secwatch.observer — SEC 8-K summary
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Issuer:     JBT MAREL Corp (JBTM)
CIK:        0001433660
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0001433660-24-000026
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1433660/000143366024000026/0001433660-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1433660/000143366024000026/jbt-20240730.htm
  HTML page:      https://secwatch.observer/filing/0001433660-24-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer