Overview

• US food technology provider's Q1 revenue rose 10% yr/yr, beating analyst expectations

• Adjusted EPS for Q1 beat consensus

• Company reiterated full-year 2026 guidance for revenue growth and margin expansion

Outlook

• JBT Marel reiterates FY 2026 revenue guidance of $3.99 bln to $4.065 bln

• Company expects FY 2026 adjusted EPS of $8.00 to $8.50

• JBT Marel anticipates FY 2026 adjusted EBITDA margin of 17.0% to 17.5%

Result Drivers

• PROTEIN SOLUTIONS GROWTH - Revenue in Protein Solutions rose 22%, aided by higher poultry volume and improvements in meat and fish businesses

• FOREIGN EXCHANGE IMPACT - Revenue growth included a 6% benefit from foreign exchange translation

• MARGIN PRESSURE IN PREPARED FOOD & BEVERAGE - Flat revenue and lower margins in Prepared Food and Beverage Solutions due to higher tariffs, lower CPG volume, and warehouse automation challenges

Company press release: ID:nBw5S8V4ma

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$936 mln	$924.85 mln (5 Analysts)
Q1 Adjusted EPS	Beat	$1.58	$1.48 (5 Analysts)
Q1 EPS		$0.86
Q1 Net Income		$45 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

• Wall Street's median 12-month price target for JBT Marel Corp is $190.00, about 64.6% above its May 1 closing price of $115.44

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 20 three months ago

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