JBT Q1 2021 Earnings Report
Key Takeaways
JBT Corporation reported a revenue of $418 million. FoodTech orders increased by 22% year-over-year, and the company generated $85.7 million in operating cash flow and $77.6 million in free cash flow.
Revenue of $418 million and earnings per share exceeded expectations at $0.84 or $0.90 as adjusted.
Year-over-year orders increased 22 percent at FoodTech.
Generated outstanding operating cash flow of $85.7 million and free cash flow of $77.6 million.
FoodTech orders were largely driven by needs of food processing customers serving the retail market.
JBT
JBT
Forward Guidance
The Company now expects FoodTech revenue growth of 9 - 11 percent in 2021 with operating margins in the range of 14.25 - 14.75 percent and adjusted EBITDA margins in the 19.25 - 19.75 percent range. At AeroTech, the Company continues to expect revenue growth of 0 - 5 percent compared to 2020, with operating margins in the range of 10.75 - 11.25 percent and adjusted EBITDA margins in the 12.0 - 12.5 percent range.
Challenges Ahead
- supply chain strains and inflation will pressure costs.