Fri, Feb 28, 3:44 PM (58 days ago)
**JBT Marel Corporation (JBTM) 2024 Summary** In 2024, JBT Marel Corporation reported revenue of $1,716.0 million, a 3.1% increase from 2023, driven by stronger demand in poultry, warehouse automation, and fruit processing. Gross profit rose 7.0% to $626.5 million, with a gross margin improvement to 36.5%. However, net income fell 85.3% to $85.4 million, largely due to M&A costs related to the acquisition of Marel hf., which closed on January 2, 2025. The transaction, valued at $4.4 billion, significantly increased debt levels, with long-term debt reaching $1,252.1 million. Operating expenses surged by 23.7% to $506.7 million, influenced by restructuring and integration costs. JBTM's adjusted EBITDA rose 8.0% to $295.0 million, indicating operational resilience despite challenges. The company anticipates continued demand growth in 2025, particularly in aftermarket services. Key risks include integration challenges from the Marel acquisition, fluctuating raw material costs, and potential economic downturns affecting customer spending. The company maintains a strong liquidity position with $1.4 billion available, supporting ongoing operational needs and integration efforts.