$JBTM

John Bean Technologies CORP

CIK:0001433660|SEC Filings

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 981.0	$ 935.0	$ 1,917.0	$ 1,789.0
Operating expenses:
Cost of sales	622.0	600.0	1,229.0	1,162.0
Selling, general and administrative expense	313.0	287.0	574.0	612.0
Operating income	46.0	48.0	114.0	15.0
Pension expense, other than service cost	0.0	0.0	0.0	147.0
Loss on investment	0.0	11.0	0.0	11.0
Interest expense, net	13.0	29.0	23.0	70.0
Other income	(2.0)	(3.0)	(4.0)	(5.0)
Income (loss) before income taxes	35.0	11.0	95.0	(208.0)
Income tax provision (benefit)	7.0	8.0	22.0	(38.0)
Net income (loss)	$ 28.0	$ 3.0	$ 73.0	$ (170.0)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.54	$ 0.07	$ 1.40	$ (3.27)
Diluted (in dollars per share)	$ 0.54	$ 0.07	$ 1.40	$ (3.27)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 73	$ (170)
Adjustments to reconcile income (loss) to cash provided by operating activities:
Depreciation and amortization	134	143
Stock-based compensation	19	9
Impairment of intangible assets	33	0
Pension and other post-retirement benefits expense	0	148
Other, net	5	49
Changes in operating assets and liabilities:
Trade receivables, net and contract assets	(29)	31
Inventories	(60)	(65)
Accounts payable, trade and other	45	14
Advance and progress payments	51	27
Other assets and liabilities, net	(50)	(49)
Cash provided by operating activities	221	137
Cash flows from investing activities:
Acquisitions, net of cash acquired	0	(1,746)
Capital expenditures	(51)	(39)
Proceeds from disposal of assets	9	5
Cash required by investing activities	(42)	(1,780)
Cash flows from financing activities:
Repayment of domestic credit facility	(314)	(1,368)
Proceeds from domestic credit facility, net of debt issuance costs	712	1,114
Proceeds from Term Loan B, net of debt issuance costs	0	898
Repayment of Term Loan B	(202)	(2)
Repayment of 2026 Notes	(403)	0
Payment of debt issuance costs related to the Marel Transaction	0	(13)
Acquisition of noncontrolling interest of Marel	0	(24)
Settlement of taxes withheld on stock-based compensation awards	(10)	(8)
Settlement of deal contingent hedge	0	(43)
Dividends	(11)	(11)
Purchases of treasury stock	(26)	0
Cash (required) provided by financing activities	(254)	543
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	0	2
Net (decrease) increase in cash, cash equivalents and restricted cash	(75)	(1,098)
Add: Cash and cash equivalents from discontinued operations, beginning of period	187	1,228
Add: Cash and cash equivalents from discontinued operations, end of period	$ 112	$ 130

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Current Assets:
Cash and cash equivalents	$ 93	$ 168	$ 112
Restricted cash	19	19	18
Trade receivables, net of allowances	443	443
Contract assets	144	119
Inventories	700	644
Other current assets	215	190
Total current assets	1,614	1,583
Property, plant and equipment, net of accumulated depreciation of $423 and $392, respectively	773	793
Goodwill	3,385	3,428
Intangible assets, net	1,972	2,122
Other assets	262	265
Total Assets	8,006	8,191
Current Liabilities:
Short-term debt	9	412
Accounts payable, trade and other	300	262
Advance and progress payments	561	518
Accrued payroll	157	170
Other current liabilities	276	260
Total current liabilities	1,303	1,622
Long-term debt	1,670	1,470
Deferred tax liabilities	356	383
Other liabilities	205	252
Commitments and contingencies (Note 13)
Stockholders’ Equity:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; no shares issued in 2026 or 2025	0	0
Common stock, $0.01 par value; 120,000,000 shares authorized; June 30, 2026: 52,075,770 issued, and 51,875,970 outstanding; December 31, 2025: 51,974,355 issued and outstanding	1	1
Treasury stock, at cost June 30, 2026: 199,800 shares and December 31, 2025: 0 shares	(26)	0
Additional paid-in capital	2,726	2,717
Retained earnings	1,527	1,465
Accumulated other comprehensive income	244	281
Total stockholders’ equity	4,472	4,464	$ 4,374
Total Liabilities and Stockholders’ Equity	$ 8,006	$ 8,191