John Bean’s second quarter results were met with a positive market reaction, as the company delivered notable revenue growth and exceeded Wall Street’s expectations. Management attributed the strong quarter to higher recurring revenue, robust equipment demand in poultry, and early integration benefits from the Marel combination. CEO Brian Deck highlighted that the company’s “broad portfolio and end market exposures” helped offset sector-specific challenges, with EMEA and Latin America performing especially well, and a solid $1.4 billion backlog supporting near-term visibility.
Is now the time to buy JBTM? Find out in our full research report (it’s free).
John Bean (JBTM) Q2 CY2025 Highlights:
- Revenue: $934.8 million vs analyst estimates of $891.2 million (132% year-on-year growth, 4.9% beat)
- Adjusted EPS: $1.49 vs analyst estimates of $1.28 (16.4% beat)
- Adjusted EBITDA: $156.2 million vs analyst estimates of $134.3 million (16.7% margin, 16.3% beat)
- Adjusted EPS guidance for the full year is $5.80 at the midpoint, beating analyst estimates by 0.8%
- Operating Margin: 5.2%, down from 6.7% in the same quarter last year
- Backlog: $1.4 billion at quarter end
- Organic Revenue rose 6.3% year on year (-3.3% in the same quarter last year)
- Market Capitalization: $7.05 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From John Bean’s Q2 Earnings Call
- Ross Riley Sparenblek (William Blair) asked about visibility in the poultry cycle beyond 2026; CEO Brian Deck said it was too early to provide a long-term outlook but noted current strong investments in automation and efficiency.
- Mircea Dobre (RW Baird) pressed for details on Marel’s margin improvement; CFO Matthew Meister credited synergy savings, increased recurring revenue, and better order planning, with Arni Sigurdsson adding that higher volumes and project selectivity in meat and fish also contributed.
- Saree Emily Boroditsky (Jefferies) inquired about sequential margin trends and the impact of tariffs; Meister explained both JBT and Marel expect lower margins in Q3 due to mix and tariffs, but see improvement in Q4 as volume picks up.
- Justin Ian Ages (CJS Securities) questioned whether tariffs were causing order delays; Deck confirmed only limited, customer-specific delays outside protein, and reiterated that mitigation strategies are in progress.
- Walter Scott Liptak (Seaport Research) asked about pricing actions and recurring revenue; Deck said proactive price increases for parts and refurbishments were implemented and recurring revenue demand remains strong, despite some seasonality.
Catalysts in Upcoming Quarters
Looking forward, the StockStory team will monitor (1) conversion of the $1.4 billion backlog and progress in cross-selling integrated solutions, (2) effectiveness of tariff mitigation strategies and supply chain adjustments, and (3) further realization of synergy savings and integration milestones. Segment-specific order momentum and the pace of automation adoption in meat and poultry will also be critical signposts.
John Bean currently trades at $135.72, up from $133.61 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it’s free).
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