JBT Marel Corporation Reports 132.4% Revenue Growth in Q2 2025, Faces Net Income Decline

JBT Marel Corporation reported significant financial results for the second quarter of 2025, with total revenue reaching $934.8 million, a substantial increase of 132.4% compared to $402.3 million in the same period last year. The growth was primarily driven by the acquisition of Marel hf., which contributed $480.2 million in revenue. The JBT segment also saw organic revenue growth of 13% to $454.6 million, aided by increased volume in recurring revenue streams. However, the company experienced a net income of $3.4 million, a sharp decline from $30.7 million in the prior year, largely due to increased interest expenses and a loss on investment of $10.6 million.

For the first half of 2025, JBT Marel's total revenue was $1.788 billion, up 125.1% from $794.6 million in the same period of 2024. The JBT segment's revenue increased by 8.7% to $863.4 million, while Marel's revenue was $925.5 million. Despite the revenue growth, the company reported a loss from continuing operations of $169.6 million, compared to a profit of $53.4 million in the previous year. This loss was attributed to a significant increase in pension expenses, interest expenses, and costs associated with the Marel acquisition.

Strategically, JBT Marel completed the acquisition of Marel hf. on January 2, 2025, for approximately $4.182 billion, which included settling Marel's existing debt. This acquisition is expected to create a leading global food and beverage technology solutions provider by combining the strengths of both companies. The integration of Marel is ongoing, with the company working to establish internal reporting capabilities and realign its reportable segments. The acquisition is anticipated to yield synergies and cost savings, with cumulative savings expected to be between $50 million and $60 million.

Operationally, JBT Marel's employee headcount increased significantly following the acquisition, and the company is in the process of integrating Marel's operations. The company reported a total of $1.3 billion in liquidity as of June 30, 2025, which includes cash and available borrowing capacity under its revolving credit facilities. The company anticipates capital expenditures between $85 million and $95 million for 2025, alongside integration costs related to the Marel acquisition.

Looking ahead, JBT Marel expects its performance in the second half of 2025 to be influenced by evolving tariff costs and is taking proactive measures to mitigate these impacts. The company remains focused on leveraging its scale to expand margins and enhance its service offerings, while also navigating the challenges posed by market conditions and integration efforts.