Track market-moving stories before they get noisy

Coca-Cola Europacific Partners PLC (CCEP) Q1 2026 Sales/Trading 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, will host an Investor Day in New York City today, Thursday, March 26, 2026, beginning at 9:00 AM ET / 1:00 PM GMT. The event is expected to conclude at approximately 12:15 PM ET / 4:15 PM GMT.

JBT Marel’s Chief Executive Officer, Brian Deck, and other members of the executive leadership team will present a detailed overview of the Company’s strategic priorities, key growth initiatives, and 2028 financial targets.

The event will be livestreamed, and a replay of the event will be available within 24 hours following the event’s conclusion through this website: https://jbtminvestorday2026.com/. Presentation materials will also be available today on the JBT Marel Investor Relations website at https://ir.jbtmarel.com/events/presentations.

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

On April 15, 2026, JB Hunt Transport Services Inc (JBHT) released its 8-K filing reporting first-quarter 2026 results. The company posted U.S. GAAP revenue of $

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? JBT Marel (JBTM - Free Report) , which belongs to the Zacks Technology Services industry, could be a great candidate to consider.

This food processing and transportation services company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 15.80%.

For the most recent quarter, JBT was expected to post earnings of $1.92 per share, but it reported $1.98 per share instead, representing a surprise of 3.13%. For the previous quarter, the consensus estimate was $1.51 per share, while it actually produced $1.94 per share, a surprise of 28.48%.

Price and EPS Surprise

For JBT, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. 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.

JBT has an Earnings ESP of +1.01% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on May 4, 2026.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

JBT Marel Corporation is upgraded from 'hold' to a soft 'buy' based on ambitious growth and cost-saving targets. JBTM expects organic revenue growth of 5–7% annually through 2028, targeting $4.52 billion in sales and 20% EBITDA margins. Management projects $150 million in annual cost savings by the end of next year, with additional revenue and operational synergies supporting margin expansion.

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 first quarter of 2026.

"We started 2026 on a positive note, marking the second consecutive quarter with inbound orders above $1 billion," said Brian Deck, Chief Executive Officer. "Our orders reflected strong demand across our Prepared Food and Beverage Solutions and Protein Solutions segments."

"During the first quarter, we hosted our 2026 Investor Day," continued Deck. "We introduced our NextGen strategy, which further elevates our value proposition by advancing our customer-centric service model, enhancing our full-line product offering with targeted innovation, expanding commercial opportunities through cross-selling, and harnessing our continuous improvement culture to reduce complexity and achieve sustainable margin expansion."

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 First Quarter 2026 Consolidated Results

"We achieved meaningful year-over-year operational performance as we continued the margin expansion journey outlined in our strategy," said Matt Meister, Executive Vice President and Chief Financial Officer. "Additionally, we generated quarterly free cash flow of $100 million, enabling us to further deleverage our balance sheet."

First quarter 2026 consolidated revenue of $936 million increased 10 percent with approximately 6 percent benefit from foreign exchange translation. The foreign exchange benefit was largely as expected. Net income of $45 million improved $218 million, and net income margin was 4.8 percent. The improvement in net income was primarily driven by lower non-recurring and transaction related costs as well as margin enhancement efforts and lower interest expense.

First quarter 2026 consolidated adjusted EBITDA of $142 million improved $30 million, and adjusted EBITDA margin was 15.2 percent. Diluted earnings per share (EPS) was $0.86 compared to a loss per share of $3.35. Adjusted EPS was $1.58 compared to $0.97. Orders totaled $1.07 billion, inclusive of approximately $60 million in a year-over-year benefit from foreign exchange translation, and quarter-ending backlog was $1.49 billion.

First quarter 2026 operating cash flow was $119 million, and free cash flow was $100 million. As of March 31, 2026, the Company's net debt to trailing twelve months adjusted EBITDA was 2.6x.

JBT Marel First Quarter 2026 Segment Results

Three Months Ended March 31, 2026

In millions except margin

Protein Solutions

Prepared Food and
Beverage Solutions

Segment revenue

$

460

$

476

Segment adjusted EBITDA

$

100

$

70

Segment adjusted EBITDA margin

21.7 %

14.7 %

First quarter 2026 Protein Solutions segment revenue increased 22 percent, inclusive of approximately 8 percent year-over-year benefit from foreign exchange translation. Segment adjusted EBITDA margin improved more than 500 basis points, benefiting from higher poultry volume and continued improvement in the meat and fish businesses.

First quarter 2026 Prepared Food and Beverage Solutions segment revenue was flat, inclusive of approximately 4 percent year-over-year benefit from foreign exchange translation. Segment adjusted EBITDA margin declined 170 basis points, which was impacted, as expected, by higher tariff costs, lower volume from the CPG end market, and operational challenges in the warehouse automation business.

JBT Marel Outlook

JBT Marel is reiterating its full year 2026 guidance, and the below table reflects consolidated guidance.

Guidance

In millions except EPS and margin

FY 2026

Revenue

$3,990 - $4,065

Net income margin

6.1% - 6.6%

Adjusted EBITDA margin(1)

17.0% - 17.5%

GAAP diluted EPS

$4.70 - $5.15

Adjusted EPS(1)

$8.00 - $8.50

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

For the full year 2026, given the continued demand strength experienced in the first quarter 2026, JBT Marel still expects year-over-year consolidated revenue growth of 5 - 7 percent, which is inclusive of approximately 1 percent foreign exchange translation benefit.

From a tariff perspective, while there are several moving components, the Company expects the impact of recent tariff policy changes to be in-line with the previously disclosed full year 2026 estimated net impact of 25 to 50 basis points, which is inclusive of all mitigation efforts.

The Company remains on-track to achieve an estimated $60 million in realized synergy cost savings for the full year 2026.

For the full year 2026, JBT Marel expects to incur certain one-time and acquisition related costs from the Marel transaction, 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 $178 million in acquisition related amortization and depreciation, $20 million in M&A related costs, and $30 million in restructuring costs.

Full year 2026 total depreciation and amortization is expected to be approximately $268 million. Interest expense is estimated to be approximately $50 million, and other financing income related to cross currency swaps on the Term Loan B is expected to be approximately $10 million. The full year tax rate is anticipated to be 23 - 24 percent.

Earnings Conference Call

A conference call is scheduled for 10:00 a.m. ET / 14:00 GMT on Tuesday, May 5, 2026, to discuss first 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 JBT Marel 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 in 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 March 31,

2026

2025

Revenue

$

936

$

854

Cost of sales

607

562

Gross profit

329

292

Gross profit margin

35.1 %

34.2 %

Selling, general and administrative expense

261

325

Operating income (loss)

68

(33)

Operating income margin

7.3 %

(4.0) %

Pension expense, other than service cost

—

147

Interest expense, net

10

41

Other (income)

(2)

(2)

Income (loss) before income taxes

60

(219)

Income tax provision (benefit)

15

(46)

Net income (loss)

$

45

$

(173)

Earnings (loss) per share:

Basic

$

0.86

$

(3.35)

Diluted

$

0.86

$

(3.35)

Weighted average shares outstanding:

Basic

52.2

51.7

Diluted

52.4

51.7

Other business information from operations:

Inbound orders

$

1,070

$

916

Orders backlog

$

1,490

$

1,311

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 March 31,

2026

2025

Net income (loss)

$

45

$

(173)

Non-GAAP adjustments

Restructuring related costs, net (1)

(2)

11

M&A related costs (2)

8

74

Amortization of bridge financing debt issuance cost

—

12

Acquisition related amortization and depreciation

45

42

Impact on tax provision from Non-GAAP adjustments (3)

(13)

(31)

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

$

83

$

50

Net income (loss)

$

45

$

(173)

Total shares and dilutive securities

52.4

51.7

Diluted earnings (loss) per share

$

0.86

$

(3.35)

Adjusted income

$

83

$

50

Total shares and dilutive securities

52.4

51.7

Adjusted diluted earnings per share

$

1.58

$

0.97

(1) Costs incurred as a direct result of the restructuring program are excluded because they are not part of the ongoing operations of our underlying business and primarily consist of severance and related costs.

(2) M&A related costs for the three months ended March 31, 2026, include advisory, strategy and integration related costs for completed M&A transactions.

(3) 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 March 31,

2026

2025

Net income (loss)

$

45

$

(173)

Income tax provision (benefit)

15

(46)

Interest expense, net

10

41

Other financing (income) (1)

(2)

(2)

Pension expense, other than service cost (2)

—

147

Restructuring and related costs, net (3)

(2)

10

M&A related costs (4)

8

74

Depreciation and amortization (5)

68

61

Adjusted EBITDA

$

142

$

112

Total revenue

$

936

$

854

Net income (loss) margin

4.8 %

(20.3) %

Adjusted EBITDA margin

15.2 %

13.1 %

(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 our cost of borrowing on this debt.

(2) 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.

(3) Costs incurred as a direct result of the restructuring program are excluded because they are not part of the ongoing operations of our underlying business and primarily consist of severance and related costs.

(4) M&A related costs for the three months ended March 31, 2026, include advisory, strategy and integration related costs for completed M&A transactions.

(5) Depreciation and amortization, including the 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 March 31, 2026

(In millions)

Protein
Solutions

Prepared Food
and Beverage
Solutions

Total

Revenue

$

460

$

476

Less:

Cost of sales

289

318

Research and development

11

7

Other segment items (1)

94

112

Add:

Depreciation and amortization

34

31

Segment Adjusted EBITDA

$

100

$

70

$

170

Less:

Interest expense, net

10

Other (income)

(2)

Restructuring related costs

(2)

M&A related costs

8

Depreciation and amortization

68

Unallocated amounts:

Corporate expense (2)

28

Income before income taxes

$

60

(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)

Three Months Ended March 31, 2025

(In millions)

Protein
Solutions

Prepared Food
and Beverage
Solutions

Total

Revenue

$

378

$

476

Less:

Cost of sales

247

314

Research and development

20

10

Other segment items (1)

76

101

Add:

Depreciation and amortization

28

27

Segment Adjusted EBITDA

$

63

$

78

$

141

Less:

Interest expense, net

41

Other (income)

(2)

Pension expense, other than service cost

147

Restructuring related costs

11

M&A related costs

74

Depreciation and amortization

61

Unallocated amounts:

Corporate expense (2)

28

Loss before income taxes

$

(219)

(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)

March 31, 2026

December 31, 2025

Assets

Cash and cash equivalents

$

211

$

168

Restricted cash

19

19

Trade receivables, net of allowances

438

443

Contract assets

142

119

Inventories

667

644

Other current assets

198

190

Total current assets

1,675

1,583

Property, plant and equipment, net

779

793

Goodwill

3,393

3,428

Intangible assets, net

2,052

2,122

Other assets

264

265

Total Assets

$

8,163

$

8,191

Liabilities and Stockholders' Equity

Short-term debt

$

411

$

412

Accounts payable, trade and other

294

262

Advance and progress payments

561

518

Accrued payroll

154

170

Other current liabilities

237

260

Total current liabilities

1,657

1,622

Long-term debt, less current portion

1,432

1,470

Deferred tax liabilities

379

383

Other liabilities

212

252

Common stock and additional paid-in capital

2,716

2,718

Retained earnings

1,505

1,465

Accumulated other comprehensive income

262

281

Total stockholders' equity

4,483

4,464

Total liabilities and stockholders' equity

$

8,163

$

8,191

JBT MAREL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited and in millions)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net income (loss)

$

45

$

(173)

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

Depreciation and amortization

68

61

Stock-based compensation

7

5

Other, net

4

174

Changes in operating assets and liabilities

Trade accounts receivable, net

(21)

18

Inventories

(27)

(13)

Accounts payable, trade and other

38

21

Advance and progress payments

50

32

Other assets and liabilities, net

(45)

(91)

Cash provided by operating activities

119

34

Cash flows from investing activities:

Acquisitions, net of cash acquired

—

(1,746)

Capital expenditures

(26)

(20)

Proceeds from disposal of assets

7

1

Other

—

(1)

Cash required by investing activities

(19)

(1,766)

Cash flows from financing activities

Net repayments of domestic credit facilities, net of debt issuance costs

(38)

(195)

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

(2)

898

Settlement of deal contingent hedge

—

(43)

Dividends

(5)

(5)

Other, net

(9)

(34)

Cash (required) provided by financing activities

(54)

621

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

46

(1,111)

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

(3)

2

Net (decrease) increase in cash and cash equivalents

$

43

$

(1,109)

Cash and cash equivalents from operations, beginning of period

187

1,228

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

43

(1,109)

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

$

230

$

119

JBT MAREL CORPORATION

NON-GAAP FINANCIAL MEASURES

FREE CASH FLOW

(Unaudited and in millions)

Three Months Ended March 31,

2026

2025

Cash provided by operating activities

$

119

$

34

Less: capital expenditures

26

20

Plus: proceeds from disposal of assets

7

1

Plus: pension contributions

—

3

Free cash flow (FCF)

$

100

$

18

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

Q1 2026

Q4 2025

Q1 2025

Prior Year-
End

Prior Year

Total debt

$

1,843

$

1,882

$

1,988

$

(39)

$

(145)

Less: cash and marketable securities

211

168

101

43

110

Net debt

$

1,632

$

1,714

$

1,887

$

(82)

$

(255)

JBT MAREL CORPORATION

BANK TOTAL NET LEVERAGE RATIO CALCULATION

(Unaudited and in millions)

Q1 2026

Total debt

$

1,843

Less: cash and marketable securities

211

Net debt

1,632

Other items considered debt under the credit agreement

47

Consolidated total indebtedness(1)

$

1,679

Trailing twelve months adjusted EBITDA

630

Other adjustments net to earnings under the credit agreement

53

Consolidated EBITDA(1)

$

683

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

2.5

Total net debt to trailing twelve months adjusted EBITDA

2.6

(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

$4.70 - $5.15

Non-GAAP adjustments:

Restructuring related costs(1)

~ 0.57

M&A related costs(2)

~ 0.38

Acquisition related amortization and depreciation(3)

~ 3.40

Impact on tax provision from Non-GAAP adjustments(4)

~ (1.02)

Adjusted diluted earnings per share

$8.00 - $8.50

(1) Restructuring related costs are estimated to be approximately $30 million for the full year 2026. The amount has been divided by our estimate of 52.4 million total shares and dilutive securities to derive earnings per share.

(2) M&A related costs are estimated to be approximately $20 million for the full year 2026. The amount has been divided by our estimate of 52.4 million total shares and dilutive securities to derive earnings per share.

(3) Acquisition related amortization and depreciation is expected to be approximately $178 million for the full year 2026. The amount has been divided by our estimate of 52.4 million total shares and dilutive securities to derive earnings per share.

(4) Impact on tax provision for 2026 tax provision on non-GAAP adjustments was calculated using a tax rate of approximately 23-24% based on a 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

$245 - $270

Income tax provision

75 - 83

Interest expense, net

~50

Other financing income (1)

~ (10)

Restructuring related costs (2)

~ 30

M&A related costs (3)

~ 20

Depreciation and amortization

~ 268

Adjusted EBITDA

$675 - $710

Revenue

$3,990 - $4,065

Net income margin

6.1% - 6.6%

Adjusted EBITDA margin

17.0% - 17.5%

(1) Other financing income is estimated to be approximately $10 million for the full year 2026.

(2) Restructuring related costs are estimated to be approximately $30 million for the full year 2026. The amount has been divided by our estimate of 52.4 million total shares and dilutive securities to derive earnings per share.

(3) M&A related costs are estimated to be approximately $20 million for the full year 2026. The amount has been divided by our estimate of 52.4 million total shares and dilutive securities to derive earnings per share.

JBT Marel Corporation (JBTM) Q1 2026 Earnings Call Transcript

Shares of JBT Marel (JBTM - Free Report) have gained 4.8% over the past four weeks to close the last trading session at $136.52, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $180 indicates a potential upside of 31.9%.

The average comprises four short-term price targets ranging from a low of $118.00 to a high of $210.00, with a standard deviation of $42.14. While the lowest estimate indicates a decline of 13.6% from the current price level, the most optimistic estimate points to a 53.8% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

But, for JBTM, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Here's Why There Could be Plenty of Upside Left in JBTMThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The Zacks Consensus Estimate for the current year has increased 0.3% over the past month, as one estimate has gone higher compared to no negative revision.

Moreover, JBTM currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much JBTM could gain, the direction of price movement it implies does appear to be a good guide.

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.

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, the task of finding cutting-edge growth stocks is made easy 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.

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

Studies have shown that stocks with the best growth features consistently outperform 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. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as 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 28.2% this year, crushing the industry average, which calls for EPS growth of 22.4%.

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 -7.3%.

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 10.7%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus 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 0.3% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made JBT a Zacks Rank #2 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.

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

This combination positions JBT well for outperformance, so growth investors may want to bet on it.

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 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 June 1, 2026, through May 31, 2029. The manner,.

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.

While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.

New Jersey Resources (NJR - Free Report) is headquartered in Wall, and is in the Utilities sector. The stock has seen a price change of 21.38% since the start of the year. Currently paying a dividend of $0.47 per share, the company has a dividend yield of 3.39%. In comparison, the Utility - Gas Distribution industry's yield is 2.78%, while the S&P 500's yield is 1.38%.

Looking at dividend growth, the company's current annualized dividend of $1.90 is up 4.1% from last year. Over the last 5 years, New Jersey Resources has increased its dividend 5 times on a year-over-year basis for an average annual increase of 7.51%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. New Jersey Resources's current payout ratio is 60%, meaning it paid out 60% of its trailing 12-month EPS as dividend.

NJR is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $3.31 per share, representing a year-over-year earnings growth rate of 1.22%.

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.

High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that NJR is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy).

-

WALL, N.J.--(BUSINESS WIRE)--The board of directors (the “Board”) of New Jersey Resources Corporation (NYSE: NJR) unanimously declared a quarterly dividend on its common stock of $0.475 per share. The dividend will be payable on July 1, 2026, to shareowners of record as of June 10, 2026.

NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 30 years.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a diversified energy infrastructure and energy services company headquartered in Wall, New Jersey.

NJR is composed of five primary businesses:

New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains natural gas transportation and distribution infrastructure to serve customers in New Jersey’s Monmouth, Ocean, Morris, Middlesex, Sussex and Burlington counties. NJR Clean Energy Ventures invests in, owns and operates solar projects, providing customers with low-carbon solutions. NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America. Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River and the Adelphia Gateway Pipeline, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility. Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators and other indoor and outdoor comfort products to residential homes throughout New Jersey. NJR and its over 1,300 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as SAVEGREEN®.

For more information about NJR:
www.njresources.com.

Follow us on X.com (Twitter) @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.

More News From New Jersey Resources Corporation

Back to Newsroom

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider New Jersey Resources (NJR - Free Report) . This company, which is in the Zacks Utility - Gas Distribution industry, shows potential for another earnings beat.

When looking at the last two reports, this energy services holding company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 14.91%, on average, in the last two quarters.

For the most recent quarter, New Jersey Resources was expected to post earnings of $0.95 per share, but it reported $1.17 per share instead, representing a surprise of 23.16%. For the previous quarter, the consensus estimate was $0.15 per share, while it actually produced $0.16 per share, a surprise of 6.67%.

Price and EPS Surprise

For New Jersey Resources, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. 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.

New Jersey Resources has an Earnings ESP of +18.49% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on May 4, 2026.

With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Companhia Paranaense de Energia - Copel Unsponsored ADR (ELPC - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.

Companhia Paranaense de Energia - Copel Unsponsored ADR is one of 110 companies in the Utilities group. The Utilities group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Companhia Paranaense de Energia - Copel Unsponsored ADR is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ELPC's full-year earnings has moved 215% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, ELPC has moved about 31.1% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 8.8% on average. This means that Companhia Paranaense de Energia - Copel Unsponsored ADR is performing better than its sector in terms of year-to-date returns.

New Jersey Resources (NJR - Free Report) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.1%.

For New Jersey Resources, the consensus EPS estimate for the current year has increased 7.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Companhia Paranaense de Energia - Copel Unsponsored ADR belongs to the Utility - Electric Power industry, a group that includes 60 individual companies and currently sits at #90 in the Zacks Industry Rank. This group has gained an average of 9.7% so far this year, so ELPC is performing better in this area.

In contrast, New Jersey Resources falls under the Utility - Gas Distribution industry. Currently, this industry has 13 stocks and is ranked #63. Since the beginning of the year, the industry has moved +7.9%.

Investors with an interest in Utilities stocks should continue to track Companhia Paranaense de Energia - Copel Unsponsored ADR and New Jersey Resources. These stocks will be looking to continue their solid performance.

NEW YORK--(BUSINESS WIRE)--Metropolitan Commercial Bank (“MCB” or the “Bank”) today announced that Brian Turano and Tom Kasper have joined the Bank to lead its Government Banking efforts in New Jersey, further expanding MCB’s ability to serve municipalities and public entities across the state.

“Brian and Tom know this market well and have built strong relationships over many years,” said Laura Capra, Executive Vice President and Head of Retail Banking at Metropolitan Commercial Bank.

Share Mr. Turano joins as Senior Vice President and Director of Government Banking – New Jersey, and Mr. Kasper joins as Vice President and Relationship Manager for Government Banking – New Jersey. In these roles, they will work closely with municipalities to build relationships, deliver tailored financial solutions, and support day-to-day banking operations.

MCB’s Government Banking platform provides customized deposit and treasury management solutions designed to help public sector clients manage funds efficiently and meet both near- and long-term goals.

Mr. Turano brings more than 25 years of banking experience, most recently serving in a senior government banking role at Citizens Bank. Prior to that, he spent 16 years at Investors Bank, where he focused on building and managing municipal relationships throughout New Jersey.

“I’m excited to join MCB and help grow the Government Banking business in New Jersey,” said Mr. Turano. “There’s a real opportunity to provide responsive, relationship-focused service to municipalities across the state.”

Mr. Kasper brings more than 35 years of experience across retail banking, treasury management, and relationship management, with the past several years focused on government clients. His career includes roles at Citizens Bank, Investors Bank, Peapack-Gladstone Bank, Lakeland Bank, and Unity Bank. He is also active in the community, serving in leadership roles with several New Jersey nonprofit organizations.

“What stood out to me about MCB is its hands-on, client-focused approach,” said Mr. Kasper. “I’m looking forward to getting into the market, building relationships, and helping clients navigate their day-to-day banking needs.”

“Brian and Tom know this market well and have built strong relationships over many years,” said Laura Capra, Executive Vice President and Head of Retail Banking at Metropolitan Commercial Bank. “They bring a practical understanding of what municipalities need and will help us continue building our Government Banking platform in New Jersey.”

About Metropolitan Commercial Bank
Metropolitan Commercial Bank (“MCB”) is a New York City–based, full-service commercial bank serving businesses, institutions, and individuals who value expertise, responsiveness, and long-term partnerships. Since 1999, MCB has built enduring client relationships—many spanning generations—by delivering consistent, relationship-driven banking.

The Bank provides a full suite of commercial, business, and personal banking solutions, with deep expertise in sectors including real estate, property management, legal services, healthcare, government, and global investors utilizing EB-5 financial solutions. MCB combines specialized capabilities with a highly personalized approach, offering integrated solutions such as title and escrow services, 1031 exchanges, and merchant acquiring.

MCB has received national recognition for its performance and innovation, including being named one of Newsweek’s Best Regional Banks in 2024 and 2025 and earning industry recognition for its lending performance and specialized commercial banking capabilities.

MCB operates full-service banking centers in Manhattan and Boro Park, Brooklyn, within New York City; Great Neck on Long Island; Lakewood, New Jersey; and in South Florida, including Miami, with a West Palm Beach location expected to open in June 2026. This expansion reflects the Bank’s continued growth and commitment to the communities and clients it serves—many of whom it has supported for generations.

Metropolitan Commercial Bank is a New York State–chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The Bank’s parent company is Metropolitan Bank Holding Corp. (NYSE: MCB).

For more information, please visit the Bank’s website at MCBankNY.com.

New Jersey Resources (NJR - Free Report) came out with quarterly earnings of $2.2 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $1.76 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +16.40%. A quarter ago, it was expected that this energy services holding company would post earnings of $0.95 per share when it actually produced earnings of $1.17, delivering a surprise of +23.16%.

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

New Jersey Resources, which belongs to the Zacks Utility - Gas Distribution industry, posted revenues of $939.4 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 10.55%. This compares to year-ago revenues of $913.03 million. The company has topped consensus revenue estimates three 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.

New Jersey Resources shares have added about 21.4% since the beginning of the year versus the S&P 500's gain of 5.6%.

What's Next for New Jersey Resources?While New Jersey Resources has outperformed 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 New Jersey Resources was favorable. 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 #2 (Buy) for the stock. So, the shares are expected to outperform 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 $0.18 on $327.3 million in revenues for the coming quarter and $3.39 on $2.29 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, Utility - Gas Distribution is currently in the top 27% 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.

One other stock from the same industry, Spire (SR - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.

This natural gas distributor is expected to post quarterly earnings of $3.78 per share in its upcoming report, which represents a year-over-year change of +5%. The consensus EPS estimate for the quarter has been revised 61.4% lower over the last 30 days to the current level.

Spire's revenues are expected to be $1.08 billion, up 2.3% from the year-ago quarter.

New Jersey Resources is executing a clean energy pivot, allocating over 60% of $4.8–$5.2 billion CapEx through FY2030 to solar-focused Clean Energy Ventures. NJR delivered strong winter-driven Q2 results, beating non-GAAP EPS by $0.30 and revenue by nearly 10%, and raised full-year non-GAAP EPS guidance to $3.48–$3.62. Despite robust operating cash flow growth, NJR's high CapEx outpaces cash generation, requiring increased debt while targeting a 20% adjusted debt-to-capital ratio.

A strong stock as of late has been New Jersey Resources (NJR - Free Report) . Shares have been marching higher, with the stock up 3.3% over the past month. The stock hit a new 52-week high of $57.91 in the previous session. New Jersey Resources has gained 25.3% since the start of the year compared to the 6.9% move for the Zacks Utilities sector and the 5.8% return for the Zacks Utility - Gas Distribution industry.

What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on May 4, 2026, New Jersey Resources reported EPS of $2.2 versus consensus estimate of $1.89.

For the current fiscal year, New Jersey Resources is expected to post earnings of $3.45 per share on $2.21 in revenues. This represents a 5.5% change in EPS on a 8.54% change in revenues. For the next fiscal year, the company is expected to earn $3.47 per share on $2.36 in revenues. This represents a year-over-year change of 0.65% and 6.56%, respectively.

Valuation MetricsWhile New Jersey Resources has moved to its 52-week high over the past few weeks, investors need to be asking, what is next for the company? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.

On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.

New Jersey Resources has a Value Score of B. The stock's Growth and Momentum Scores are B and B, respectively, giving the company a VGM Score of B.

In terms of its value breakdown, the stock currently trades at 16.8X current fiscal year EPS estimates, which is not in-line with the peer industry average of 17.6X. On a trailing cash flow basis, the stock currently trades at 11.2X versus its peer group's average of 9.4X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.

Zacks RankWe also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, New Jersey Resources currently has a Zacks Rank of #2 (Buy) thanks to a solid earnings estimate revision trend.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if New Jersey Resources fits the bill. Thus, it seems as though New Jersey Resources shares could have potential in the weeks and months to come.

The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. New Jersey Resources (NJR - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

New Jersey Resources is a member of our Utilities group, which includes 110 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. New Jersey Resources is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for NJR's full-year earnings has moved 4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, NJR has gained about 24.9% so far this year. In comparison, Utilities companies have returned an average of 4.8%. This means that New Jersey Resources is outperforming the sector as a whole this year.

One other Utilities stock that has outperformed the sector so far this year is Sabesp (SBS - Free Report) . The stock is up 22.6% year-to-date.

The consensus estimate for Sabesp's current year EPS has increased 322.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, New Jersey Resources belongs to the Utility - Gas Distribution industry, which includes 13 individual stocks and currently sits at #180 in the Zacks Industry Rank. Stocks in this group have gained about 5.3% so far this year, so NJR is performing better this group in terms of year-to-date returns.

On the other hand, Sabesp belongs to the Utility - Water Supply industry. This 11-stock industry is currently ranked #185. The industry has moved +3.7% year to date.

New Jersey Resources and Sabesp could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.

WALL, N.J.--(BUSINESS WIRE)--New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources (NYSE: NJR), today announced it has submitted filings to the New Jersey Board of Public Utilities (NJBPU) that, taken together, provide customers with a 8.9% reduction in customer bills in advance of the 2026-2027 winter season – a $158 annual savings for the average residential customer – and rate stability while seeking recovery for investments in the continued delivery of safe, reliab.

Posted by Defense World Staff on Apr 27th, 2026

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $685.3077.

Several brokerages have commented on MDGL. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. Citigroup reissued an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. Zacks Research upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Bank of America dropped their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th.

View Our Latest Research Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Stock Performance NASDAQ:MDGL opened at $512.39 on Monday. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. Madrigal Pharmaceuticals has a 52 week low of $265.00 and a 52 week high of $615.00. The firm has a market capitalization of $11.75 billion, a P/E ratio of -39.81 and a beta of -1.00. The company has a fifty day moving average of $479.28 and a 200 day moving average of $502.84.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company had revenue of $321.08 million during the quarter, compared to analysts’ expectations of $310.36 million. During the same period in the prior year, the business posted ($2.71) earnings per share. The company’s revenue for the quarter was up 210.8% on a year-over-year basis. On average, research analysts predict that Madrigal Pharmaceuticals will post -5.22 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 360 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $155,498.40. Following the completion of the transaction, the general counsel owned 12,138 shares of the company’s stock, valued at approximately $5,242,887.72. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William John Sibold sold 1,663 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $718,316.22. Following the completion of the sale, the chief executive officer directly owned 161,829 shares in the company, valued at $69,900,418.26. This represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 6,098 shares of company stock valued at $2,626,254. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals A number of hedge funds and other institutional investors have recently bought and sold shares of MDGL. Flagship Harbor Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $29,000. Aventura Private Wealth LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $36,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $39,000. Mather Group LLC. bought a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC increased its position in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile (Get Free Report)

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

See Also Five stocks we like better than Madrigal Pharmaceuticals

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINECritical Survey: Soho China (OTCMKTS:SOHOF) and Transcontinental Realty Investors (NYSE:TCI)

NEXT HEADLINE »Fox Factory Holding Corp. (NASDAQ:FOXF) Receives Average Recommendation of “Hold” from Analysts

The market expects Crinetics Pharmaceuticals, Inc. (CRNX - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence 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 7. On the other hand, if they miss, the stock may move lower.

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

Zacks Consensus EstimateThis company is expected to post quarterly loss of $1.22 per share in its upcoming report, which represents a year-over-year change of -17.3%.

Revenues are expected to be $7.55 million, up 1997.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.73% lower 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 CRINETICS PHARM?For CRINETICS PHARM, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -9.02%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that CRINETICS PHARM will 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 CRINETICS PHARM would post a loss of$1.37 per share when it actually produced a loss of -$1.29, delivering a surprise of +5.84%.

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

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.

CRINETICS PHARM doesn't appear 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 Medical - Drugs industry, Madrigal (MDGL - Free Report) , is soon expected to post loss of $3.28 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +1.2%. Revenues for the quarter are expected to be $301.15 million, up 119.4% from the year-ago quarter.

The consensus EPS estimate for Madrigal has been revised 2% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +61.01%.

When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Madrigal will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

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

PASADENA, Calif.--(BUSINESS WIRE)---- $arwr--Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced an exclusive worldwide license agreement with Madrigal Pharmaceuticals (NASDAQ: MDGL) for ARO-PNPLA3, Arrowhead's clinical stage RNA interference (RNAi) therapeutic designed to reduce liver expression of patatin-like phospholipase domain containing 3 (PNPLA3) as a potential treatment for patients with metabolic dysfunction-associated steatohepatitis (MASH). “The early clinical data for ARO-PNPLA3 h.

CONSHOHOCKEN, Pa., May 06, 2026 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today reports first-quarter 2026 financial results and provides corporate updates.

Madrigal Pharmaceuticals, Inc. (MDGL) Q1 2026 Earnings Call Transcript