Market Cap is calculated by multiplying the number of shares outstanding by the stock’s price. To calculate, start with total shares outstanding and subtract the number of restricted shares. Restricted stock typically is that issued to company insiders with limits on when it may be traded.Dividend YieldA company’s dividend expressed as a percentage of its current stock price.
Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. JBT Corporation, or John Bean Technologies Corporation, is a global food processing machinery and airport equipment company.
The company produced FMC Link-Belt branded cranes and excavators. In 1986, the Link-Belt Construction Equipment Company was formed as a joint venture between FMC Corporation and Sumitomo Heavy Industries. In 1946, FMC bought out Bolens Lawn And Garden Equipment.
That certainly won’t continue and we had pretty extraordinary what does relative performance mean business in the quarter. Lastly, our automated guided vehicle business continues to enjoy strength and demand. As we discussed last quarter, the backdrop of economic uncertainty remains a factor in the pace of FoodTech customers’ investments decision making, as does the cost and availability of capital. With that in mind, FoodTech orders of $406 million or $417 million on a constant currency basis met our expectations.
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JBT shares have added about 17.7% since the beginning of the year versus the S&P 500’s gain of 7.8%. Learn more about our products and find out how we can help you every step of the way. If you ate or drank something today, there’s a good chance JBT technology played a critical role in its preparation. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. After submitting your request, you will receive an activation email to the requested email address. You must click the activation link in order to complete your subscription.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios. In 2022, we estimate that more than 70% of JBT’s products and service revenues stem from equipment that delivered environmental benefits. Sustainability and profitability are not mutually exclusive for JBT and our customers. Our solutions have always been built around enabling customers to reduce food production costs and improve profitability.
So we’re seeing that play out largely as expected and we expect that to be a source of strength for frankly for years as that money gets deployed. Maybe, could you touch on the record order intake for AeroTech? What were the drivers there around, any particular projects, or products that are seeing high demand? Very helpful, Brian and then secondly, obviously some nice orders. Can you maybe least from a high level breakdown, price cost or I’m sorry, price and volume in the backlog, just trying to get a sense of the strength and obviously volume and compared to price as well.
You are not really carrying the Q1 beat to the full year outlook. So maybe a little bit of commentary as to what is unique in a quarter that perhaps doesn’t repeat on a go forward basis and really any other puts and takes to, to the outlook, relative to what you previously expected. I guess we’re I would like to start is with a little more color maybe on what you’re seeing in terms of FoodTech demand trends. I’m curious the protein business, how you see that progressing through the year, and I’m also curious from a pricing standpoint, how things are changing and where you sort of think you are on a price cost balance at this point. In the meantime, with a recovery in the commercial air demand, growth and defense applications and continued robust airport infrastructure spending, AeroTech’s backlog reached an all-time high and we are quoting well into 2024. Moving on to AeroTech, orders expanded 51% year-over-year to a record, $232 million, $50 million above any prior period, with improved price recovery and robust demand across the infrastructure and commercial airline and markets.
John Bean Technologies Corporation Provides Earnings Guidance for the Second Quarter and Full Year 2021
John Bean Technologies’ stock is owned by many different institutional and retail investors. Insiders that own company stock include Brian A Deck, Carlos Fernandez, Caroline Maury Devine, David C Burdakin, James L Marvin, James M Ringler, Jason T Clayton, Paul Sternlieb and Polly B Kawalek. John Bean Technologies has a news sentiment score of 0.57. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 . This news sentiment score is similar to the average news sentiment of Industrial Products companies.
So most of 2022 was getting new customers signed up, reference customers that are — that help prove out the product and allow us to make any changes to the product that’s necessary and, and help to develop the value proposition. So we’re just going to move forward with looking at good companies, maintain our discipline process on acquisitions, recognizing that we will have more capital available at some point provided AeroTech executes as we intended to. Then maybe follow up on your guidance, obviously, the quarter played out quite a bit better than the way you initially guided.
John Bean Technologies’ (NYSE:JBT) Returns On Capital Not Reflecting Well On The Business
John Bean Technologies updated its second quarter 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share guidance of $1.10-$1.25 for the period, compared to the consensus EPS estimate of $1.24. The company issued revenue guidance of $569.41 million-$591.11 million, compared to the consensus revenue estimate of $589.20 million.
Well, just history and data, data history would tell us, you have fits and starts sometimes. If you recall, I think it was third quarter last year, it declined for one quarter and it rebounded, and this one spiked. And, I will say what was pleasing, however, it was, it was strong globally. Every economic region showed strength in in aftermarket.
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An Intrinsic Calculation For John Bean Technologies Corporation (NYSE:JBT) Suggests It’s 34% Undervalued
Biden’s disturbing new government program may be worse than Obama’s. A former bank regulator is blowing the whistle on Biden’s frightening plan to take over your money. P/B https://1investing.in/s above 3 indicate that a company could be overvalued with respect to its assets and liabilities. Short interest in John Bean Technologies has recently increased by 4.26%, indicating that investor sentiment is decreasing. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.
- If you recall, I think it was third quarter last year, it declined for one quarter and it rebounded, and this one spiked.
- For example, by partnering with the World Climate Foundation, JBT joins a network of organizations, committed to accelerating the transition to a low carbon climate-resilient global economy.
- So yeah, we are in five product lines that have been introduced in the six that we’re getting closer on.
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John Bean Technologies Corp
It was stronger in the fourth quarter, sorry, in the first quarter, versus the third quarter last year, but not quite as strong as the fourth quarter. And that’s immediately driven by poultry and even the pork industry. At AeroTech, first quarter revenues increased 25% and adjusted EBITDA margins of 10.1% improved 300 basis points from the prior year period. AeroTech’s year-over-year margin expansion resulted from volume-driven leverage on fixed costs and the realization of pricing actions.
Historical and current end-of-day data provided by FACTSET. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements. On April 30, 2008, FMC Technologies announced the spinoff of its airport and food equipment businesses into a separate company named John Bean Technologies Corporation, headquartered in Chicago, Illinois. JBT is named after the spray pump inventor whose business was the foundation of FMC Corp.
But that said, we are really cognizant and aware of the broader economic environment and how that might impact how we go forward from here. We do have a large, relatively large go-get still, we’re reasonably well positioned in our backlog, but there still is go-get on our revenue. And, our margins obviously performed well, but there’s, in this economic environment, we didn’t feel that this was an environment for raising guidance. It’s just really a just being very cognizant of where we sit in the market. We think that’s going to moderate back to normal levels we’ll see, Obviously, we’ve got a great recurring revenue franchise and continue to be a source of strength for JBT, regardless of the economic environment.
Regarding our intent to become a pure play food and beverage solutions company, last quarter, we indicated separation is more likely to be realized through the sale of AeroTech. Our intent remains to be to execute by year end, while remaining cognizant of the capital market environment. On a JBT consolidated basis, adjusted EBITDA increased 30% or $16 million in the first quarter of 2023 to $70 million.
And so price impact for us is in that high single digit range, probably, 7% to 8% kind of range and so there is certainly a decent amount of price included in that increase of the backlog year-over-year. And certainly that is accelerated even more on the AeroTech side, as we’ve been able to implement new pricing on that business here at the end of Q4 and the first part of Q1. As it relates to price cost, we are seeing — we’re getting to that upward limit on pricing, generally speaking. We will continue to make sure we capture our increased cost, but there’s certainly more pressure on pricing than there’s been in prior quarters. And ultimately we think that will play out in North America as well, but at this point, North America is lower than I would say the normal baseline. JBT is also supporting the development of sustainable foods with solutions for production of plant-based proteins and dairy alternatives.