JBT: 2Q Earnings Snapshot
CHICAGO (AP) _ John Bean Technologies Corp. (JBT) on Monday reported second-quarter net income of $33.7 million.
The Chicago-based company said it had net income of $1.05 per share. Earnings, adjusted for one-time gains and costs, came to $1.42 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The food processing and transportation services company posted revenue of $493.3 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $479.8 million.
For the current quarter ending in October, JBT expects its per-share earnings to range from $1.05 to $1.10.
The company expects full-year earnings in the range of $4.70 to $4.90 per share, with revenue ranging from $500 million to $510 million.
JBT shares have increased 69% since the beginning of the year. In the final minutes of trading on Monday, shares hit $121.48, a climb of almost 6% in the last 12 months.