Strong Operational Performance & Acquisitions Should Drive 20% EPS Growth
- John Bean Technologies (JBT), a global leader in food processing and air transportation solutions, is primarily a food processing equipment company, which now generates over 70% of operating income.
- Revitalized under new management, EPS is projected up 21% in 2017 to a record $3.09 and a further 19% in 2018.
- Approximately 38% of revenue is recurring, given JBT’s large installed base.
- Emerging markets are a long-term growth driver at 20%-to-25% of sales as JBT follows its customers overseas.
- As it is owned by only 9% of the institutional universe that owns Apple (the most widely‑held institutional name) and covered by only four other sell-side firms, JBT offers discovery potential and thus P/E expansion.
John Bean Technologies is a technology solutions provider to the food and beverage industry with focus on proteins, liquid foods and automated system solutions. The company also sells critical equipment and services to domestic and international air transportation customers. The products offerings of the company's FoodTech businesses include food processing systems to protein customers, liquid foods portfolio such as fruit and juice solutions, and robotic automated guided vehicle systems. The product offerings of the company's AeroTech businesses include mobile air transportation equipment, gate equipment for passenger boarding, and airport services such as maintenance of airport equipment, systems and facilities.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
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