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JBT Marel (JBTM) investor relations material
JBT Marel Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 revenue reached $1,001.3 million, up 120.6% year-over-year, driven by the Marel acquisition and strong demand in poultry, pharmaceutical, and pet food markets; orders totaled $946 million and backlog was $1.3 billion.
Adjusted EBITDA was $171 million (17.1% margin), with net income from continuing operations at $67 million and GAAP EPS of $1.28; adjusted EPS was $1.94.
Achieved $14 million in year-over-year synergy savings, with expectations for $40–$45 million in in-year synergy savings and $80–$90 million annualized run rate savings by year-end.
Integration of JBT and Marel is progressing, with restructuring plans underway and $24.1 million in charges recognized.
Year-to-date operating cash flow was $224 million and free cash flow was $163 million, with liquidity of $1.9 billion as of September 30, 2025.
Financial highlights
Q3 2025 revenue was $1,001.3 million, up from $453.8 million in Q3 2024, with a $26 million FX benefit; adjusted EBITDA was $171 million, up from $81.7 million.
Adjusted EBITDA margin was 17.1%, down 90 bps year-over-year; gross profit margin was 35.9%.
GAAP EPS was $1.28; adjusted EPS was $1.94, both higher than Q3 2024.
Net income from continuing operations was $67 million (6.7% margin), including $33 million in acquisition-related amortization and depreciation.
Free cash flow for the first nine months was $163 million, including $101 million in acquisition costs.
Outlook and guidance
Full-year 2025 revenue guidance raised to $3,760–$3,790 million, with an expected $70–$85 million FX tailwind.
Adjusted EBITDA margin guidance is 15.75–16.0%; adjusted EPS guidance is $6.10–$6.40.
In-year synergy savings for 2025 expected at $40–$45 million; run rate savings of $80–$90 million by year-end.
Full-year net interest expense expected at $105 million; capital expenditures projected at $90–$95 million.
Visibility above 70% for 2026 revenue, with growth expected next year.
Progress on annualized synergy run rate?
What drives the Q4 segment realignment?
How is debt reduction progressing?
Marel's margin drivers beyond volume/synergies
Tariff mitigation efforts and Q4 margin impact
Cross-selling pipeline and revenue synergy outlook
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Frequently asked questions
John Bean Technologies Corporation, commonly known as JBT Corporation, provides technology solutions for the food and beverage and air transportation industries. The company designs, manufactures, and services equipment for food processing, preservation, and packaging, as well as ground support equipment for airports. It operates globally across multiple end markets. The company is headquartered in Chicago, Illinois, and its shares are listed on the NYSE.
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