secwatch.observer — SEC 8-K summary
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Issuer:     JBT MAREL Corp (JBTM)
CIK:        0001433660
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001628280-24-019641
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1433660/000162828024019641/0001628280-24-019641-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1433660/000162828024019641/jbt-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019641

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