JBT Marel Corp (MEX:JBTM)

Q4 2024 JBT Marel Corp Earnings Call Transcript

Feb 25, 2025 / 03:00 PM GMT

Transcript 10-K8-K

Key Points

Positve

JBT Marel Corp (JBTM) reported record orders totaling over $1 billion for the fourth quarter, indicating strong demand across various markets.
The integration of JBT and Marel is progressing well, with significant progress in organizational design expected to be complete by the end of March.
The company is focusing on a customer-centric commercial strategy, which is expected to enhance their value proposition and streamline their commercial presence.
JBT Marel Corp (JBTM) is seeing strong fundamentals in the poultry industry, with expectations for incremental investment in 2025.
The company has raised its expectations for cost synergies to an annual run rate savings of $150 million by the end of year three, up from the previous guidance of greater than $125 million.

Negative

The Asia Pacific region was an exception to the global order growth, indicating potential challenges in that market.
The beverage market was weaker through most of 2024 due to challenging industry fundamentals, although there was some pickup exiting the year.
There are macro concerns including potential retaliatory tariffs and the prospect of higher inflation, which could impact future performance.
The fourth quarter results came in at the lower end of guidance due to lower than expected volume on quick turn, book and ship revenue, and some delayed equipment shipments.
Higher than expected employee healthcare costs impacted expenses in the fourth quarter.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

JBTM.N - JBT Marel Corp
Q4 2024 JBT Marel Corp Earnings Call
Feb 25, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to JBT Morrell's earnings conference call for the 4th quarter and full year 2024. My name is Pam, and I will be your conference operator today. As a reminder, today's call is being recorded. At this time, all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session.

I will now turn the call over to JBT Marls, director of investor relations, Marlee Spangler to begin today's conference.

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Unidentified_2 [2]
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Thank you, Pam. Good morning, everyone, and thank

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