Jbt Marel Corporation · NYSE:JBTM
Jbt Marel — Q2 2025 Earnings Presentation
18 slides from Jbt Marel's earnings presentation, Aug 4, 2025
Slide 1: Q2 2025 Earnings Presentation
Q2 2025 Earnings Presentation August 4, 2025
Slide 2: Non-GAAP and Forward-Looking Statements
NON-GAAP AND FORWARD-LOOKING STATEMENTS Non-GAAP Measures and Reconciliations to GAAP Measures Adjusted EBITDA, Adjusted EBITDA margin, adjusted EPS, and free cash flow are non-GAAP financial measures. JBT Marel provides non-GAAP financial measures in order to increase transparency in our operating
Slide 3: JBT Marel Delivered Solid Second Quarter 2025 Results
JBT MAREL DELIVERED SOLID SECOND QUARTER 2025 RESULTS Q2 2025 Consolidated Results Key Takeaways Q2 2025 Q2 2024 ▪ Delivered strong quarterly performance as revenue, adjusted EBITDA Results from Continuing Operations margin, and adjusted EPS exceeded guidance ($ millions except EPS and margin) Order
Slide 4: Segment Results Summary
JBT MAREL SEGMENT RESULTS SUMMARY JBT Segment Results Marel Segment Results JBT Segment Revenue JBT Segment Adj. EBITDA Margin Marel Segment Revenue Marel Segment Adj. EBITDA Margin $455 18.0% $480 $445 15.5% $409 14.9% 11.5% Q1 2025 Q2 2025 Q1 2025 Q2 2025 Q1 2025 Q2 2025 Q1 2025 Q2 2025 Key Highli
Slide 5: Healthy Quarterly Orders & Recurring Revenue
HEALTHY QUARTERLY ORDERS & RECURRING REVENUE Consolidated Orders and Revenue Analysis Q2 2025 Consolidated Revenue Breakdown $ millions Q2 2025 Recurring Non-Recurring U.S. & Canada EMEA Asia Pacific Latin America Orders $938 10% Revenue $935 11% 41% 48% 52% 39% Key Highlights ▪ Quarterly orders of
Slide 6: Capital Structure as of June 30, 2025
JBT MAREL CAPITAL STRUCTURE AS OF JUNE 30, 2025 Key Highlights Total Gross Debt Outstanding & Maturity Schedule ▪ Strong Q2 2025 cash generation allowed JBT Marel to reduce net Amount Issued / Effective Rate Maturity debt to ~$1.8B Drawn ($ billions) Structure Schedule ▪ JBT Marel’s bank leverage ra
Slide 7: Implementing Actions to Mitigate Direct Cost Impact from Current Tariffs
IMPLEMENTING ACTIONS TO MITIGATE DIRECT COST IMPACT FROM CURRENT TARIFFS Annualized U.S. COGS Tariff Sensitivity Analysis Tariff Mitigation Actions JBTM U.S. Spend Expected JBTM Impact: Tariff Costs Country / Region ($ millions) Before Mitigation ($ millions) Short-Term Actions European Union (EU) ~
Slide 8: Re-establishing Full Year 2025 Guidance
RE-ESTABLISHING FULL YEAR 2025 GUIDANCE Full Year 2025 Guidance Additional Modeling Details FY 2025 Actual: Expected: $ millions except EPS and margin FY 2025 Guidance 1H 2025 2H 2025 Revenue $3,675 – $3,725 Items included in GAAP EPS & Excluded in Adj. EPS ($ millions) Restructuring related costs $
Slide 9: Expecting to Achieve $150M in Cost Synergies by End of Year 3 Post-Transaction Close
EXPECTING TO ACHIEVE $150M IN COST SYNERGIES BY THE END OF YEAR 3 POST-TRANSACTION CLOSE Direct Materials ▪ Supplier consolidation Anticipated Cost Synergies ▪ Best cost country sourcing ▪ Value add / value engineering $150M Indirect Cost of Goods Sold: ▪ Logistics efficiencies ~$80M ▪ Spend reducti
Slide 10: Appendix
Appendix -- JBT Maret
Slide 11: 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 12: Reconciliation of Income from Continuing Operations to Adjusted EBITDA
JBT MAREL RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA Three Months Ended Six Months Ended June 30, June 30, (In millions) 2025 2024 2025 2024 Income (loss) from continuing operations $ 3.4 $ 30.7 $ (169.6) $ 53.4 Income tax provision (benefit) 7.9 (3.3) (38.3) 4.8 Interest
Slide 13: Reconciliation of Diluted EPS to Adjusted Diluted EPS
JBT MAREL RECONCILIATION OF DILUTED EARNINGS PER SHARE (EPS) TO ADJUSTED DILUTED EPS (In millions, except per share data) Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Income (loss) from continuing operations $ 3.4 $ (173.0) $ (6.9) $ 38.1 $ 30.7 Non-GAAP adjustments Restructuring related costs 5.6 10.6 0
Slide 14: Reconciliation of Cash Provided by Operating Activities to Free Cash Flow
JBT MAREL RECONCILIATION OF CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Q2 2025 (In millions) QTD YTD Cash provided by operating activities $ 102.2 $ 136.6 Less: Capital expenditures 18.5 $ 38.5 Plus: Proceeds from disposal of assets 3.9 $ 4.5 Plus: Pension contributions 0.4 $ 3.2 Free c
Slide 15: Leverage Ratio Calculations
JBT MAREL LEVERAGE RATIO CALCULATIONS (In millions) Q2 2025 Total debt $ 1,921.5 Less: cash and marketable securities 111.8 Net debt 1,809.7 Other items considered debt under the credit agreement 37.3 Consolidated total indebtedness (1) $ 1,847.0 Trailing twelve months adjusted EBITDA from continuin
Slide 16: Recurring vs. Non-Recurring Revenue
JBT MAREL RECURRING VS. NON-RECURRING REVENUE As of June 30, 2025 QTD YTD Type of Good or Service (1) Recurring $ 485.1 $ 934.0 (1) Non-recurring 449.7 854.9 Total $ 934.8 $ 1,788.9 % of recurring 52% 52% (1) Aftermarket parts and services and revenue from lease and long-term service contracts are c
Slide 17: Reconciliation of Diluted EPS from Continuing Operations to Adjusted Diluted EPS Guidance
JBT MAREL RECONCILIATION OF DILUTED EPS FROM CONTINUING OPERATIONS TO ADJUSTED DILUTED EPS GUIDANCE Guidance (In cents) Full Year 2025 Diluted earnings per share from continuing operations ($1.90) - ($1.20) Non-GAAP adjustments: (1) Restructuring related costs 0.48 M&A related costs (2) 2.01 Acquire
Slide 18: Reconciliation of Income from Continuing Operations to Adjusted EBITDA Guidance
JBT MAREL RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA GUIDANCE Guidance (In millions) Full Year 2025 (Loss) from continuing operations ($100) - ($65) Income tax provision ($11) - ($9) (3) Pension expense, other than service cost ~$147 Interest expense, net $110 - $105 Othe