John Bean Technologies Files Q2 2024 10-Q

TL;DR

JBT's Q2 10-Q is in. Check financials for latest performance.

AI Summary

John Bean Technologies Corp. (JBT) filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and first half of the fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for John Bean Technologies, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided metadata.

Key Players & Entities

• John Bean Technologies Corp. (company) — Filer
• 0001433660 (company) — Central Index Key
• 20240630 (date) — Period of Report
• 20240731 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share JBT New York Stock Exchange

Filing Documents

• jbt-20240630.htm (10-Q) — 1259KB
• a063024-jbtexhibit311.htm (EX-31.1) — 10KB
• a063024-jbtexhibit312.htm (EX-31.2) — 10KB
• a063024-jbtexhibit321.htm (EX-32.1) — 4KB
• a063024-jbtexhibit322.htm (EX-32.2) — 4KB
• 0001433660-24-000035.txt ( ) — 7120KB
• jbt-20240630.xsd (EX-101.SCH) — 45KB
• jbt-20240630_cal.xml (EX-101.CAL) — 77KB
• jbt-20240630_def.xml (EX-101.DEF) — 195KB
• jbt-20240630_lab.xml (EX-101.LAB) — 598KB
• jbt-20240630_pre.xml (EX-101.PRE) — 416KB
• jbt-20240630_htm.xml (XML) — 1144KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS JOHN BEAN TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2024 2023 2024 2023 Revenue: Product revenue $ 362.7 $ 387.3 $ 718.1 $ 733.8 Service revenue 39.6 40.4 76.5 82.4 Total revenue 402.3 427.7 794.6 816.2 Operating expenses: Cost of products 238.7 256.1 469.2 487.0 Cost of services 20.4 24.4 41.9 49.1 Selling, general and administrative expense 116.2 100.4 226.3 204.1 Restructuring expense 0.2 2.5 1.3 3.3 Operating income 26.8 44.3 55.9 72.7 Pension expense, other than service cost 1.0 0.2 2.0 0.4 Interest income 5.7 1.1 11.4 2.1 Interest expense 4.1 8.2 7.0 15.7 Income from continuing operations before income taxes 27.4 37.0 58.3 58.7 Income tax (benefit) provision ( 3.3 ) 8.6 4.8 13.2 Equity in net earnings of unconsolidated affiliate — — ( 0.1 ) — Income from continuing operations 30.7 28.4 53.4 45.5 Income from discontinued operations, net of taxes — 4.3 0.1 14.4 Net income $ 30.7 $ 32.7 $ 53.5 $ 59.9 Basic earnings per share from: Continuing operations $ 0.96 $ 0.89 $ 1.67 $ 1.42 Discontinued operations — 0.13 — 0.45 Net income $ 0.96 $ 1.02 $ 1.67 $ 1.87 Diluted earnings per share from: Continuing operations $ 0.95 $ 0.89 $ 1.66 $ 1.42 Discontinued operations — 0.13 — 0.45 Net income $ 0.95 $ 1.02 $ 1.66 $ 1.87 The accompanying notes are an integral part of the Condensed Consolidated Financial Statements. 2 JOHN BEAN TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Net income $ 30.7 $ 32.7 $ 53.5 $ 59.9 Other comprehensive income, net of taxes Foreign currency translation adjustments ( 2.7 ) ( 1.7 ) ( 21.0 ) 4.0 Pension and other postretirement benefits adjustments 1.0 1.0 1.6 1.9 Derivatives designated as hedges ( 1.7 ) 0.9

View Full Filing

View this 10-Q filing on SEC EDGAR