Record Revenue and Earnings
JBT Marel significantly exceeded expectations for revenue and earnings in Q3 2025. Total revenue was approximately $1 billion, a 7% sequential increase, exceeding expectations by $65 million.
Increased Orders and Backlog
JBT Marel's orders were $946 million, a 7% increase from the prior year, with strong demand in the poultry, pet food, and pharmaceutical industries. The backlog ended at $1.3 billion.
Improved EBITDA Margin
Adjusted EBITDA margin was 17.1%, exceeding expectations by 140 basis points due to favorable mix and synergy savings.
Deleveraging Progress
Financial leverage decreased from 4x to 3.1x, with expectations to be below 3x by year-end. Issued $575 million senior convertible notes, prefunding upcoming debt.
Synergy Savings and Integration
Achieved $14 million in Q3 synergy savings with expectations for $40-$45 million in-year savings. Integration of JBT and Marel is on track.