Food processing and aviation equipment manufacturer John Bean (NYSE: JBT) will be reporting results this Monday afternoon. Here’s what you need to know.
John Bean beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $934.8 million, up 132% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.
Is John Bean a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting John Bean’s revenue to grow 106% year on year to $934 million, improving from the 12.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.51 per share.
Analysts covering the company have generally 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 Q3 results, giving us a hint as to what we can expect. Columbus McKinnon delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 8.5%, and GE Aerospace reported revenues up 36.2%, topping estimates by 11.7%. Columbus McKinnon traded up 7.6% following the results while GE Aerospace was down 1.6%.
Read our full analysis of Columbus McKinnon’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 down 12.9% during the same time and is heading into earnings with an average analyst price target of $150.25 (compared to the current share price of $126.10).
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