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

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

John Bean Technologies Price Performance

JBT stock traded down $3.19 on Thursday, reaching $95.19. 455,450 shares of the company’s stock were exchanged, compared to its average volume of 263,075. The stock has a fifty day moving average of $95.98 and a 200-day moving average of $97.10. The firm has a market cap of $3.03 billion, a PE ratio of 5.13, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a quick ratio of 1.83, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. John Bean Technologies has a twelve month low of $88.03 and a twelve month high of $120.20.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.42%. The ex-dividend date was Wednesday, May 22nd. John Bean Technologies’s payout ratio is 2.13%.

Wall Street Analysts Forecast Growth

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

About John Bean Technologies

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