JBT Marel Corporation (JBTM) Q3 2025 Earnings Call Transcript
Total Revenue Approximately $1 billion, an increase of 7% sequentially. Reasons for the increase include excellent manufacturing and supply chain productivity, which allowed for higher backlog to revenue conversion, and $20 million in higher book and ship revenue.
Orders $946 million, an increase of 7% year-over-year. Reasons for the increase include continued equipment investment from the poultry industry and robust orders from pet food and pharma sectors.
Backlog $1.3 billion. No year-over-year change mentioned, but it provides visibility for the remainder of the year and support as the company enters 2026.
Adjusted EBITDA Margin 17.1%, exceeded expectations by 140 basis points. Reasons for the increase include favorable mix of poultry equipment, shorter-cycle products, and better-than-expected synergy savings.
Synergy Savings $14 million year-over-year. Reasons include disciplined execution of integration plans and optimization of procurement strategies.
GAAP EPS $1.28. No year-over-year change or reasons mentioned.
Adjusted EPS $1.94. Excludes certain one-time items and acquisition-related costs.
Net Tariff Impact Approximately $15 million in the quarter, slightly less than anticipated due to cost mitigation efforts.
JBT Segment Revenue $465 million, an increase of 2% year-over-year and sequentially. Reasons for the increase include higher share of corporate-related costs carried in the JBT segment.
JBT Segment Adjusted EBITDA Margin 15.3%, a decrease of 13% year-over-year and sequentially. Reasons for the decrease include unfavorable mix of equipment and one-off project variances.
Marel Segment Revenue $537 million, an increase of 12% sequentially. Reasons for the increase include favorable mix from higher-margin poultry equipment, integration synergies, and volume leverage.
Marel Segment Adjusted EBITDA Margin 18.6%. Reasons for the strong profitability include favorable mix from higher-margin poultry equipment, integration synergies, and volume leverage.
Operating Cash Flow $88 million for the third quarter, a record quarterly figure for the combined company. No year-over-year change mentioned.
Free Cash Flow $163 million for the first 9 months of 2025. No year-over-year change mentioned.
Financial Leverage Decreased to 3.1x from an initial leverage ratio of 4x at the close of the combination. Reasons for the decrease include strong cash flow and deleveraging efforts.
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JBTM Options Volume Hits 231,400 Shares, Significant Increase
- Active Options Trading: JBT Marel Corp's options volume reached 2,314 contracts today, equivalent to approximately 231,400 shares, indicating a trading activity level of 48.3% of its average daily volume over the past month.
- High Strike Price Interest: Notably, the $160 strike call option expiring on February 20, 2026, saw 1,150 contracts traded today, representing about 115,000 shares, reflecting strong market interest at this price point.
- Zillow Options Activity: Zillow Group Inc experienced options trading volume of 13,065 contracts, representing approximately 1.3 million shares, or about 48.1% of its average daily trading volume over the past month, indicating market attention on its future performance.
- High Strike Price Trading: The $70 strike call option for Z saw a trading volume of 6,228 contracts today, representing approximately 622,800 shares, reflecting bullish sentiment among investors at this price level.
JBT Marel to Host Investor Day on March 26, 2026
- Investor Day Announcement: JBT Marel will host an Investor Day in New York City on March 26, 2026, starting at 9:00 AM ET, where CEO Brian Deck and the executive team will update on strategic priorities and financial objectives, aiming to bolster investor confidence.
- Diverse Participation Options: While in-person attendance is encouraged, the event will also be accessible via live webcast and replay due to space limitations, ensuring broader investor access to key information and enhancing company transparency.
- Global Business Operations: JBT Marel operates sales, service, manufacturing, and sourcing in over 30 countries, showcasing its global influence in the food and beverage industry and further solidifying its market leadership.
- Technological Solutions Focus: The company aims to create better customer outcomes by optimizing food yield and efficiency and improving food safety and quality, highlighting the strategic importance of reducing waste and resource use across the food supply chain.
