JBT Marel's Orders Soar, But Costs Cloud Profit

JBT Marel Corporation revealed its second-quarter 2026 financial performance on August 3, highlighting a significant increase in orders to $1.03 billion. This surge pushed the company's backlog to $1.54 billion. Revenue grew by 5% year over year to $981 million. The Protein Solutions segment was a strong performer, with revenue up 11% to $467 million and its adjusted EBITDA margin expanding by 350 basis points to 24%.

However, the financial report also detailed a $33 million non-cash impairment charge related to a 2021 acquisition, which impacted net income. The Prepared Food and Beverage Solutions segment reported flat revenue of $514 million and a slight slip in its adjusted EBITDA margin. Management attributed these challenges to logistics constraints and productivity inefficiencies as the company works through its order backlog.

Despite these mixed results, JBT Marel reaffirmed its full-year revenue guidance of $3.99 billion to $4.065 billion and adjusted EBITDA margin guidance of 17% to 17.5%. The company also reported its net debt to trailing twelve-month adjusted EBITDA ratio at 2.47x and repurchased approximately 200,000 shares for $26 million.