John Bean (JBT) To Report Earnings Tomorrow: Here Is What To Expect

Food processing and aviation equipment manufacturer John Bean (NYSE:JBT) will be reporting results tomorrow after market hours. Here’s what to expect.

John Bean missed analysts’ revenue expectations by 7% last quarter, reporting revenues of $402.3 million, down 5.9% year on year. It was a softer quarter for the company, with a miss of analysts’ earnings estimates.

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 9.6% year on year to $442.2 million, improving from the 1.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.41 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.

Looking at John Bean’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Snap-on posted flat year-on-year revenue, beating analysts’ expectations by 7.8%, and Worthington reported a revenue decline of 17.5%, falling short of estimates by 13.1%. Snap-on traded up 9.4% following the results while Worthington was down 5.5%.

Read our full analysis of Snap-on’s results here and Worthington’s results here.

There has been positive sentiment among investors in the industrial machinery segment, with share prices up 3.3% on average over the last month. John Bean is up 7.3% during the same time and is heading into earnings with an average analyst price target of $110.33 (compared to the current share price of $98.65).

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