John Bean Technologies Corp (JBT) released its first quarter results on Tuesday, April 27, 2021. The company reported net earnings of $0.84 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 7 percent compared to the same period a year ago.
John Bean Technologies Corporation was incorporated in 1994 and is headquartered in Chicago, Illinois. John Bean Technologies Corporation provides technology solutions to food and beverage industry and equipment and services to air transportation industries. The company operates through JBT FoodTech and JBT AeroTech segments.
John Bean Technologies' revenue decreased 16 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 36.26% for the first quarter compared to the same period in the previous year, and operating margins decreased to 9.29% over the same period. Net earnings for past trailing twelve months were $106.8 million, down 23% from the prior year.
Moving on to the balance sheet, John Bean Technologies' cash levels dropped 24% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 25.39% this past year. The current ratio for John Bean Technologies now stands at 1.27. The company increased shares outstanding by 0.2%.
Shares of JBT are currently trading around $142.85. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 42.89 and price to book ratio of 6.82.