JBT Marel Corporation (NYSE: JBTM) reported first‑quarter 2026 revenue of $936 million, a 10 % year‑over‑year increase, and adjusted earnings per share of $1.58, beating the consensus estimate of $1.49 by $0.09. Adjusted EBITDA rose to $142 million, giving a margin of 15.2 %, up 210 basis points from the 13.0 % margin reported in Q1 2025. The company closed the quarter with a $1.49 billion backlog and generated $100 million in free cash flow, underscoring robust order intake and cash generation.
The Protein Solutions segment drove the majority of the revenue growth, reporting $460 million in sales—an 22 % year‑over‑year increase—and a 21.7 % adjusted EBITDA margin. In contrast, the Prepared Food & Beverage Solutions segment saw flat revenue and a 14.7 % margin, reflecting tariff‑related headwinds and lower volume in legacy product lines.
Compared with Q1 2025, revenue grew from $854 million to $936 million, while adjusted EPS increased from $0.97 to $1.58. The 27 % rise in adjusted EBITDA and the 210‑basis‑point margin expansion illustrate the company’s ability to translate higher sales into improved profitability, largely through volume leverage and realized synergy savings from the JBT‑Marel merger.
"We started 2026 on a positive note, marking the second consecutive quarter with inbound orders above $1 billion. Our orders reflected strong demand across our Prepared Food and Beverage Solutions and Protein Solutions segments," said CEO Brian Deck. CFO Matt Meister added, "We achieved meaningful year‑over‑year operational performance as we continued the margin expansion journey outlined in our strategy. Additionally, we generated quarterly free cash flow of $100 million, enabling us to further deleverage our balance sheet." He also noted, "Our first quarter consolidated revenue was $936 million, an increase of approximately 10 % year‑over‑year. Organic revenue growth was 4 %, with foreign exchange contributing an additional 6 %. Consolidated adjusted EBITDA of $142 million improved 27 %, and adjusted EBITDA margin of 15.2 % improved by 210 basis points."
JBT Marel reiterated its full‑year 2026 guidance, projecting revenue of $3.99 billion to $4.065 billion, an adjusted EBITDA margin of 17.0 % to 17.5 %, and adjusted EPS of $8.00 to $8.50. The guidance reflects management’s confidence in sustaining demand momentum, continuing synergy realization, and maintaining disciplined cost control, while also acknowledging the need to navigate tariff‑related challenges in the Prepared Food & Beverage segment.
The results reinforce the company’s strategic focus on the high‑margin Protein Solutions business and the NextGen initiative, which aims to deepen customer relationships and drive operational efficiencies. The continued backlog growth and free‑cash‑flow generation position JBT Marel to accelerate deleveraging, support future investment, and enhance shareholder value.
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