Food processing and aviation equipment manufacturer JBT Marel (NYSE: JBTM) will be reporting earnings this Monday after the bell. Here’s what to expect.
JBT Marel beat analysts’ revenue expectations last quarter, reporting revenues of $1.01 billion, up 116% year on year. It was a mixed quarter for the company, with full-year revenue guidance beating analysts’ expectations but a miss of analysts’ adjusted operating income estimates.
Is JBT Marel a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting JBT Marel’s revenue to grow 8.1% year on year, slowing from the 118% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. JBT Marel has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at JBT Marel’s peers in the general industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Albany delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 10.8%, and Luxfer reported a revenue decline of 13.5%, falling short of estimates by 0.7%. Albany’s stock price was unchanged after the resultswhile Luxfer was up 7%.
Read our full analysis of Albany’s results here and Luxfer’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 9.4% on average over the last month. JBT Marel is down 7.7% during the same time and is heading into earnings with an average analyst price target of $183.50 (compared to the current share price of $115.47).
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