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

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

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

What is JBT Marel's gross profit margin?

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

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

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

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

- **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

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

JBTM

JBTM fundamentals

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