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

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

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

What is JBT Marel's gross profit margin?

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

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

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

What factors drove the changes in JBT Marel's revenue and profit?

- **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. 


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