Top-News
Montag,
23.10.2017 22:20
von
PR Newswire
| Aufrufe: 61
JBT Corporation Delivers Strong Revenue, Earnings and Order Gains in the Third Quarter 2017
Eine Frau in einem Schreibwarenladen (Symbolbild).
© JackF / iStock / Getty Images Plus / Getty Images
PR Newswire
CHICAGO, Oct. 23, 2017
CHICAGO, Oct. 23, 2017 /PRNewswire/ --
Third-Quarter 2017 Highlights:
- Revenue of $421 million, up 20 percent from prior year period
- Operating income of $42.2 million, an increase of 43 percent
- Total segment operating profit of $53.2 million, an increase of 32 percent
- Diluted earnings per share from continuing operations of $0.82, compared with $0.69 in the third quarter of 2016
- Inbound orders of $440 million, ahead 27 percent with a record backlog
- Refines full-year 2017 earnings per share guidance to $3.00 - $3.10
JBT Corporation (NYSE: JBT), a leading global technology solutions provider to high-value segments of the food & beverage industry, today reported results for the third quarter of 2017.
Revenue increased 20 percent from the same period in 2016, comprised of 5 percent organic growth and 15 percent growth from acquisitions. Operating income expanded 43 percent year over year with a 160 basis point improvement in operating margins. Total segment operating profit increased 32 percent year over year with a 110 basis point gain in segment operating profit margins.
Diluted earnings per share from continuing operations was $0.82 for the third quarter of 2017 compared to $0.69 in the third quarter of 2016.
"Our third quarter performance was characterized by double-digit revenue and earnings gains, margin expansion, and continued order strength," said Tom Giacomini, Chairman, President and Chief Executive Officer. "Market conditions remained robust across FoodTech and AeroTech and we executed well."
Orders and Backlog
For the third quarter of 2017, inbound orders of $440 million increased 27 percent from the prior year, reflecting a gain of 22 percent at FoodTech and a 38 percent increase at AeroTech. Backlog improved 23 percent from the year-ago period.
2017 Outlook
"JBT's strong third quarter performance reinforces our confidence in the full-year guidance," said Brian Deck, JBT's Executive Vice President and Chief Financial Officer. "For full-year 2017, we raised the bottom end of our guidance and currently anticipate earnings per share of $3.00 - $3.10."
Third Quarter 2017 Earnings Conference Call
A conference call is scheduled for 10:00 a.m. EDT on Tuesday, October 24, 2017 to discuss third quarter 2017 financial results. Participants may access the conference call by dialing (833) 238-7952 in the U.S. and Canada or (647) 689-4200 for international callers and using conference ID 95708090, or through the Investor Relations link on our website at http://ir.jbtcorporation.com. An online audio replay of the call will be available on the Company's Investor Relations website at approximately 1:30 p.m. EDT on October 24, 2017.
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 5,700 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries. For more information, please visit www.jbtc.com.
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 the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
| JBT CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| (Unaudited and in millions, except per share data) | |||||||||||||||
| | | | | | | | | ||||||||
| | | | | | | | | ||||||||
| | Three Months Ended | | Nine Months Ended | ||||||||||||
| | September 30, | | September 30, | ||||||||||||
| | 2017 | | 2016 | | 2017 | | 2016 | ||||||||
| | | | | | | | | ||||||||
| Revenue | $ | 420.8 | | | $ | 349.6 | | | $ | 1,151.4 | | | $ | 945.5 | |
| Cost of sales | 299.3 | | | 255.5 | | | 817.5 | | | 678.8 | | ||||
| | | | | | | | | ||||||||
| Gross profit | 121.5 | | | 94.1 | | | 333.9 | | | 266.7 | | ||||
| Gross profit % | 28.9 | % | | 26.9 | % | | 29.0 | % | | 28.2 | % | ||||
| | | | | | | | | ||||||||
| Selling, general and administrative expense | 73.7 | | | 56.5 | | | 221.2 | | | 168.4 | | ||||
| Research and development expense | 6.9 | | | 6.3 | | | 19.6 | | | 17.7 | | ||||
| Restructuring expense | 0.3 | | | 0.3 | | | 1.3 | | | 9.4 | | ||||
| Other (income) expense, net | (1.6) | | | 1.5 | | | (0.6) | | | 2.1 | | ||||
| | | | | | | | | ||||||||
| Operating income | 42.2 | | | 29.5 | | | 92.4 | | | 69.1 | | ||||
| Operating income % | 10.0 | % | | 8.4 | % | | 8.0 | % | | 7.3 | % | ||||
| | | | | | | | | ||||||||
| Net interest expense | 3.6 | | | 2.8 | | | 10.3 | | | 7.0 | | ||||
| Income from continuing operations before income taxes | 38.6 | | | 26.7 | | | 82.1 | | | 62.1 Werbung Mehr Nachrichten zur John Bean Technologies Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | |||||
