Food tech firm JBT Marel's Q3 profit beats estimates on cost control; revenue misses
Overview
Global food technology provider's Q3 revenue declined 1%, missing analyst expectations
Adjusted EPS for Q3 rose, beating analyst expectations
Company increased share repurchase authorization to $700 mln after $94 mln in Q3 buybacks
Outlook
JBT Marel sees FY 2026 revenue of $3.95 bln to $4.0 bln
Company expects FY 2026 net income margin of 5.6% to 6.0%
JBT Marel forecasts FY 2026 adjusted EBITDA margin at 17.25% to 17.50%
Result Drivers
COST SYNERGIES - Co said margin improvement was driven by cost synergy initiatives such as labor productivity, supply chain savings, and footprint optimization
POULTRY VOLUME - Protein Solutions segment growth was primarily driven by higher volumes in the Poultry business
SOFT CPG DEMAND - Prepared Food and Beverage Solutions segment revenue fell due to lower CPG-related book-and-ship volume
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $994 mln | $1.03 bln (7 Analysts) |
Q3 Adjusted EPS | Beat | $2.19 | $2.10 (8 Analysts) |
Q3 EPS | $1.34 | ||
Q3 Net Income | $70 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for JBT Marel Corporation is $168.00, about 46.4% above its November 2 closing price of $114.78
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)