Recap: John Bean Technologies Q3 Earnings

Shares of John Bean Technologies JBT fell 3.1% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 35.16% over the past year to $0.83, which beat the estimate of $0.71.

Revenue of $419,200,000 decreased by 14.34% year over year, which beat the estimate of $388,770,000.

Guidance

JBT Sees Q4 Adj. EPS $0.80-$0.90 vs $1.06 Est.

Technicals

52-week high: $119.78

Company's 52-week low was at $56.17

Price action over last quarter: down 11.13%

Company Description

John Bean Technologies is a mid-cap, diversified industrial conglomerate that spun out of FMC Technologies in August 2008. Over half of JBT's sales are made in the United States. The firm operates through two segments: JBT FoodTech and JBT AeroTech. FoodTech provides both customized and turnkey industrial solutions for the food and beverage industry, including a large variety of protein processing and packaging solutions, as well as fruit and juice extraction and ready-to-eat solutions. Aerotech sells solutions to airport authorities, passenger airlines, airfreight firms, and defense contractors, among others. These solutions include gate equipment, as well as commercial and military cargo loading, aircraft deicing, and aircraft ground power and cooling system products.