CHICAGO (AP) — CHICAGO (AP) — JBT Marel Corporation (JBTM) on Monday reported a loss of $173 million in its first quarter.
The Chicago-based company said it had a loss of $3.35 per share. Earnings, adjusted for one-time gains and costs, came to 97 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The food processing and transportation services company posted revenue of $854.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $831.7 million.
For the current quarter ending in June, JBT expects its per-share earnings to range from $1.20 to $1.40.
The company said it expects revenue in the range of $885 million to $915 million for the fiscal second quarter.
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