JBT Corporation (NYSE: JBT) has reported results for the fourth quarter and full-year 2015.
Revenue for 2015 was USD1.1 billion, an increase of 12.5 percent from 2014. On a constant currency basis, revenue increased 20.1 percent year over year, including organic revenue growth of 11.2 percent.
Segment operating profit increased 20.4 percent, or 31.0 percent on a constant currency basis. Segment operating profit margin increased 73 basis points to 11.2 percent for 2015.
Corporate expense for the year was USD34.6 million compared to USD37.5 million in 2014. Corporate expense in 2014 included management succession and consulting costs of USD8.8 million.
Fourth quarter 2015 revenue increased 20.0 percent from the fourth quarter of 2014. On a constant currency basis, revenue increased 27.0 percent year over year.
Segment operating profit increased 20.1 percent, or 29.3 percent on a constant currency basis. Diluted earnings per share from continuing operations was USD0.70 for the fourth quarter of 2015 versus USD0.51 in the year-ago period.
Excluding restructuring charges of USD2.0 million and management succession and consulting costs of USD3.1 million, adjusted diluted earnings per share from continuing operations was USD0.61 in the fourth quarter of 2014.
John Bean Technologies Corporation (JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with a 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 JBT FoodTech segment. It employs approximately 4,200 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries.
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