JBT MAREL Corp

Listed Company

JBTMCIK 0001433660NYSELarge AcceleratedSpecial Industry Machinery (No Metalworking Machinery)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.80B

Net Income

$-50.50M

Total Assets

$8.19B

Equity

$4.46B

Shares Out

51.98M

Op. Cash Flow

$341.70M

Business

JBT Marel Corp is a global technology solutions and service provider to high-value segments of the food and beverage industry, designing, producing and servicing sophisticated equipment and systems that improve yields and operational efficiency. It offers primary, secondary and further processing equipment, robotic automated guided vehicle systems, software platforms (Axin), digital aftermarket subscriptions (OmniBlu™), parts, maintenance, consulting and full-line integrated processing and packaging solutions. The company operates through two principal segments, JBT and Marel, reflecting the legacy operations of each business. It serves customers worldwide via a direct global sales force, distributors, technical service teams and over 17 technical centers supporting installations in more than 100 countries.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	3,798	1,716	1,664	1,590	1,401
Cost of sales	2,464	1,090	1,079	1,061	—
Selling, general and administrative expense	1,116	507	410	390	—
Restructuring expense	29	1	11	7	5
Operating income	189	118	165	133	126
Pension expense, other than service cost	149	27	700,000	0	−1
Interest (income)	−11	−24	−13	4	4
Interest expense	114	19	24	16	11
Loss on investment	11	0	0	—	—
Other (income)	−11	0	0	—	—
(Loss) income from continuing operations before income taxes	−62	95	153	120	120
Income tax (benefit) provision	−13	11	24	16	27
Equity in net earnings of unconsolidated affiliate	−400,000	−100,000	−300,000	0	0
(Loss) income from continuing operations	−50	85	129	104	93
Loss (gain) from discontinued operations, net of income taxes	−800,000	800,000	453	34	27
Net (loss) income	−51	85	583	137	119
Continuing operations (in Dollars per share)	−0.96	2.65	4.04	3.24	2.89
Discontinued operations (in Dollars per share)	−0.02	0.02	14.17	1.05	0.83
Net income (in Dollars per share)	−0.98	2.67	18.21	4.29	3.72
Continuing operations (in Dollars per share)	−0.96	2.63	4.02	3.23	2.88
Discontinued operations (in Dollars per share)	−0.02	0.02	14.11	1.05	0.83
Net income (in Dollars per share)	−0.98	2.65	18.13	4.28	3.71
Basic (in Shares)	52	32	32	32	32
Diluted (in Shares)	52	32	32	32	32

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	168	1,228	483	72	79
Restricted cash	19	0	0	—	—
Trade receivables, net of allowances	443	240	214	201	239
Contract assets	119	95	75	65	94
Inventories	644	233	239	264	229
Other current assets	192	67	89	76	77
Total current assets	1,583	1,863	1,100	927	719
Property, plant and equipment, net of accumulated depreciation of $392.1 and $320.4, respectively	793	234	248	245	268
Goodwill	3,428	769	780	770	647
Intangible assets, net	2,122	341	389	430	343
Other assets	264	207	194	183	128
Total Assets	8,191	3,414	2,710	2,641	2,141
Short-term debt	412	0	—	—	—
Accounts payable, trade and other	262	131	135	171	186
Advance and progress payments	518	194	172	174	190
Accrued payroll	170	55	60	50	57
Other current liabilities	261	155	115	112	117
Total current liabilities	1,622	536	484	624	550
Long-term debt	1,470	1,252	646	977	674
Accrued pension and other post-retirement benefits, less current portion	21	19	25	32	58
Other liabilities	231	41	66	91	109
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued in 2025 or 2024	0	0	0	0	0
Common stock, $0.01 par value; 120,000,000 shares authorized; 2025: 51,974,355 issued and outstanding; 2024: 31,861,680 issued, and 31,843,794 outstanding	500,000	300,000	300,000	300,000	300,000
Common stock held in treasury, at cost; 2025: 0 shares; 2024: 17,886 shares	0	−2	−7	−5	0
Additional paid-in capital	2,717	234	228	221	214
Retained earnings	1,465	1,536	1,464	894	733
Accumulated other comprehensive income (loss)	281	−225	−196	−204	−197
Total stockholders equity	4,464	1,544	1,489	905	751
Total Liabilities and Stockholders Equity	8,191	3,414	2,710	2,641	2,141
Deferred Income Taxes and Other Tax Liabilities, Noncurrent	383	22	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	87	32	31	31	32
Amortization	179	58	61	46	40
Stock-based compensation	23	15	11	9	6
Pension and other post-retirement benefits expense	148	29	2	2	900,000
Deferred income taxes	−80	−26	−22	−19	−3
Loss on deal contingent hedge	0	42	0	0	—
Other	60	12	7	9	3
Trade receivables, net and contract assets	14	−59	−22	−28	−29
Inventories	−54	4	27	−47	−37
Accounts payable, trade and other	−16	600,000	−32	29	32
Advance and progress payments	21	32	−2	−8	46
Accrued pension and other post-retirement benefits, net	−5	−3	−12	−4	−13
Income taxes on gain from sale of AeroTech	0	0	−133	0	0
Other assets and liabilities, net	15	13	29	13	5
Cash provided by continuing operating activities	342	233	74	135	175
Acquisitions, net of cash acquired	−1,746	0	−100,000	−330	−225
(Payments) proceeds from discontinued operations	−100,000	−5	793	0	—
Investment in unconsolidated affiliate	0	0	−10	0	0
Capital expenditures	−104	−38	−55	−85	−52
Proceeds from disposal of assets	7	1	2	1	6
Purchase of marketable securities	0	0	−125	0	0
Proceeds from sale of marketable securities	0	0	125	0	0
Cash (required) provided by continuing investing activities	−1,843	−41	729	−413	−271
Net proceeds (payments) from short-term debt	1	0	−700,000	400,000	−3
Repayment of domestic credit facility	−2,382	0	−1,027	292	83
Repayment of Term Loan B	7	0	0	—	—
Repayment of Term Loan B	−8	−3	−2	−1	−2
Proceeds from issuance of 2030 convertible senior notes, net of debt issuance costs	559	0	0	0	391
Purchase of convertible bond hedge	−79	0	0	—	—
Proceeds from sale of warrants	51	0	0	0	30
Acquisition of noncontrolling interest of Marel	−24	0	0	—	—
Settlement of deal contingent hedge	−43	0	0	—	—
Proceeds from settlement of cross currency swaps	0	0	6	0	0
Common stock repurchases	0	0	−5	−8	0
Dividends	−21	−13	−13	−13	−13
Other	−2	−1	0	0	—
Cash provided (required) by continuing financing activities	458	562	−354	271	81
Net (decrease) increase in cash from continuing operations	−1,043	753	449	−7	−15
Cash provided (required) by operating activities of discontinued operations, net	0	1	−35	7	51
Cash required by investing activities of discontinued operations, net	0	0	−3	−3	−2
Net cash provided (required) by discontinued operations	0	1	−38	4	48
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	1	−9	−1	−3	−2
Net increase (decrease) in cash, cash equivalents and restricted cash	−1,042	745	410	−6	31
Interest paid	100	8	21	13	9
Non-cash investing in capital expenditures, accrued but not paid	4	600,000	4	12	9

Filings

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