John Bean Technologies Corporation (NYSE:JBT) Q3 2024 Earnings Conference Call October 23, 2024 10:00 AM ET

Company Participants

Marlee Spangler - Director, Investor Relations
Brian Deck - President and Chief Executive Officer
Matthew Meister - Executive Vice President and Chief Financial Officer

Conference Call Participants

Mircea Dobre - Robert W. Baird & Co., Inc.
Ross Sparenblek - William Blair & Company
Walter Liptak - Seaport Global Securities LLC

Operator

Good morning, and welcome to JBT Corporation's Third Quarter 2024 Earnings Conference Call. My name is Perla, and I will be your conference operator today. As a reminder, today's call is being recorded. At this time, all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you.

I will now turn the call over to JBT's Director of Investor Relations, Marlee Spangler to begin today's conference.

Marlee Spangler

Thank you, Perla. Good morning, everyone, and welcome to our third quarter 2024 earnings conference call. With me on the call is our Chief Executive Officer, Brian Deck; and Chief Financial Officer, Matt Meister.

In today's call, we will use forward-looking statements that are subject to the safe harbor language in yesterday's press release and 8-K filing. JBT's periodic SEC filings also contain information regarding risk factors that may have an impact on our results. These documents are available in the Investor Relations section of our website.

Also, our discussion today includes references to certain non-GAAP measures. A reconciliation of these measures to the most comparable GAAP measure can be found in the Investor Relations section of our website.

Now I'll turn the call over to Brian.

Brian Deck

Thanks, Marlee, and good morning, everyone. We were very pleased with JBT's results for the third quarter. As expected, we posted double-digit year-over-year revenue growth and captured meaningful margin expansion. Moreover, we continue to generate strong orders and benefit from the ongoing recovery in demand from the global poultry end market.

Overall, our progress and performance in the third quarter reinforces our confidence in our full-year expectations of 3% to 5% revenue growth in 2024 and adjusted EBITDA growth of 10% at the midpoint of our guidance.

Matt will walk you through an analysis of the third quarter. He will also discuss the securing of commitments for financing the morale merger. Then I will speak about end market and geographic turns, discuss updates on the combination with Marel and provide some highlights on our exceptional automated guided vehicle business. Matt?