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

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

John Bean Technologies stock traded up $5.87 during mid-day trading on Thursday, hitting $118.02. 882,188 shares of the company’s stock traded hands, compared to its average volume of 267,507. John Bean Technologies has a one year low of $82.64 and a one year high of $118.27. The company has a market cap of $3.76 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.25. The firm has a 50 day moving average price of $93.77 and a 200 day moving average price of $93.93. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 0.43.

John Bean Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, August 19th. John Bean Technologies’s dividend payout ratio is currently 2.13%.

John Bean Technologies Company Profile

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.