What is the revenue and EPS growth rate for JBT Marel year over year?

What were the key takeaways from JBT Marel’s earnings call?

What guidance did JBT Marel's management provide for the next earnings period?

What does JBT Marel do and what are its main business segments?

What is the market's earnings forecast for JBT Marel next quarter?

What were the key takeaways from JBT Marel's earnings call?

What is JBT Marel's latest dividend and current dividend yield?

What is JBT Marel's gross profit margin?

- **Revenue Beat**: Q3 revenue $1B (+7% seq), orders $946M (+7% YoY), driven by poultry, pharma, and pet food. 
- **Margin Expansion**: Adjusted EBITDA 17.1%, up 140bps vs. guidance, with $14M synergies. 
- **Tariff Mitigation**: Q4 cost impact $20M, offset by pricing and domestic production. 
- **Cross-Selling Success**: Hamburger line order combines JBT and Marel tech. 
- **2026 Visibility**: 70%+ of revenue covered by $1.3B backlog, targeting below 3x leverage. 


**【CEO Summary Section】**
- Exceeded Q3 2025 expectations with revenue of $1 billion (+7% sequentially) and orders of $946 million (+7% YoY). Poultry, pet food, and pharma sectors drove growth, with notable pharma orders for GLP-1 production. Backlog of $1.3 billion supports 2026 visibility. 
- Highlighted strong manufacturing productivity, $14 million in synergy savings, and $26 million FX benefit. Tariffs expected to impact Q4 with $20 million cost increase. 
- Introduced new segments: Protein Solutions (legacy Marel) and Prepared Food & Beverage Solutions (legacy JBT). 

**【CFO Financial Commentary】**
- Adjusted EBITDA margin of 17.1% (vs. 15.7% prior guidance), driven by poultry mix and $14M synergies. Full year guidance raised to $3.76-3.79B revenue, $6.10-6.40 EPS. 
- Operating cash flow $88M (Q3 record), free cash flow $163M (9M). Leverage reduced to 3.1x, targeting below 3x by year-end. 
- Issued $575M convertible notes to refinance high-yield debt, mitigating dilution until $283/share. 

**【President's Integration Update】**
- $5M annual savings from renegotiated freight contracts, 150+ suppliers reduced to 5. New Pune, India plant supports Asia-Pacific growth. 
- Digital platform integration underway, with focus on seamless customer software experience. 
- Sustainability report highlights food waste reduction, energy efficiency, and traceability. 

**【Q&A Highlights】**
- **Marel Margin Strength**: 18.6% EBITDA margin due to poultry mix, cost synergies, and meat/fish improvement. 
- **2026 Growth**: 70%+ of 2026 revenue covered by backlog, with poultry investments and automation demand. 
- **Tariff Mitigation**: Pricing actions and domestic production shifts (e.g., Netherlands to Georgia) offset $15M Q3 impact. 
- **Cross-Selling Success**: Hamburger line order combining JBT and Marel technologies. 
- **AGV Business**: Strong 2026 outlook despite Q3 tariffs-related softness. 


JBT Marel Corporation (JBTM) Q3 2025 Earnings Call Transcript

- **Revenue Beat**: Q2 revenue of $935M (+13% JBT segment, +11% constant currency) exceeded guidance by $35M, driven by recurring revenue and FX.
- **Margin Expansion**: Adjusted EBITDA margin 16.7% (vs. 14.9% guidance), with 400bps improvement in Marel segment.
- **Tariff Mitigation**: $10-15M quarterly tariff impact offset by pricing, sourcing shifts, and $35-40M annual synergy savings.
- **Integration Success**: $5-10M incremental cross-sell orders in Q2, 15% pipeline growth in North America poultry.
- **2027 Vision**: Meat and fish businesses targeting mid-teens margins through automation, standardization, and service optimization.

**【CEO Summary Section】**
- Q2 2025 revenue of $935 million exceeded expectations, driven by $25 million in higher-than-expected recurring revenue and $8 million in favorable FX. 
- Combined JBT Marel orders reached $938 million, with poultry equipment investment leading the way. Backlog of $1.4 billion supports strong H2 revenue conversion.
- Tariff mitigation efforts include supplier negotiations, sourcing shifts, and pricing actions. Full year guidance re-established with $3.7 billion revenue midpoint.

**【CFO Financial Commentary】**
- Adjusted EBITDA margin of 16.7% (vs. 14.9% guidance midpoint) and adjusted EPS of $1.49 reflect strong cost control and mix benefits.
- Year-over-year synergy savings of $8 million in Q2, on track for $35-40 million annualized savings.
- Free cash flow of $106 million YTD, with leverage ratio improving to 3.4x.
- Full year 2025 guidance: $3.7B revenue, 15.25-16% EBITDA margin, $5.45-6.15 EPS.

**【President's Integration Update】**
- Cross-selling pipeline grows 15% in North America, with $5-10M incremental orders in Q2.
- Integrated poultry processing systems reduce waste by 66% and increase throughput 20%.
- Global service network expansion improves customer satisfaction and wallet share.
- Meat and fish businesses targeting mid-teens margins by 2027 through 80/20 prioritization and automation.

**【Q&A Highlights】**
- Poultry investment visibility extends into 2026, driven by automation and yield enhancement.
- Tariffs add $10-15M net cost per quarter, partially offset by pricing actions and supply chain shifts.
- Meat business margin improvement of 400bps YoY due to project selectivity and mix benefits.
- Cross-selling success validates JBT Marel's end-market focused go-to-market strategy.


JBT Marel Corporation (JBTM) Q2 2025 Earnings Call Transcript

- **Q1 Beat & Strong Margins**: Revenue +4% YoY, EBITDA margin 13.1%, orders up 12% to $916M.
- **Tariff Mitigation Plan**: $50M-$60M annual impact reduced by >50% via US manufacturing, supplier diversification.
- **Poultry Recovery Driver**: 12% YoY order growth, benefiting from industry fundamentals and cross-selling.
- **Cost Synergies On Track**: $35M-$40M 2025 savings vs. $150M+ by 2027, with $15M COGS savings and $20M restructuring benefits.
- **Leverage Improvement**: 3.8x debt ratio (3.2x covenant-adjusted), $1.3B liquidity.

**【CEO Opening Remarks】**
- Q1 2025 revenue exceeded guidance midpoint by $19M, driven by strong equipment shipments and recurring revenue.
- Adjusted EBITDA margin of 13.1% outperformed expectations, benefiting from volume flow-through and expense control.
- Orders up 12% YoY to $916M, with poultry industry recovery and diversified end-market demand (meat, beverage, pharma, pet food).
- Tariff impact estimated at $50M-$60M annually, but 50%+ mitigation achievable via supplier concessions, pricing actions, and supply chain repositioning.
- Full-year guidance suspended due to macroeconomic uncertainty, but Q2 guidance provided: $885M-$915M revenue, 14.5%-15.25% EBITDA margin, $1.20-$1.40 EPS.

**【CFO Financial Highlights】**
- JBT segment: +4% YoY revenue ($61M EBITDA, 14.9% margin), Marel segment: flat revenue (+19% EBITDA to $51M, 11.5% margin).
- Free cash flow $18M (excluding $42M M&A costs), with $1.3B liquidity and leverage improving to 3.8x (3.2x under banking covenant).
- 2025 cost synergies on track for $35M-$40M (vs. $150M+ by 2027), including $15M COGS savings and $20M-$25M restructuring savings.

**【Integration Progress】**
- New go-to-market structure focuses on end markets, enabling cross-selling of JBT Marel's full portfolio.
- Poultry industry recovery driving orders, with long-term growth outlook supported by 30%+ global protein demand growth.
- Full-line solutions (e.g., traceability from primary to further processing) enhance customer value with real-time analytics.
- Combined backlog reflects JBT's 40% US revenue exposure and Marel's 60% international mix, with 15% of backlog in parts/refurbishment.

**【Key Q&A Takeaways】**
- **Tariff Mitigation**: $12M-$15M/Q impact reduced by >50% via US manufacturing ramp-up, supplier diversification, and pricing adjustments.
- **Customer Behavior**: No widespread order delays, but 1-2 lost orders/month amid tariff uncertainty; poultry demand remains robust.
- **Recurring Revenue Resilience**: Parts demand strong pre-tariff announcements, with <10% parts imported from China/EU.
- **2026 Outlook**: Tariffs may become embedded cost, but Brazil/US production shifts could mitigate $6M-$7M/Q drag.
- **Fish Market Update**: Whitefish quota cuts (25% Barents Sea) offset by salmon industry recovery (+low/mid-single-digit production growth).

JBT Marel Corporation (JBTM) Q1 2025 Earnings Call Transcript

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