JBT Q4 EPS $1.64 (+69%); adj EPS $1.40; FY adj EBITDA margin 16.4%; Marel offer €3.60

JBT MAREL Corp

2023-FY EPS reported $18.13 revenue$1,664,400,000

Q4 revenue $445M (+1%); net income $53M (+69%); adjusted EBITDA $81M, margin 18.2% (+260 bps).
Full-year 2023 revenue $1,664M (+5%); adjusted EBITDA $273M (+20%); free cash flow $167M (129% conversion).
FY2024 guidance: revenue $1,750-1,780M; adj EBITDA $295-310M (margin 17.0-17.5%); adj EPS $5.05-$5.45.
Potential Marel merger: offer €3.60/share, 65% JBT stock/35% cash; launch expected Q2 2024, subject to conditions.
Net leverage 0.6x; backlog $678M (+2%); orders $1,668M (+5%); FIFO inventory method change adopted.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

JBT MAREL Corp reported fourth quarter and fiscal year ended December 31, 2023 results: revenue $445 million, net income $53 million, EPS $1.64. Guidance reaffirmed.

Period: fourth quarter and fiscal year ended December 31, 2023
Revenue: $445 million
Net income: $53 million
EPS: $1.64
Guidance: reaffirmed
Result: reported results

Exact text from the filing

This election change does not impact adjusted EBITDA or adjusted earnings per share as JBT’s metrics already reflected a FIFO accounting basis. Fourth quarter 2023 revenue of $445 million increased 1 percent year over year. Income from continuing operations of $53 million increased 69 percent. Included in income from continuing operations was an $11 million

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Source: SEC EDGAR

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