CHICAGO (AP) _ John Bean Technologies Corp. (JBT) on Wednesday reported first-quarter profit of $29 million.
On a per-share basis, the Chicago-based company said it had profit of 90 cents. Earnings, adjusted for one-time gains and costs, came to $1.01 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The food processing and transportation services company posted revenue of $457.7 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $424.3 million.
JBT shares have decreased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $85.06, a decrease of 16% in the last 12 months.