JBT Earnings Miss Projections

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CHICAGO (AP)  John Bean Technologies Corp. on Wednesday reported second-quarter earnings of $33.4 million.

The Chicago-based company said it had net income of $1.04 per share. Earnings, adjusted for one-time gains and costs, were $1.13 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The food processing and transportation services company posted revenue of $542.3 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $554.4 million.

For the current quarter ending in October, JBT expects its per-share earnings to range from $1.15 to $1.30.

The company expects full-year earnings in the range of $4.90 to $5.10 per share.

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