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JBT tops Street 1Q forecasts

CHICAGO (AP) _ John Bean Technologies Corp. (JBT) on Tuesday reported first-quarter earnings of $17.4 million.

On a per-share basis, the Chicago-based company said it had profit of 57 cents. Earnings, adjusted for restructuring costs and to account for discontinued operations, came to 59 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The food processing and transportation services company posted revenue of $344.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $318.4 million.

JBT expects full-year earnings to be $2.95 to $3.10 per share.

JBT shares have risen slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $92.35, a climb of 61 percent 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

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Keywords: John Bean, Earnings Report