John Bean Technologies (NYSE:JBT) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

John Bean Technologies (NYSE:JBT) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09, Briefing.com reports. John Bean Technologies had a return on equity of 9.67% and a net margin of 36.66%. The firm had revenue of $453.80 million during the quarter, compared to the consensus estimate of $442.20 million. During the same period last year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. John Bean Technologies updated its FY24 guidance to $5.05-5.35 EPS and its FY 2024 guidance to 5.050-5.350 EPS.

John Bean Technologies Price Performance

John Bean Technologies stock traded down $3.01 during midday trading on Friday, reaching $115.01. The company’s stock had a trading volume of 107,271 shares, compared to its average volume of 266,733. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.96 and a current ratio of 2.54. John Bean Technologies has a fifty-two week low of $82.64 and a fifty-two week high of $118.55. The firm has a market capitalization of $3.66 billion, a PE ratio of 6.30, a P/E/G ratio of 1.35 and a beta of 1.25. The stock’s 50 day simple moving average is $93.77 and its 200 day simple moving average is $93.93.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.35%. John Bean Technologies’s dividend payout ratio (DPR) is 2.13%.

John Bean Technologies Company Profile

John Bean Technologies Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.