JBT Marel reported second-quarter 2026 revenue of $981 million and adjusted EBITDA of $168 million, delivering an adjusted EBITDA margin of 17.1% and adjusted diluted EPS of $1.95. GAAP net income for the quarter was $28 million (net income margin 2.9%) and diluted GAAP EPS was $0.54; results included a $33 million non-cash impairment charge. Orders exceeded $1 billion for the quarter and backlog stood at $1.54 billion at quarter-end, while net debt to trailing twelve months adjusted EBITDA was 2.47x.

Financial Highlights

  • Revenue: $981 million for Q2 2026.
  • Gross profit: $359 million; gross profit margin: 36.6% for Q2 2026.
  • Operating income: $46 million; operating income margin: 4.7% for Q2 2026.
  • Net income (GAAP): $28 million; net income margin: 2.9%; diluted GAAP EPS: $0.54.
  • Adjusted diluted EPS: $1.95; Adjusted EBITDA: $168 million; Adjusted EBITDA margin: 17.1% for Q2 2026.

Business Highlights

  • Orders: Inbound orders totaled $1.03 billion in Q2 2026, producing a book-to-bill ratio of ~1.05x and quarter-end backlog of $1.54 billion.
  • Segment performance: Protein Solutions revenue increased 11% year-over-year with segment adjusted EBITDA margin improving 350 basis points; Prepared Food and Beverage Solutions revenue was flat quarter-over-quarter, with margin pressured by logistics constraints and productivity inefficiencies tied to backlog-to-revenue conversion.
  • Integration and cost initiatives: Company expects $60 million of in-year realized savings from integration and synergy programs in 2026, alongside ongoing operational improvement efforts.
  • Balance sheet and liquidity actions: Net debt was $1,586 million and net debt / trailing twelve months adjusted EBITDA was 2.47x; Board authorized a share repurchase program of up to $200 million and the company repurchased ~200,000 shares for $26 million in Q2.
  • Cash flow and capital allocation: Year-to-date operating cash flow was $221 million and free cash flow was $179 million for the six months ended June 30, 2026.

Original SEC Filing:

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