JBT Marel | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 981 M

Revenue: As of FY2026 Q2, the actual value is USD 981 M, missing the estimate of USD 988.46 M.

EPS: As of FY2026 Q2, the actual value is USD 0.54, missing the estimate of USD 1.1083.

EBIT: As of FY2026 Q2, the actual value is USD 48 M.

Second Quarter 2026 Highlights

JBT Marel Corporation reported orders exceeding $1 billion, with revenue at $981 million, resulting in a book-to-bill ratio of 1.05x. The net income margin was 2.9 percent, and adjusted EBITDA margin was 17.1 percent. The company’s leverage ratio was just below 2.5x, falling within the long-term target range of 2.0 - 2.5x.

Consolidated Results (Three Months Ended June 30, 2026)

Consolidated revenue was $981 million, an increase of 5 percent year-over-year, including approximately 2 percent benefit from foreign exchange translation. Net income reached $28 million, an increase of $25 million from the prior year, with the net income margin improving by 250 basis points to 2.9 percent. This net income figure included a - $33 million non-cash, non-recurring impairment charge. Consolidated adjusted EBITDA increased by $12 million to $168 million, and the adjusted EBITDA margin improved by 40 basis points to 17.1 percent. Orders totaled $1.03 billion, inclusive of approximately $16 million in a year-over-year benefit from foreign exchange translation, and the quarter-ending backlog stood at $1.54 billion.

Consolidated Results (Six Months Ended June 30, 2026 vs. 2025)

Revenue

• 2026: $1,917 million
• 2025: $1,789 million

Cost of Sales

• 2026: $1,229 million
• 2025: $1,162 million

Gross Profit

• 2026: $688 million
• 2025: $627 million

Gross Profit Margin

• 2026: 35.9%
• 2025: 35.0%

Selling, General and Administrative Expense

• 2026: $574 million
• 2025: $612 million

Operating Income

• 2026: $114 million
• 2025: $15 million

Operating Income Margin

• 2026: 5.9%
• 2025: 0.8%

Interest Expense, Net

• 2026: $23 million
• 2025: $70 million

Other Income

• 2026: - $4 million
• 2025: - $5 million

Income Before Income Taxes

• 2026: $95 million
• 2025: - $208 million

Income Tax Provision (Benefit)

• 2026: $22 million
• 2025: - $38 million

Net Income

• 2026: $73 million
• 2025: - $170 million

Adjusted Income

• 2026: $185 million
• 2025: $128 million

Adjusted EBITDA

• 2026: $310 million
• 2025: $268 million

Adjusted EBITDA Margin

• 2026: 16.2%
• 2025: 15.0%

Inbound Orders

• 2026: $2,100 million
• 2025: $1,854 million

Orders Backlog

• 2026: $1,536 million
• 2025: $1,394 million

Cash Flow (Six Months Ended June 30, 2026)

Operating cash flow was $221 million, and free cash flow was $179 million.

Segment Results (Three Months Ended June 30, 2026)

Protein Solutions

Segment revenue was $467 million, an 11 percent increase, including approximately 3 percent year-over-year benefit from foreign exchange translation. Segment adjusted EBITDA was $112 million, and segment adjusted EBITDA margin improved 350 basis points to 24.0%.

Prepared Food and Beverage Solutions

Segment revenue was $514 million, remaining flat year-over-year, including approximately 2 percent benefit from foreign exchange translation. Segment adjusted EBITDA was $90 million, and segment adjusted EBITDA margin declined 70 basis points to 17.5%.

Segment Results (Six Months Ended June 30, 2026 vs. 2025)

Protein Solutions

• Revenue 2026: $927 million
• Revenue 2025: $799 million
• Segment Adjusted EBITDA 2026: $212 million
• Segment Adjusted EBITDA 2025: $149 million

Prepared Food and Beverage Solutions

• Revenue 2026: $990 million
• Revenue 2025: $990 million
• Segment Adjusted EBITDA 2026: $160 million
• Segment Adjusted EBITDA 2025: $172 million

Other Financial Metrics

As of June 30, 2026, JBT Marel Corporation’s net debt to trailing twelve months adjusted EBITDA was 2.47x. During the second quarter of 2026, the company repurchased approximately 200,000 shares of common stock for $26 million.

Outlook / Guidance (Full Year 2026)

JBT Marel Corporation reiterates its full year 2026 guidance, expecting consolidated revenue growth of 5 - 7 percent, inclusive of approximately 1.5 percent foreign exchange translation benefit, and an adjusted EBITDA margin between 17.0% and 17.5%. The company has refined its guidance for adjusted EPS to $7.85 - $8.35 and updated GAAP EPS to $4.20 - $4.70 to reflect updated assumptions and a - $33 million non-cash impairment charge. Net income margin is projected to be between 5.5% and 6.0%.