John Bean Technologies (NYSE:JBT) Releases Earnings Results, Beats Expectations By $0.09 EPS

John Bean Technologies (NYSE:JBT) issued its earnings results on Tuesday. The industrial products company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. The firm had revenue of $453.80 million for the quarter, compared to analyst estimates of $442.20 million. John Bean Technologies had a return on equity of 9.67% and a net margin of 36.66%. John Bean Technologies’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 earnings per share. John Bean Technologies updated its FY24 guidance to $5.05-5.35 EPS and its FY 2024 guidance to 5.050-5.350 EPS.

John Bean Technologies Stock Performance

NYSE JBT traded up $11.04 during mid-day trading on Wednesday, reaching $106.30. 278,641 shares of the stock were exchanged, compared to its average volume of 256,718. The company has a market capitalization of $3.38 billion, a P/E ratio of 5.61, a P/E/G ratio of 1.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.96 and a current ratio of 2.54. The business’s 50 day moving average is $92.70 and its 200-day moving average is $93.64. John Bean Technologies has a 1 year low of $82.64 and a 1 year high of $109.91.

John Bean Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a $0.10 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.40 annualized dividend and a yield of 0.38%. John Bean Technologies’s dividend payout ratio is presently 2.13%.

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.