John Bean Technologies (NYSE:JBT) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

John Bean Technologies (NYSE:JBT) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.19), Briefing.com reports. The company had revenue of $402.30 million during the quarter, compared to analysts’ expectations of $432.67 million. John Bean Technologies had a return on equity of 9.79% and a net margin of 36.66%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. John Bean Technologies updated its FY24 guidance to $5.05-5.35 EPS and its FY 2024 guidance to 5.050-5.350 EPS.

John Bean Technologies Stock Performance

NYSE JBT traded down $2.65 on Friday, hitting $92.65. 59,191 shares of the stock traded hands, compared to its average volume of 261,457. The business’s fifty day moving average is $95.98 and its two-hundred day moving average is $97.10. John Bean Technologies has a 12 month low of $88.03 and a 12 month high of $114.30. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 5.08, a PEG ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.37.

John Bean Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.43%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s dividend payout ratio (DPR) is 2.13%.

Analyst Ratings Changes

Separately, William Blair reissued a “market perform” rating on shares of John Bean Technologies in a research note on Thursday, May 2nd.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.