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JBT: 3Q Earnings Snapshot

·1 min read

CHICAGO (AP) _ John Bean Technologies Corp. (JBT) on Tuesday reported third-quarter net income of $17.2 million.

The Chicago-based company said it had profit of 54 cents per share. Earnings, adjusted for one-time gains and costs, were 83 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The food processing and transportation services company posted revenue of $419.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $392 million.

For the current quarter ending in December, JBT expects its per-share earnings to range from 80 cents to 90 cents.

JBT shares have declined 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $83.78, a drop of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JBT at https://www.zacks.com/ap/JBT