JOHN BEAN TECHNOLOGIES Reports Second Quarter Earnings Results for FY2023
August 9, 2023
🌥️Earnings Overview
John Bean Technologies ($NYSE:JBT) announced their earnings for Q2 of FY2023, ending on June 30 2023. Total revenue for this quarter decreased 21.1%, amounting to USD 427.7 million compared to the prior year period. Net income also decreased 7.2%, amounting to USD 31.0 million.
Stock Price
John Bean Technologies announced their second quarter earnings results for the fiscal year 2023 on Tuesday. Despite having a good start to the day with an opening price of $123.0, the stock ended the day at $120.5, registering a decline of 2.5% from its previous closing price of $123.6. This decrease in the market value of the company’s shares is an indication of investor skepticism about the future prospects of John Bean Technologies. Analysts have been closely watching the company’s performance for a while now, but it seems that their expectations have not been met this time. The stock has been trading under pressure for the past few weeks, with investors expressing concern about the company’s ability to maintain its current market position.
Despite this, John Bean Technologies’ management remains confident in their ability to deliver positive growth in the future. They are confident that their investments in product innovation, customer experience and operational efficiency will help them to gain more market share and strengthen their foothold in the industry. Furthermore, they have also highlighted their focus on increasing shareholder value through continued cost optimization and strategic collaboration with partners. It is yet to be seen whether or not they will be able to regain the confidence of their shareholders and turn around their fortunes in the coming quarters. 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 have conducted a thorough analysis of the fundamentals of JOHN BEAN TECHNOLOGIES. Our Risk Rating analysis indicates that JOHN BEAN TECHNOLOGIES is a medium risk investment in terms of financial and business aspects. This analysis includes an in-depth look into the company’s financial performance, its focus on developing new services or products, and its competitive landscape. To gain further insight into JOHN BEAN TECHNOLOGIES, we recommend that potential investors become registered users of our platform. As users, they can access more detailed information about the company, including potential risks in the business and financial areas. With this information, users can make an informed decision about investing in JOHN BEAN TECHNOLOGIES. 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 (JBT) reported decreased revenue and net income for their second quarter of FY2023. Total revenue was USD 427.7 million, a 21.1% decrease compared to the same period last year. Net income dropped 7.2% to USD 31.0 million.
This could signal a weakening of JBT’s business performance and investors should closely monitor the company’s financials for further developments. Short-term investors should consider avoiding the stock while long-term investors should be aware of the risks before investing in JBT.
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