Jbt Marel Corporation · NYSE:JBTM
Jbt Marel — Q3 2024 Earnings Presentation
16 slides from Jbt Marel's earnings presentation, Oct 22, 2024
Slide 1: Q3 2024 Earnings Presentation
Q3 2024 Earnings Presentation October 22, 2024
Slide 2: Forward-Looking and Non-GAAP Statements
Forward-Looking and Non-GAAP Statements This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond JBT’s abi
Slide 3: Important Additional Information
Important Additional Information Important Notices This presentation is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unl
Slide 4: Third Quarter 2024 Results
Third Quarter 2024 Results Key Takeaways Q3 2024 YoY vs. Q2 2024 ($ Millions Except EPS) ▪ Achieved another strong quarter with orders of $440M and a sustained backlog of nearly $700M Results from Continuing Operations ▪ As expected, delivered double-digit year-over-year (YoY) Orders $440 10% 1% rev
Slide 5: Strong Orders Across Diverse End Markets
Strong Orders Across Diverse End Markets Orders and Backlog Trend Q3 2024 Revenue Breakdown ($ Millions) Recurring Non-Recurring North America EMEA Orders Backlog Asia Pacific Central & South $678 $697 $689 $678 $697 $698 America $662 $664 $664 5% 10% 47% $432 $445 $418 $437 $440 53% $406 $398 $389
Slide 6: Strong Balance Sheet to Support JBT Initiatives
Strong Balance Sheet to Support JBT Initiatives Net Debt and Leverage Ratio (1) Key Metrics as of September 30, 2024 Net Debt Leverage Ratio Net Debt / TTM Adj. EBITDA from Continuing Operations (2) 0.4x $300 2.0x 1.5x YTD Free Cash Flow (2) $79M $200 $ Millions 1.0x TTM Free Cash Flow (2) $184M $10
Slide 7: Reiterating 2024 Outlook for Revenue, Adj. EBITDA, & Adj. EPS
Reiterating 2024 Outlook for Revenue, Adj. EBITDA, & Adj. EPS FY 2024 $ millions except EPS Guidance Revenue $1,715 – $1,750 Income from Continuing Operations $116 - $125 Adjusted EBITDA (1) $295 – $305 Adjusted EBITDA Margin 17.0 – 17.5% GAAP EPS $3.60 – $3.90 Adjusted EPS (1) $5.05 – $5.35 Free Ca
Slide 8: Appendix
Appendix 8
Slide 9: Non-GAAP Financial Measures
Non-GAAP Financial Measures The non-GAAP financial measures presented in this report may differ from similarly-titled measures used by other companies. The non-GAAP financial measures are not intended to be used as a substitute for, nor should they be considered in isolation of, financial measures p
Slide 10: Reconciliation of Income from Continuing Operations to Adjusted EBITDA
Reconciliation of Income from Continuing Operations to Adjusted EBITDA Three Months Ended Nine Months Ended September 30, September 30, (In millions) 2024 2023 2024 2023 Income from continuing operations $ 38.1 $ 31.1 $ 91.5 $ 76.6 Income tax provision 9.5 4.6 14.3 17.8 Interest (income) expense, ne
Slide 11: Reconciliation of Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share
Reconciliation of Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share Three Months Ended Nine Months Ended September 30, September 30, (In millions, except per share data) 2024 2023 2024 2023 Income from continuing operations $ 38.1 $ 31.1 $ 91.5 $ 76.6 Non-GAAP adjustments Restructuri
Slide 12: Reconciliation of Cash Provided by Operating Activities to Free Cash Flow
Reconciliation of Cash Provided by Operating Activities to Free Cash Flow Q3 2024 (In millions) YTD TTM Cash provided by operating activities $ 103.9 $ 82.5 Less: Capital expenditures 27.9 36.8 Plus: Proceeds from disposal of assets 0.9 1.8 Plus: Pension contributions 2.3 3.2 Plus: income taxes on g
Slide 13: Leverage Ratio Calculations
Leverage Ratio Calculations (In millions) Q3 2024 Total debt $ 648.3 Cash and marketable securities (534.5) Net debt 113.8 Other items considered debt under the credit agreement 15.6 Consolidated total indebtedness (1) $ 129.4 Trailing twelve months Adjusted EBITDA from continuing operations $ 283.8
Slide 14: Recurring vs. Non-recurring Revenue
Recurring vs. Non-recurring Revenue As of September 30, 2024 QTD YTD Type of Good or Service Recurring(1) $ 213.1 $ 613.7 Non-recurring(1) 240.7 634.7 Total $ 453.8 $ 1,248.4 % of recurring 47% 49% (1) Aftermarket parts and services and revenue from lease and long-term service contracts are consider
Slide 15: Reconciliation of Diluted EPS to Adjusted Diluted EPS Guidance
Reconciliation of Diluted Earnings Per Share from Continuing Operations to Adjusted Diluted Earnings Per Share Guidance Guidance (In cents) Full Year 2024 Diluted earnings per share from continuing operations $3.60 - $3.90 Non-GAAP adjustments: Restructuring related costs (1) 0.03 (2) 1.24 M&A relat
Slide 16: Reconciliation of Income to Adjusted EBITDA Guidance
Reconciliation of Income from Continuing Operations to Adjusted EBITDA Guidance Guidance (In millions) Full Year 2024 Income from continuing operations $116.0 - $125.0 Income tax provision 20.0 - 23.0 Interest income, net (6.0 - 8.0) Depreciation and amortization ~90.0 EBITDA from continuing operati