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JBT Marel's second-quarter adjusted EPS of $1.95 came in below the $2.02 consensus estimate, and the stock lost roughly 7.9%; Levi & Korsinsky is investigating potential securities law violations on behalf of shareholders who lost money.

, /PRNewswire/ -- An earnings shortfall cost JBT Marel (JBTM) shareholders roughly 7.9% of their investment value in a single trading session after the Company reported second-quarter adjusted EPS of $1.95 against the $2.02 analyst consensus. Shareholders who lost money on JBTM are encouraged to submit their loss information now . You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (212) 363-7500.

The quarter's numbers: adjusted EPS of $1.95 versus the $2.02 estimate. Revenue of approximately $981 million, slightly below or essentially in line with estimates depending on the consensus dataset. The gap between the reported profit figure and the Street number, not the top line, drove the selloff as investors focused on profitability.

JBTM attributed part of the quarter's performance to logistics constraints and production inefficiencies in the Prepared Food and Beverage segment, which delayed revenue. Reporting on the results also highlighted margin friction and a non-cash impairment charge. Levi & Korsinsky is investigating potential securities law violations on behalf of JBTM investors.

If you purchased JBTM shares and suffered a loss, click here to submit your information . You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (212) 363-7500.

ABOUT THE FIRM  -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the JBTM Investigation

Q: How much did JBTM stock drop?  A: Shares fell approximately 7.9% after the Company reported second-quarter adjusted EPS of $1.95 against the $2.02 analyst consensus estimate, along with logistics constraints and production inefficiencies in the Prepared Food and Beverage segment. Investors who suffered losses may be eligible to seek recovery.

Q: Who is eligible to participate in the JBTM investigation?  A: Investors who purchased JBTM stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: Who is conducting the JBTM investigation?  A: Levi & Korsinsky, LLP is investigating potential securities claims on behalf of investors who purchased JBTM securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.

Q: What do JBTM investors need to do right now?  A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected]  or (212) 363-7500.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my JBTM shares -- can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought JBTM and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?  A: There is no upfront cost. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected] 
Tel: (212) 363-7500
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE Levi & Korsinsky, LLP

-

CHICAGO--(BUSINESS WIRE)--JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per share of outstanding common stock. The dividend will be payable on August 31, 2026, to stockholders of record at the close of business on August 17, 2026.

JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) is a leading global technology solutions provider to high-value segments of the food & beverage industry. JBT Marel’s unique solutions of integrated equipment, service, software, and application expertise enables customers to optimize food yield and efficiency, improve food safety and quality, and enhance uptime and proactive maintenance, all while reducing waste and resource use across the global food supply chain. JBT Marel operates more than 50 manufacturing and distribution facilities globally. For more information, please visit www.jbtmarel.com.

More News From JBT Marel Corp

Back to Newsroom

JBT Marel Corporation (JBTM) Q2 2026 Earnings Call Transcript

CHICAGO--(BUSINESS WIRE)--JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM), a leading global technology solutions provider to high-value segments of the food & beverage industry, today reported financial results for the second quarter of 2026.

"We are extremely pleased with the continued orders strength, which was led by robust demand in our Prepared Food and Beverage Solutions segment with strong customer investment in downstream, further processing technology," said Brian Deck, Chief Executive Officer. "While we experienced some operational inefficiencies and logistics constraints in the Prepared Food and Beverage Solutions segment in the second quarter, our record backlog, coupled with the fundamental benefits of the JBT Marel combination and ongoing operational improvement initiatives, provide visibility into our second half 2026 outlook and further our confidence in achieving our full year revenue and adjusted EBITDA guidance."

Comparisons in this news release are to the comparable period of the prior year, unless otherwise noted. An earnings presentation with supplemental information is available on the Company's Investor Relations website at https://ir.jbtmarel.com/events/presentations.

JBT Marel Second Quarter 2026 Consolidated Results

"We continue to execute on our integration and cost synergy initiatives, which we expect will enable $60 million of in-year realized savings for 2026," said Matt Meister, Chief Financial Officer. "At the same time, we are navigating a dynamic operating environment with higher inflationary costs. While these factors create near-term headwinds, our focus remains on disciplined execution, pricing actions, and operational improvements to mitigate the impact."

Second quarter 2026 consolidated revenue of $981 million increased 5 percent with approximately 2 percent benefit from foreign exchange translation. Net income of $28 million increased $25 million, and net income margin of 2.9 percent improved 250 basis points. Included in net income was a $33 million non-cash, non-recurring impairment charge related to a 2021 acquisition.

During the second quarter 2026, JBT Marel operated in a dynamic economic and trade environment and experienced a few discrete items, the effects of which will be discussed during the upcoming earnings call.

Second quarter 2026 consolidated adjusted EBITDA of $168 million increased $12 million, and adjusted EBITDA margin of 17.1 percent improved 40 basis points. Diluted earnings per share (EPS) was $0.54 compared to $0.07. Adjusted EPS was $1.95 compared to $1.49. Orders totaled $1.03 billion, inclusive of approximately $16 million in a year-over-year benefit from foreign exchange translation, and quarter-ending backlog was $1.54 billion.

Year to date 2026 operating cash flow was $221 million, and free cash flow was $179 million. As of June 30, 2026, the Company's net debt to trailing twelve months adjusted EBITDA was 2.47x.

As previously announced, JBT Marel's Board of Directors authorized a share repurchase program for the purchase of up to $200 million of the Company’s common stock, effective from May 18, 2026, through May 31, 2029. During the second quarter 2026, the Company repurchased approximately 200,000 shares of common stock for $26 million.

JBT Marel Second Quarter 2026 Segment Results

Three Months Ended June 30, 2026

In millions except margin

Protein Solutions

Prepared Food and
Beverage Solutions

Segment revenue

$

467

$

514

Segment adjusted EBITDA

$

112

$

90

Segment adjusted EBITDA margin

24.0 %

17.5 %

Second quarter 2026 Protein Solutions segment revenue increased 11 percent, inclusive of approximately 3 percent year-over-year benefit from foreign exchange translation. Segment adjusted EBITDA margin improved 350 basis points.

Second quarter 2026 Prepared Food and Beverage Solutions segment results were below Company expectations primarily due to the timing of backlog-to-revenue conversion resulting from logistics constraints and certain productivity inefficiencies in connection with optimizing supply chain and manufacturing operations. Segment revenue was flat, inclusive of approximately 2 percent year-over-year benefit from foreign exchange translation. Segment adjusted EBITDA margin declined 70 basis points.

JBT Marel Outlook

JBT Marel is reiterating its full year 2026 guidance for revenue and adjusted EBITDA margin. It has refined its guidance for adjusted EPS to reflect updated assumptions for depreciation and amortization expense and the effective tax rate. The Company also updated its full year 2026 net income margin and GAAP EPS guidance primarily to reflect the non-cash, non-recurring impairment charge incurred in the second quarter. The below table reflects consolidated guidance.

Guidance

In millions except EPS and margin

FY 2026

Revenue

$3,990 - $4,065

Net income margin

5.5% - 6.0%

Adjusted EBITDA margin(1)

17.0% - 17.5%

GAAP diluted EPS

$4.20 - $4.70

Adjusted EPS(1)

$7.85 - $8.35

(1) Non-GAAP figure. Please see supplemental schedules for adjustments and reconciliations.

For the full year 2026, JBT Marel still expects year-over-year consolidated revenue growth of 5 - 7 percent, which is inclusive of approximately 1.5 percent foreign exchange translation benefit.

For the full year 2026, JBT Marel expects to incur certain one-time and acquisition related costs for previously completed transactions, which are included in net income margin and GAAP diluted EPS guidance and excluded from adjusted EPS and adjusted EBITDA margin guidance. These include approximately $167 million in acquisition related amortization and depreciation, $32 million in M&A related costs, $20 million in restructuring costs, and $33 million in non-cash impairment expense incurred in the second quarter.

Full year 2026 total depreciation and amortization is expected to be approximately $263 million. Interest expense is estimated to be approximately $47 million, and other financing income is expected to be approximately $7 million. The full year tax rate is estimated to be approximately 24 percent.

Earnings Conference Call

A conference call is scheduled for 10:00 a.m. ET / 14:00 GMT on Tuesday, August 4, 2026, to discuss second quarter 2026 results. A simultaneous webcast and audio replay of the call will be available on the Company’s Investor Relations website at https://ir.jbtmarel.com/events/ir-calendar.

About JBT Marel Corporation

JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) is a leading global technology solutions provider to high-value segments of the food & beverage industry. JBT Marel’s unique solutions of integrated equipment, service, software, and application expertise enables customers to optimize food yield and efficiency, improve food safety and quality, and enhance uptime and proactive maintenance, all while reducing waste and resource use across the global food supply chain. JBT Marel operates more than 50 manufacturing and distribution facilities globally. For more information, please visit www.jbtmarel.com.

Non-GAAP Measures and Reconciliations to GAAP Measures

Adjusted EBITDA, Adjusted EBITDA margin, Adjusted income, Adjusted diluted earnings per share (“Adjusted EPS”), and Free cash flow are non-GAAP financial measures. JBT Marel provides non-GAAP financial measures in order to increase transparency in our operating results and trends. These non-GAAP measures eliminate certain costs or benefits from, or change the calculation of, a measure as calculated under U.S. GAAP. By eliminating these items, JBT Marel provides a more meaningful comparison of our ongoing operating results, consistent with how management evaluates performance. Management uses these non-GAAP measures in financial and operational evaluation, planning and forecasting. These calculations may differ from similarly-titled measures used by other companies. The non-GAAP financial measures disclosed are not intended to be used as a substitute for, nor should they be considered in isolation of, financial measures prepared in accordance with U.S. GAAP. Reconciliations of non-GAAP financial measures can be found in the supplemental schedules to this release.

Presentation of Percentage Calculations

Effective in 2026, percentage amounts presented in this press release have been calculated using rounded figures. In prior periods, percentage amounts were calculated using the unrounded underlying values rather than the rounded figures presented. As a result, certain percentage amounts in this section may differ slightly from percentages calculated using the figures presented in the Company’s Consolidated Financial Statements or the accompanying narrative.

Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond JBT Marel's ability to control. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. These forward-looking statements include, among others, statements relating to our business and our results of operations, our strategic plans, our restructuring plans and expected cost savings from those plans and our liquidity. The factors that could cause our actual results to differ materially from expectations include, but are not limited to, the following factors: fluctuations in our financial results; termination or loss of major customer contracts and risks associated with fixed-price contracts, particularly during periods of high inflation; catastrophic loss at any of our facilities and business continuity of our information systems; loss of key management and other personnel; our ability to remediate the material weaknesses relating to the Marel financial statements; deterioration of economic conditions, including impacts from supply chain delays and reduced material or component availability; unanticipated delays or acceleration in our sales cycles; inflationary pressures, including increases in energy, raw material, freight, and labor costs; changes in food consumption patterns; weather conditions and natural disasters; impacts of pandemic illnesses, food borne illnesses and diseases to various agricultural products; work stoppages; customer sourcing initiatives; competition and innovation in our industries; disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; changes to tariffs, trade regulations, quotas, or duties; potential liability arising out of the installation or use of our systems; the impact of climate change and environmental protection initiatives; our ability to comply with U.S. and international laws governing our operations and industries; increases in tax liabilities; risks related to acquisitions, such as our ability to integrate the acquisitions we have consummated, including the integration of the legacy businesses of JBT and Marel; our ability to develop and introduce new or enhanced products and services and keep pace with technological developments; difficulty in developing, preserving and protecting our intellectual property or defending claims of infringement; cybersecurity risks such as network intrusion or ransomware schemes; our convertible note hedge and warrant transactions; the maintenance of two stock exchange listings; fluctuations in currency exchange rates and interest rates; our level of indebtedness; availability of and access to financial and other resources; and the factors described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report on Form 10-K and any future Quarterly Report on Form 10-Q.

If one or more of those or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Consequently, actual events and results may vary significantly from those included in or contemplated or implied by our forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement made by us or on our behalf, whether as a result of new information, future developments, subsequent events or changes in circumstances or otherwise.

JBT MAREL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited and in millions, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Revenue

$

981

$

935

$

1,917

$

1,789

Cost of sales

622

600

1,229

1,162

Gross profit

359

335

688

627

Gross profit margin

36.6 %

35.8 %

35.9 %

35.0 %

Selling, general and administrative expense

313

287

574

612

Operating income (loss)

46

48

114

15

Operating income margin

4.7 %

5.1 %

5.9 %

0.8 %

Pension expense, other than service cost

—

—

—

147

Loss on investment

—

11

—

11

Interest expense, net

13

29

23

70

Other income

(2)

(3)

(4)

(5)

Income (loss) before income taxes

35

11

95

(208)

Income tax provision (benefit)

7

8

22

(38)

Net income (loss)

$

28

$

3

$

73

$

(170)

Earnings (loss) per share:

Basic

$

0.54

$

0.07

$

1.40

$

(3.27)

Diluted

$

0.54

$

0.07

$

1.40

$

(3.27)

Weighted average shares outstanding:

Basic

52.1

52.1

52.1

51.9

Diluted

52.2

52.2

52.3

51.9

Other business information from operations:

Inbound orders

$

1,030

$

938

$

2,100

$

1,854

Orders backlog

$

1,536

$

1,394

JBT MAREL CORPORATION

NON-GAAP FINANCIAL MEASURES

RECONCILIATION OF DILUTED EARNINGS PER SHARE TO ADJUSTED DILUTED EARNINGS PER SHARE

(Unaudited and in millions, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net income (loss)

$

28

$

3

$

73

$

(170)

Non-GAAP adjustments

Restructuring and related costs, net (1)

12

6

10

17

M&A related costs (2)

11

20

19

94

Impairment of intangible assets (3)

33

—

33

—

Acquisition related amortization and depreciation (4)

42

58

87

100

Loss on investment

—

11

—

11

Amortization of bridge financing debt issuance cost

—

—

—

12

Impact from tax provision on Non-GAAP adjustments (5)

(24)

(20)

(37)

(51)

Recognition of non-cash pension plan related settlement costs

—

—

—

147

Impact on tax provision from non-cash pension plan related settlement costs

—

—

—

(37)

Discrete tax adjustment from M&A activity

—

—

—

5

Adjusted income

$

102

$

78

$

185

$

128

Net income (loss)

$

28

$

3

$

73

$

(170)

Total shares and dilutive securities

52.2

52.2

52.3

51.9

Diluted earnings (loss) per share

$

0.54

$

0.07

$

1.40

$

(3.27)

Adjusted income

$

102

$

78

$

185

$

128

Total shares and dilutive securities

52.2

52.2

52.3

52.0

Adjusted diluted earnings per share

$

1.95

$

1.49

$

3.54

$

2.46

(1) Costs associated with restructuring actions, primarily consisting of severance and related employee costs. These costs are not considered reflective of our ongoing operating performance.

(2) Advisory, strategy, integration, and other costs associated with completed M&A transactions. These costs are directly attributable to the integration of acquired businesses and are not considered indicative of our ongoing operating performance.

(3) Non-cash impairment charge related to acquired intangible assets recorded in the second quarter of 2026. This charge is not considered reflective of our ongoing operating performance.

(4) Amortization and depreciation resulting from the fair value adjustments recorded in connection with acquisitions. These expenses are not considered indicative of our ongoing operating performance and are directly attributable to acquired businesses.

(5) Impact on tax provision was calculated using the enacted rate for the relevant jurisdiction for each period shown.

The above table reports adjusted income and adjusted diluted earnings per share, which are non-GAAP financial measures. We use these measures internally to make operating decisions and for the planning and forecasting of future periods, and therefore provide this information to investors because we believe it allows more meaningful period-to-period comparisons of our ongoing operating results, without the fluctuations in the amount of certain costs that do not reflect our underlying operating results.

JBT MAREL CORPORATION

NON-GAAP FINANCIAL MEASURES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA

(Unaudited and in millions)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net income (loss)

$

28

$

3

$

73

$

(170)

Income tax provision (benefit)

7

8

22

(38)

Interest expense, net

13

29

23

70

Other financing income (1)

(2)

(3)

(4)

(5)

Restructuring and related costs, net (2)

12

6

10

17

M&A and related costs (3)

11

20

19

94

Impairment of intangible assets (4)

33

—

33

—

Loss on investment

—

11

—

11

Pension expense, other than service cost (5)

—

—

—

147

Depreciation and amortization (6)

66

82

134

143

Adjusted EBITDA

$

168

$

156

$

310

$

268

Total revenue

$

981

$

935

$

1,917

$

1,789

Net income (loss) margin

2.9 %

0.4 %

3.8 %

(9.5) %

Adjusted EBITDA margin

17.1 %

16.7 %

16.2 %

15.0 %

(1) Other financing income represents transaction gains from fair value hedges on our foreign currency denominated debt, which are considered non-operating as they relate to the cost of borrowing on debt.

(2) Costs associated with restructuring actions, primarily consisting of severance and related employee costs. These costs are not considered reflective of our ongoing operating performance.

(3) Advisory, strategy, integration, and other costs associated with completed M&A transactions that are not considered indicative of our ongoing operating performance and are directly attributable to the integration of acquired businesses.

(4) Non-cash impairment charge related to acquired intangible assets recorded in the second quarter of 2026. This charge is not considered reflective of our ongoing operating performance.

(5) Pension expense, other than service cost, is excluded as it represents all non service-related pension expense, which consists of non-cash interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlement charges.

(6) Depreciation and amortization, including acquisition related amortization and depreciation expense, is excluded to determine EBITDA.

The above table reports Adjusted EBITDA and Adjusted EBITDA margin, which are non-GAAP financial measures. We use Adjusted EBITDA and Adjusted EBITDA margin internally to make operating decisions and believe that Adjusted EBITDA is useful to investors as a measure of the Company’s operational performance and a way to evaluate and compare operating performance against peers in the Company's industry.

JBT MAREL CORPORATION

SEGMENT RESULTS

(Unaudited and in millions)

Three Months Ended June 30, 2026

Three Months Ended June 30, 2025

(In millions)

Protein
Solutions

Prepared
Food and
Beverage
Solutions

Total

Protein
Solutions

Prepared
Food and
Beverage
Solutions

Total

Revenue

$

467

$

514

$

421

$

514

Less:

Cost of sales

282

340

270

330

Research and development

11

6

21

10

Other segment items (1)

95

107

87

112

Add:

Depreciation and amortization

33

29

43

32

Segment Adjusted EBITDA

$

112

$

90

$

202

$

86

$

94

$

180

Less:

Interest expense, net

13

29

Other income

(2)

(3)

Restructuring and related costs, net

12

6

M&A related costs

11

20

Impairment of intangible assets

33

—

Loss on investment

—

11

Depreciation and amortization

66

82

Unallocated amounts:

Corporate expense (2)

34

24

Income before income taxes

$

35

$

11

(1) Other segment items for each reportable segment include operating expenses, which primarily consist of selling, general and administrative expenses and corporate and shared service expenses allocated to each segment based upon benefits received. Other segment items exclude the impact of restructuring, M&A and other one-time related costs as they do not reflect the ongoing operations of the underlying business.

(2) Corporate expense is primarily comprised of unallocated selling, general and administrative expenses and activity that does not meet the criteria of a reportable segment. Corporate expense excludes the impact of depreciation and amortization, restructuring, M&A and other one-time related and non-operating costs shown separately in the table above.

JBT MAREL CORPORATION

SEGMENT RESULTS

(Unaudited and in millions)

Six Months Ended June 30, 2026

Six Months Ended June 30, 2025

(In millions)

Protein
Solutions

Prepared
Food and
Beverage
Solutions

Total

Protein
Solutions

Prepared
Food and
Beverage
Solutions

Total

Revenue

$

927

$

990

$

799

$

990

Less:

Cost of sales

571

658

517

644

Research and development

22

13

41

20

Other segment items (1)

189

219

163

213

Add:

Depreciation and amortization

67

60

71

59

Segment Adjusted EBITDA

$

212

$

160

$

372

$

149

$

172

$

321

Less:

Interest expense, net

23

70

Other income

(4)

(5)

Restructuring and related costs, net

10

17

M&A related costs

19

94

Impairment of intangible assets

33

—

Loss on investment

—

11

Pension expense, other than service cost

—

147

Depreciation and amortization

134

$

143

Unallocated amounts:

Corporate expense (2)

62

52

Income before income taxes

$

95

$

(208)

(1) Other segment items for each reportable segment include operating expenses, which primarily consist of selling, general and administrative expenses and corporate and shared service expenses allocated to each segment based upon benefits received. Other segment items exclude the impact of restructuring, M&A and other one-time related costs as they do not reflect the ongoing operations of the underlying business.

(2) Corporate expense is primarily comprised of unallocated selling, general and administrative expenses and activity that does not meet the criteria of a reportable segment. Corporate expense excludes the impact of depreciation and amortization, restructuring, M&A and other one-time related and non-operating costs shown separately in the table above.

JBT MAREL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited and in millions)

June 30, 2026

December 31, 2025

Assets

Cash and cash equivalents

$

93

$

168

Restricted cash

19

19

Trade receivables, net of allowances

443

443

Contract assets

144

119

Inventories

700

644

Other current assets

215

190

Total current assets

1,614

1,583

Property, plant and equipment, net

773

793

Goodwill

3,385

3,428

Intangible assets, net

1,972

2,122

Other assets

262

265

Total Assets

$

8,006

$

8,191

Liabilities and Stockholders' Equity

Short-term debt

$

9

$

412

Accounts payable, trade and other

300

262

Advance and progress payments

561

518

Accrued payroll

157

170

Other current liabilities

276

260

Total current liabilities

1,303

1,622

Long-term debt, less current portion

1,670

1,470

Deferred tax liabilities

356

383

Other liabilities

205

252

Common stock and additional paid-in capital

2,701

2,718

Retained earnings

1,527

1,465

Accumulated other comprehensive income

244

281

Total stockholders' equity

4,472

4,464

Total liabilities and stockholders' equity

$

8,006

$

8,191

JBT MAREL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited and in millions)

Six Months Ended June 30,

2026

2025

Cash flows from operating activities:

Net income (loss)

$

73

$

(170)

Adjustments to reconcile income (loss) to cash provided by operating activities:

Depreciation and amortization

134

143

Stock-based compensation

19

9

Impairment of intangible assets

33

—

Pension and other post-retirement benefits expense

—

148

Other, net

5

49

Changes in operating assets and liabilities

Trade accounts receivable, net

(29)

31

Inventories

(60)

(65)

Accounts payable, trade and other

45

14

Advance and progress payments

51

27

Other assets and liabilities, net

(50)

(49)

Cash provided by operating activities

221

137

Cash flows from investing activities:

Acquisitions, net of cash acquired

—

(1,746)

Capital expenditures

(51)

(39)

Proceeds from disposal of assets

9

5

Cash required by investing activities

(42)

(1,780)

Cash flows from financing activities

Net proceeds (repayments of) domestic credit facilities, net of debt issuance costs

398

(254)

Net (repayments of) proceeds from Term loan B, net of debt issuance costs

(202)

896

Repayment of 2026 Notes

(403)

—

Settlement of deal contingent hedge

—

(43)

Dividends

(11)

(11)

Common stock repurchases

(26)

—

Other, net

(10)

(45)

Cash (required) provided by financing activities

(254)

543

Net (decrease) increase in cash, cash equivalents and restricted cash

(75)

(1,100)

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

—

2

Net (decrease) increase in cash, cash equivalents and restricted cash

$

(75)

$

(1,098)

Cash and cash equivalents from operations, beginning of period

187

1,228

Add: Net (decrease) increase in cash and cash equivalents

(75)

(1,098)

Cash, cash equivalents and restricted cash from operations, end of period

$

112

$

130

JBT MAREL CORPORATION

NON-GAAP FINANCIAL MEASURES

FREE CASH FLOW

(Unaudited and in millions)

Six Months Ended June 30,

2026

2025

Cash provided by operating activities

$

221

$

137

Less: capital expenditures

51

39

Plus: proceeds from disposal of assets

9

5

Plus: pension contributions

—

3

Free cash flow (FCF)

$

179

$

106

The above table reports free cash flow, which is a non-GAAP financial measure. We use free cash flow internally as a key indicator of our liquidity and ability to service debt, invest in business combinations, and return money to shareholders and believe this information is useful to investors because it provides an understanding of the cash available to fund these initiatives.

JBT MAREL CORPORATION

NET DEBT CALCULATION

(Unaudited and in millions)

As of Quarter Ended

Change From

Q2 2026

Q4 2025

Q2 2025

Prior Year-
End

Prior Year

Total debt

$

1,679

$

1,882

$

1,922

$

(203)

$

(243)

Less: cash and marketable securities

93

168

112

(75)

(19)

Net debt

$

1,586

$

1,714

$

1,810

$

(128)

$

(224)

JBT MAREL CORPORATION

BANK TOTAL NET LEVERAGE RATIO CALCULATION

(Unaudited and in millions)

Q2 2026

Total debt

$

1,679

Less: cash and marketable securities

93

Net debt

1,586

Other items considered debt under the credit agreement

45

Consolidated total indebtedness(1)

$

1,631

Trailing twelve months adjusted EBITDA

643

Other adjustments net to earnings under the credit agreement

38

Consolidated EBITDA(1)

$

681

Bank total net leverage ratio (Consolidated total indebtedness / Consolidated EBITDA)

2.40

Total net debt to trailing twelve months adjusted EBITDA

2.47

(1) As defined in the credit agreement.

JBT MAREL CORPORATION

NON-GAAP FINANCIAL MEASURES

RECONCILIATION OF DILUTED EARNINGS PER SHARE

TO ADJUSTED DILUTED EARNINGS PER SHARE GUIDANCE

(Unaudited and in cents)

Guidance

Full Year 2026

Diluted earnings per share

$4.20 - $4.70

Non-GAAP adjustments:

Restructuring related costs(1)

~ 0.38

M&A related costs(2)

~ 0.61

Impairment of intangible assets(3)

~ 0.63

Acquisition related amortization and depreciation(4)

~ 3.21

Impact on tax provision from Non-GAAP adjustments(5)

~ (1.16)

Adjusted diluted earnings per share

$7.85 - $8.35

(1) Restructuring and related costs are estimated to be approximately $20 million for the full year 2026. The amount has been divided by our estimate of 52.2 million total shares and dilutive securities to derive earnings per share.

(2) M&A related costs are estimated to be approximately $32 million for the full year 2026. The amount has been divided by our estimate of 52.2 million total shares and dilutive securities to derive earnings per share.

(3) Non-cash impairment charge related to acquired intangible assets is $33M in the second quarter of 2026. The amount has been divided by our estimate of 52.2 million total shares and dilutive securities to derive earnings per share.

(4) Acquisition related amortization and depreciation is expected to be approximately $167 million for the full year 2026. The amount has been divided by our estimate of 52.2 million total shares and dilutive securities to derive earnings per share.

(5) Impact on tax provision for 2026 tax provision on non-GAAP adjustments was calculated using a tax rate of approximately 24% based on an estimate of the tax rate of the country in which the non-GAAP adjustments are originating.

JBT MAREL CORPORATION

NON-GAAP FINANCIAL MEASURES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA GUIDANCE

(Unaudited and in millions)

Guidance

Full Year 2026

Net Income

$220 - $245

Income tax provision

68 - 77

Interest expense, net

~47

Other financing income (1)

~ (7)

Restructuring related costs (2)

~ 20

M&A related costs (3)

~ 32

Impairment of intangible assets

~ 33

Depreciation and amortization

~ 263

Adjusted EBITDA

$675 - $710

Revenue

$3,990 - $4,065

Net income margin

5.5% - 6.0%

Adjusted EBITDA margin

17.0% - 17.5%

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

JBT Marel (JBTM - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this food processing and transportation services company is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for JBT is 9.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 27.8% this year, crushing the industry average, which calls for EPS growth of 16%.

Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for JBT is 136.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of -6.2%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 24.8% over the past 3-5 years versus the industry average of 12.7%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for JBT have been revising upward. The Zacks Consensus Estimate for the current year has surged 10.1% over the past month.

Bottom LineJBT has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that JBT is a potential outperformer and a solid choice for growth investors.

JBT Marel Corporation (JBTM) Analyst/Investor Day Transcript

CHICAGO--(BUSINESS WIRE)--JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) announced today that it will report first quarter 2026 financial results on Monday, May 4, 2026, after the market closes. JBT Marel will host an earnings conference call on Tuesday, May 5, 2026, at 10:00 AM ET / 14:00 GMT. The conference call will be webcast and is accessible through this link: Webcast Registration. The webcast will also be available for replay shortly after the conference call ends. This informatio.

KANSAS CITY, Mo.--(BUSINESS WIRE)--Wenger and Extru-Tech, both global leaders in pet and human food extrusion processing solutions, will exhibit at Petfood Forum in Kansas City on April 27-29, 2026, at Booth #1614. This marks the first time both brands will come together in one booth for the industry's largest gathering of pet food professionals in North America. This union marks a new chapter as these trusted brands unite under JBT Marel to drive greater innovation and expand product offerings.

Wall Street expects a year-over-year increase in earnings on higher revenues when JBT Marel (JBTM - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 4. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis food processing and transportation services company is expected to post quarterly earnings of $1.49 per share in its upcoming report, which represents a year-over-year change of +53.6%.

Revenues are expected to be $929.07 million, up 8.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 3.74% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for JBT?For JBT, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.01%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination indicates that JBT will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that JBT would post earnings of $1.92 per share when it actually produced earnings of $1.98, delivering a surprise of +3.13%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

JBT appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Technology Services industry, Trane Technologies (TT - Free Report) , is soon expected to post earnings of $2.53 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +3.3%. Revenues for the quarter are expected to be $4.93 billion, up 5.1% from the year-ago quarter.

The consensus EPS estimate for Trane Technologies has remained unchanged over the last 30 days. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.49%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Trane Technologies will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

JBT Marel (JBTM - Free Report) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +6.40%. A quarter ago, it was expected that this food processing and transportation services company would post earnings of $1.92 per share when it actually produced earnings of $1.98, delivering a surprise of +3.13%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

JBT, which belongs to the Zacks Technology Services industry, posted revenues of $936 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.75%. This compares to year-ago revenues of $854.1 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

JBT shares have lost about 23.4% since the beginning of the year versus the S&P 500's gain of 5.6%.

What's Next for JBT?While JBT has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for JBT was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.99 on $993.6 million in revenues for the coming quarter and $8.19 on $4.03 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Bit Digital, Inc. (BTBT - Free Report) , has yet to report results for the quarter ended March 2026.

This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has been revised 33.3% higher over the last 30 days to the current level.

Bit Digital, Inc.'s revenues are expected to be $24.12 million, down 3.9% from the year-ago quarter.

-

CHICAGO--(BUSINESS WIRE)--JBT Marel, the global technology leader responsible for processing over 75% of the world’s citrus juice, is making its debut at the 2026 National Restaurant Association (NRA) Show from May 16-19. The centerpiece of this landmark debut is the Fresh’n Squeeze® 1800 Citrus Juicer, a recipient of the prestigious 2026 Kitchen Innovation Awards, showcasing how industrial-grade extraction technology has been reengineered for modern foodservice operators.

The company’s strategic expansion into the foodservice market aligns with a significant shift in consumer behavior; recent data indicates that 21% of global consumers have increased their juice consumption, prioritizing fresh-squeezed options for their functional health benefits. JBT Marel is uniquely positioned to meet this demand and serve the booming $100B+ global juice market directly.

“For decades, our technology has set the gold standard for the global juice industry. The Fresh’n Squeeze® 1800 puts the same power of our industrial-sized extractors onto the restaurant countertop,” said Megan Dyer, Director of Key Accounts and Beverage at JBT Marel. “Debuting this award-winning innovation at our first NRA Show marks an exciting new chapter as we continue to push the boundaries of what is possible in foodservice.”

The Fresh’n Squeeze® 1800 is a disruptor in the tabletop category, utilizing our proprietary Whole Fruit Extraction Principle. Unlike traditional cut-and-press machines, it instantly separates juice from bitter peels and seeds, ensuring a clean flavor profile with minimal oil content. It produces up to 50% more juice per fruit, yielding up to 10 quarts where competitors typically produce eight.

Paul Raybuck, the manager of Xtreme Juice in Tampa and Fresh’n Squeeze extraction customer, said “What really stands out is the yield Fresh’n Squeeze offers. If I can get 50% more juice out of a box of oranges, I’m multiplying my profits. It’s just been reliable for our operation, and any time we’ve needed support, the Fresh’n Squeeze team has been quick to step in.”

JBT Marel invites attendees and press to experience its fresh-squeezed juice at two locations:

Booth #1293 (Main Exhibit): Featuring live demonstrations and Happy Hour events on Saturday, May 16, and Monday, May 18, from 3–5 p.m. CT, where guests can enjoy cocktails crafted with fresh-squeezed juice. Booth #3798 (KI Showroom): Open daily from 9:30 a.m. – 5 p.m. for a deep dive into the 2026 Kitchen Innovation Award-winning technology. For more information on Fresh’n Squeeze® 1800, visit www.freshnsqueeze.com.

About JBT Marel

JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) is a leading global technology solutions provider to high-value segments of the food & beverage industry. JBT Marel’s unique solutions of integrated equipment, service, software, and application expertise enables customers to optimize food yield and efficiency, improve food safety and quality, and enhance uptime and proactive maintenance, all while reducing waste and resource use across the global food supply chain. JBT Marel operates more than 50 manufacturing and distribution facilities globally. For more information, please visit www.jbtmarel.com.

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CHICAGO--(BUSINESS WIRE)--The correction relates to the effective date of the share repurchase plan, which was changed from June 1, 2026, to May 18, 2026.

The updated release reads:

JBT MAREL CORPORATION DECLARES QUARTERLY DIVIDEND AND ANNOUNCES SHARE REPURCHASE PROGRAM

JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per share of outstanding common stock. The dividend will be payable on June 9, 2026, to stockholders of record at the close of business on May 26, 2026.

The Board of Directors also authorized a new share repurchase plan of up to $200 million of the Company’s common stock, effective May 18, 2026, through May 31, 2029. The manner, timing, price, and volume of the repurchases will be determined by the Company at its discretion, subject to market conditions, relevant securities laws, and other factors.

JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) is a leading global technology solutions provider to high-value segments of the food & beverage industry. JBT Marel’s unique solutions of integrated equipment, service, software, and application expertise enables customers to optimize food yield and efficiency, improve food safety and quality, and enhance uptime and proactive maintenance, all while reducing waste and resource use across the global food supply chain. JBT Marel operates more than 50 manufacturing and distribution facilities globally. For more information, please visit www.jbtmarel.com.