CHICAGO (AP) — CHICAGO (AP) — JBT Marel Corporation (JBTM) on Monday reported first-quarter profit of $45 million.
On a per-share basis, the Chicago-based company said it had net income of 86 cents. Earnings, adjusted for one-time gains and costs, were $1.58 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The food processing and transportation services company posted revenue of $936 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $929.1 million.
JBT expects full-year earnings in the range of $8 to $8.50 per share, with revenue in the range of $3.99 billion to $4.07 billion.
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