 2023
Revenue: $428 million
Net income: $28 million
EPS: $0.87
Result: reported results

Exact text from the filing

provider with the previously announced sale of AeroTech to Oshkosh Corporation for $800 million; transaction closed on August 1, 2023 ◦ Revenue from continuing operations of $428 million increased 9 percent ◦ Income from continuing operations of $28 million and earnings per share of $0.87 increased 8 and 9 percent, respectively ◦ Adjusted EBITDA from continuing

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Source: SEC EDGAR

accession 0001433660-23-000026

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