JBT Marel Reports Record Orders but Faces Cost Synergy and Impairment Drag
JBT Marel reported strong Q2 orders above $1 billion, a 1.05x book-to-bill ratio, and backlog of $1.54 billion, alongside 5% year-over-year revenue growth to $981 million. Adjusted EBITDA rose to $168 million and margins improved, led by Protein Solutions. The company expects $60 million cost synergies but recorded a $33 million non-cash impairment that lowered GAAP EPS and net income margin guidance while keeping revenue and adjusted EBITDA outlook unchanged.