John Bean Technologies Investor Presentation — July 2021

Document content

JBT Q2 2021 Earnings Call

Forward-Looking and Non-GAAP Statements

These slides and the accompanying presentation contain “forward -looking” statements,

including statements about management’s expectations regarding trends in the food and air

transportation markets, strategic initiatives, acquisition stra tegies and long-term goals, which

represent management’s best judgment as of the date hereof, bas ed on currently available

information. Actual results may differ materially from those co ntained in such forward-looking

JBT Corporation’s (the “Company”) most recent Annual Report on Form 10-K and subsequent

Quarterly Reports on Form 10-Q, f iled with the Securities and E xchange Commission, include

information concerning risks and uncertainties, including the f actors set forth under “Item 1A.

Risk Factors”, that may cause actual results to differ from tho se anticipated by these forward-

looking statements. The Company undertakes no obligation to upd ate or revise these forward-

looking statements to reflect new events or uncertainties.

Non-GAAP financial measures are provided to enhance investors’ overall understanding of

JBT’s financial performance by eliminating effects of certain i tems that are not comparable

from one period to the next. In addition, this information is u sed by management as a basis for

evaluating performance and for the planning and forecasting of future periods. This

information is not intended to be a substitute for, nor should it be considered in isolation of,

financial measures prepared in accordance with U.S. GAAP.3

Key Takeaways From Second Quarter 2021

Capturing Robust Demand

•We outperformed our expectations in terms of revenue (largely due to better than expected shipments) and earnings, and generated record orders

•Material cost inflation, supply chain disruptions and now labor costs and shortages have intensified

•Demand from retail remains strong and the recovery in foodservice is accelerating

•We continue to see encouraging signs of recovery at AeroTechStrong Cash Flow

Generation Continues

•Strong free cash flow performance in the quarter

•Continued good collection of AR and customer deposits, and a slower than expected investment in inventory due to supply chain constraints

•We anticipate that the balance sheet will expand in the second half of the year

•We expect free cash flow conversion for the year to remain north of 100 percentFocused on Organic

Preview truncated — download the full document for the complete content.