Food processing and aviation equipment manufacturer John Bean (NYSE: JBT) will be announcing earnings results this Monday afternoon. Here’s what investors should know.
John Bean beat analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $854.1 million, up 118% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and EPS guidance for next quarter exceeding analysts’ expectations.
Is John Bean a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting John Bean’s revenue to grow 122% year on year to $891.2 million, a reversal from the 5.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.28 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. John Bean has missed Wall Street’s revenue estimates five times over the last two years.
Looking at John Bean’s peers in the general industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Luxfer delivered year-on-year revenue growth of 4.3%, beating analysts’ expectations by 5.9%, and GE Aerospace reported revenues up 23.4%, topping estimates by 6.5%. Luxfer’s stock price was unchanged after the resultswhile GE Aerospace was down 1.1%.
Read our full analysis of Luxfer’s results here and GE Aerospace’s results here.
Investors in the general industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. John Bean is up 7.4% during the same time and is heading into earnings with an average analyst price target of $129.40 (compared to the current share price of $132.86).
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