JOHN BEAN TECHNOLOGIES Reports Q2 FY2023 Earnings Results on August 1, 2023
August 5, 2023
🌥️Earnings Overview
On August 1 2023, JOHN BEAN TECHNOLOGIES ($NYSE:JBT) announced their earnings results for Q2 FY2023 ending June 30 2023. Total revenue was reported at USD 427.7 million, representing a decrease of 21.1% from the same period in the prior fiscal year. Net income for this quarter was USD 31.0 million, reflecting a 7.2% decline compared to last year.
Stock Price
Upon the news of the earnings announcement, the stock opened at $123.0 and closed at $120.5, representing a decrease of 2.5% from the prior closing price of $123.6. This decrease in year-over-year revenue was mainly due to the company’s inability to capture new markets and expand their product offerings. Overall, investors are not pleased with the results that JOHN BEAN TECHNOLOGIES reported for their second quarter of fiscal year 2023. The company needs to focus on increasing their revenue and expanding their product offerings in order to recapture lost markets and grow the business. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for JBT. More…
| Total Revenues | Net Income | Net Margin |
| 1.97k | 128.3 | 6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for JBT. More…
| Operations | Investing | Financing |
| 160.1 | -406.8 | 239.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for JBT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.59k | 1.67k | 28.95 |
Key Ratios Snapshot
Some of the financial key ratios for JBT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.2% | -5.8% | 8.4% |
| FCF Margin | ROE | ROA |
| 4.1% | 11.5% | 4.0% |
Analysis
GoodWhale conducted an analysis of JOHN BEAN TECHNOLOGIES’ wellbeing. According to our Star Chart, JOHN BEAN TECHNOLOGIES is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. As such, investors looking for moderate returns on their investments would likely be interested in this company. GoodWhale’s analysis of JOHN BEAN TECHNOLOGIES revealed that it is in strong standing overall, with a health score of 8/10. This indicates that the company is capable of paying off its debt and funding future operations. Additionally, we found that JOHN BEAN TECHNOLOGIES is strong in assets, dividends, and profitability, and medium in growth. More…
Peers
The company’s products are used by customers in more than 100 countries around the world. John Bean Technologies Corp has a strong competitive position in the market, with a wide range of products and a global customer base. The company’s competitors include Dover Corp, Shenzhen Genvict Technologies Co Ltd, Crawford United Corp.
– Dover Corp ($NYSE:DOV)
Dover Corporation is a global manufacturer of industrial products and components. The company’s products are used in a variety of industries, including aerospace, transportation, energy, and medical. Dover’s products are sold through a network of distributors and retailers. The company has a market cap of 18.29B as of 2022 and a Return on Equity of 22.89%. Dover is a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol DOV.
– Shenzhen Genvict Technologies Co Ltd ($SZSE:002869)
Shenzhen Genvict Technologies Co Ltd has a market cap of 4.08B as of 2022. The company’s return on equity is -3.9%.
Shenzhen Genvict Technologies Co Ltd is a leading provider of Internet of Things (IoT) solutions. The company’s products and solutions are used in a wide range of industries, including smart city, transportation, energy, environment, healthcare, and manufacturing.
– Crawford United Corp ($OTCPK:CRAWA)
Crawford United Corp is a publicly traded company with a market capitalization of $61.6 million as of 2022. The company has a return on equity of 10.27%. Crawford United Corp is engaged in the business of providing engineering, construction and maintenance services to the energy, industrial and commercial markets.
Summary
John Bean Technologies has reported decreased revenue and net income in their second quarter of FY2023 compared to the same period last year. Revenue decreased by 21.1% to US$427.7 million while net income decreased by 7.2%, to US$31.0 million. For investors, this can be seen as a warning sign that the company’s performance is weakening and it may be worth considering reallocating funds away from John Bean Technologies. Nevertheless, it is important for investors to follow the company’s progress closely and to make an informed decision based on all relevant data and information.
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