JBT Tech (JBT) Tops Q1 EPS by 10c

JBT Tech (NYSE: JBT) reported Q1 EPS of $0.27, $0.10 better than the analyst estimate of $0.17. Revenue for the quarter came in at $225 million versus the consensus estimate of $208.2 million.

JBT Tech sees FY2015 EPS of $1.65-$1.80, versus the consensus of $1.74.

"The benefits of our Next Level strategy are reflected in our strong first quarter results," said Tom Giacomini, Chairman, President and Chief Executive Officer. "We are capturing margin expansion from our organizational simplification and strategic pricing initiatives. Also, investments in our profitable aftermarket business and strategic acquisitions are enhancing our growth rate."

Orders and Backlog

In the first quarter of 2015, inbound orders of $305.9 million increased 17.2 percent and backlog declined slightly from the prior-year period. On a constant currency basis, inbound orders increased 24.0 percent.

2015 Outlook

The Company estimates foreign currency translation headwind of $0.15 per share, higher than the previous estimate of $0.10. Notwithstanding this pressure, the Company continues to project full year 2015 diluted earnings per share in the range of $1.65 - $1.80. As the Company pursues efforts to moderate seasonality of the business and improve operational efficiency, it expects the second and third quarters to be similar with heavier fourth quarter earnings. The Company expects this, along with the wind down of AeroTech's Halvorsen business, will put modest pressure on second quarter comparisons, on a year-over-year basis.

For earnings history and earnings-related data on JBT Tech (JBT) click here.

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