JBT Q1: EPS $0.71 (+34%), adj EPS $0.85 (+39%); revenue $392M (+1%); FY guidance reiterated; Marel deal on track

JBT MAREL Corp

2024-Q1 EPS reported $0.71 revenue$392,300,000

Q1 revenue $392M (+1% YoY); GAAP EPS $0.71 (+34%); adjusted EPS $0.85 (+39%).
Adjusted EBITDA $57M (+6%); margin 14.6% (+60 bps). Orders $389M (-4%).
FY 2024 guidance reiterated: revenue $1,735-1,765M, adj EBITDA $295-310M, adj EPS $5.05-5.45.
Marel combination: definitive agreement signed Apr 4; expects >$125M annual cost synergies within 3 years; targeting close by end of 2024.
Operating cash flow $10M; free cash flow $1M; net leverage 0.6x.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JBT MAREL Corp reported first quarter ended March 31, 2024 results: revenue $392 million, net income $23 million (income from continuing operations), EPS $0.71 diluted earnings per share.

Period: first quarter ended March 31, 2024
Revenue: $392 million
Net income: $23 million (income from continuing operations)
EPS: $0.71 diluted earnings per share
Result: reported results

Exact text from the filing

Year 2024 Adjusted EBITDA and Adjusted EPS Guidance First Quarter Highlights: (Results are from continuing operations with comparisons to the prior year period) ◦ Revenue of $392 million increased 1 percent ◦ Income from continuing operations of $23 million and earnings per share of $0.71 increased 33 percent and 34 percent, respectively ◦ Adjusted EBITDA of $57

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Source: SEC EDGAR

accession 0001628280-24-019641

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