- JBT press release ( NYSE: JBT ): Q4 Non-GAAP EPS of $1.49 beats by $0.09 .
- Revenue of $599M (+20.3% Y/Y) misses by $0.82M .
- Total backlog of $1.1B increased 5 percent Y/Y.
- For the full year 2023 , Consolidated Revenue Growth 6 - 10%; Adjusted EPS $5.00 - $5.50. vs $5.46 Consensus.
- FoodTech year-over-year revenue growth is estimated to be 5 - 9 percent, comprised of 1 - 4 percent from organic growth and 4 - 5 percent from acquisitions. FoodTech operating profit margin is forecast to be 13 - 14 percent, and adjusted EBITDA margin is expected to be 18.5 - 19.5 percent.
- For the full year 2023, AeroTech year-over-year revenue growth is estimated to be 10 - 13 percent. AeroTech operating profit margin is forecast to be 11.25 - 11.75 percent, and adjusted EBITDA margin is projected to be 12 - 12.5 percent.
- Additionally, for the full year 2023, JBT expects to incur $3 - $4 million of restructuring expense related to FoodTech. This, along with the actions taken in the second half of 2022, are expected to generate annual run rate savings of $9 - $12 million in 2024.
- For the first quarter of 2023 , Consolidated Revenue Growth 7 - 10%; Adjusted EPS $0.65 - $0.75. vs $1.00 Consensus. FoodTech year-over-year revenue growth is estimated to be 4 - 7 percent. FoodTech operating profit margin is forecast to be 9.75 - 10.5 percent, and adjusted EBITDA margin is projected to be 16.5 - 17 percent.
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For the first quarter of 2023, AeroTech year-over-year revenue growth is expected to be 15 - 20 percent. AeroTech operating profit margin is forecast to be 9.25 - 10.25 percent, and adjusted EBITDA margin is projected to be 10 - 11 percent.
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JBT reports mixed Q4 earnings; initiates Q1 and FY23 outlook