JBT Q2 revenue $402M (-6% YoY), EPS $0.95; Marel combination progressing, offer expires Sept 2

JBT MAREL Corp

2024-Q2 EPS reported $1.66 revenue$794,600,000

Q2 revenue $402M (-6% YoY); income from cont ops $31M (+8%); GAAP EPS $0.95 (+7%), adj EPS $1.05 (+8%).
Orders $437M (just below record, +13% sequentially); backlog $697M; adj EBITDA $64M (-11%), margin 15.8%.
FY 2024 guidance: revenue $1.715-1.75B (+3-5% YoY); adj EBITDA $295-305M; adj EPS $5.05-5.35.
Marel offer: €950M cash + ~38% ownership; offer period ends Sept 2; special stockholder meeting Aug 8; close targeted by year-end.
YTD free cash flow $14M; net leverage 0.6x; cumulative restructuring run-rate savings $17M.

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