JOHN BEAN TECHNOLOGIES Reports Second Quarter Earnings Results for FY2023
August 24, 2023
🌥️Earnings Overview
John Bean Technologies ($NYSE:JBT) announced their second quarter of FY2023 earnings results on June 30 2023, showing a total revenue of USD 427.7 million, a decrease of 21.1% year-over-year. Net income for the period was USD 31.0 million, down 7.2% from the same quarter in the previous year.
Stock Price
The stock opened at $123.0 and closed at $120.5, representing a 2.5% decrease from the prior closing price of 123.6. Looking forward, JOHN BEAN TECHNOLOGIES has announced plans to invest in research and development projects in order to create more innovative products and services for their customers. They are also aiming to expand into new markets and sectors, including the burgeoning field of artificial intelligence and robotics.
This could potentially boost the stock price in the long term, as well as create more opportunities for employees and investors alike. For now, investors will have to wait and see how the company’s strategies play out over the coming quarters and fiscal year. 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
At GoodWhale, we recently conducted a detailed analysis of JOHN BEAN TECHNOLOGIES’s wellbeing. Upon completing our analysis, we found that JOHN BEAN TECHNOLOGIES is a medium risk investment, based on our Risk Rating scale. We recommend that those looking to invest in JOHN BEAN TECHNOLOGIES should take into consideration the potential financial and business risks associated with the company. For a more in-depth look at JOHN BEAN TECHNOLOGIES’s wellbeing, we invite you to register on our website, goodwhale.com. Our site provides a comprehensive overview of the business and financial areas with potential risks. This will give you an idea of where to focus your attention when evaluating this investment opportunity. 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 (JB Technologies) has reported its earnings results for the second quarter of FY2023, showing a 21.1% decrease in total revenue year-over-year and a 7.2% decrease in net income compared to the same period last year. Investors should take note of this significant decline in revenue and profit when considering any investment in JB Technologies. Although the company remains profitable, investors should consider recent trends and analyze its financials before making any decisions.
Short-term investors may wish to wait for further clarity on the company’s direction and outlook before making any investments. Long-term investors should consider the company’s financials and competitive landscape more thoroughly before investing.
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