NYSE$JBTM
JBT Marel Corp. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
JBT's first quarter expectations were outperformed, driven by stronger recurring revenue and higher shipments due to improved supply chain dynamics. FoodTech experienced high customer engagement focusing on automation, sustainability, and digitalization. AeroTech achieved record orders with strong demand from infrastructure and commercial airline markets.
JBT Corporation reported a 13% increase in revenue to $530 million for the first quarter of 2023. Net income remained consistent at $26 million, while adjusted EBITDA increased by 30% to $70 million. Adjusted earnings per share increased by 7% to $0.94. The company's backlog reached $1.2 billion, with orders totaling $638 million, a 13% increase.
- Revenue increased by 13 percent to $530 million.
- Net income was consistent at $26 million, with earnings per share of $0.80.
- Adjusted EBITDA increased 30 percent to $70 million.
- Orders increased 13 percent to $638 million and backlog increased 5% to $1.2 billion.
Headline financials
Revenue & EPS history
JBT · Revenue · Quarterly
$530M
Revenue by segment
JBT · $3.8B total across 2 segments · Q4 2025
- Prepared Food and Beverage$2.08B—54.8%
- Protein Solutions$1.72B—45.2%
Forward guidance
JBT is largely reiterating its full year 2023 guidance and continues to expect that margins will approach pre-pandemic levels.
Tailwinds
- FoodTech year-over-year revenue growth is estimated to be 5 - 10 percent for Q2 2023.
- FoodTech operating profit margin is forecast to be 12.5 - 13.25 percent for Q2 2023.
- FoodTech adjusted EBITDA margin is projected to be 18.0 - 18.75 percent for Q2 2023.
- AeroTech year-over-year revenue growth is expected to be 4 - 7 percent for Q2 2023.
- AeroTech operating profit margin is forecast to be 10 - 11 percent for Q2 2023.
Headwinds
- Corporate expense is estimated to be approximately 2.7 percent of sales for Q2 2023, which excludes approximately $2 - $3 million in M&A related costs, $2 million in LIFO expense, and $3 million in restructuring expense.
- Approximately $4 million of restructuring expense related to FoodTech for the full year 2023.
- Corporate expense is forecast to be approximately 2.7 percent of sales for the full year 2023, which excludes approximately $8 million in M&A related costs, $8 - $9 million in LIFO expense, and $4 million in restructuring expense.
- FoodTech year-over-year revenue growth is estimated to be 5 - 9 percent for full year 2023.
- AeroTech year-over-year revenue growth is estimated to be 12 - 14 percent for full year 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.2%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+0.8%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+22.4%
Q2 2018
Best reaction
-21.1%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +13.7% | +20.8% | +8.4% | |
| Q4 2025 | +0.6% | -5.8% | -19.8% | |
| Q3 2025 | +12.1% | +13.4% | +13.3% | |
| Q1 2025 | -4.2% | +4.9% | +10.6% | |
| Q4 2024 | +15.3% | +12.6% | +7.4% | |
| Q3 2024 | +14.8% | +17.1% | +22.0% | |
| Q2 2024 | +1.0% | -3.6% | -7.9% | |
| Q1 2024 | +1.4% | +3.4% | +7.2% | |
| Q4 2023 | -6.0% | -4.3% | -1.8% | |
| Q3 2023 | +11.0% | +4.9% | +11.8% | |
| Q2 2023 | -7.3% | -10.2% | -11.1% | |
| Q1 2023 | -2.2% | +1.1% | -4.3% | |
| Q4 2022 | -2.3% | -3.7% | -8.6% | |
| Q3 2022 | -8.4% | -5.9% | -5.3% | |
| Q2 2022 | -4.3% | -1.3% | -5.1% | |
| Q1 2022 | +4.6% | +8.4% | +10.3% | |
| Q4 2021 | -21.1% | -15.6% | -10.5% | |
| Q3 2021 | +0.3% | +2.9% | +8.8% | |
| Q2 2021 | +0.2% | +6.9% | +1.0% | |
| Q1 2021 | +3.5% | +5.3% | +2.8% | |
| Q4 2020 | +9.7% | +13.9% | +1.0% | |
| Q3 2020 | -2.1% | -3.1% | +31.0% | |
| Q2 2020 | +4.8% | +4.2% | +13.3% | |
| Q1 2020 | -4.9% | -13.4% | +1.8% | |
| Q4 2019 | +1.7% | -2.8% | -43.1% | |
| Q3 2019 | +1.8% | +2.4% | +4.5% | |
| Q2 2019 | -1.6% | -11.7% | -17.0% | |
| Q1 2019 | +9.1% | +14.1% | +2.5% | |
| Q4 2018 | +6.3% | +6.9% | +2.7% | |
| Q3 2018 | -10.8% | -11.3% | -18.5% | |
| Q2 2018 | +22.4% | +16.4% | +20.4% | |
| Q1 2018 | -16.1% | -18.2% | -18.1% | |
| Q4 2017 | -7.8% | -8.0% | -8.9% | |
| Q3 2017 | +8.7% | +5.9% | +10.6% | |
| Q2 2017 | -1.8% | -1.7% | -4.9% | |
| Q1 2017 | -3.4% | -2.6% | -5.3% | |
| Q4 2016 | +5.2% | +3.8% | +3.2% | |
| Q3 2016 | +3.7% | +7.6% | +23.6% | |
| Q2 2016 | -0.5% | -0.7% | +2.7% | |
| Q1 2016 | -8.4% | — | — | |
| Q4 2015 | +14.7% | — | — | |
| Q3 2015 | +9.8% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | +9.8% | — | — | |
| Q4 2014 | +5.2% | — | — | |
| Q3 2014 | +1.5% | — | — | |
| Q2 2014 | +5.0% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | -6.4% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +11.3% | — | — | |
| Q3 2012 | -2.5% | — | — | |
| Q2 2012 | +1.8% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2009 | -1.0% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q3 2011 | +2.7% | — | — | |
| Q3 2010 | +2.7% | — | — | |
| Q2 2010 | -7.9% | — | — | |
| Q2 2011 | -7.9% | — | — | |
| Q4 2010 | -7.9% | — | — | |
| Q1 2010 | +6.0% | — | — |
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