JBT delivers strong Q3 revenue, earnings and order gains

JBT Corporation (NYSE: JBT) has reported revenue of USD 421 million, up 20 percent from prior year period, the company said.

Operating income was USD 42.2 million, an increase of 43 percent, while total segment operating profit was USD 53.2 million, an increase of 32 percent

Diluted earnings per share from continuing operations was USD 0.82, compared with USD 0.69 in the third quarter of 2016.

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 USD 0.82 for the third quarter of 2017 compared to USD 0.69 in the third quarter of 2016.

For the third quarter of 2017, inbound orders of USD 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.

JBT is a 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, visit www.jbtc.com.