Acquisitions Have John Bean Technologies Looking Skyward
It's hard enough for a business to do one thing well, but when a company has two focus areas, it's an even bigger task to execute well. John Bean Technologies (NYSE: JBT) brings together two very different businesses, with airport ground support equipment like jetway bridges and tow tractors in its AeroTech division and food processing equipment and other food-related machinery for its FoodTech unit. That marriage has worked well over time, and JBT hopes to keep pushing both sides of the business to grow even faster in the future.
Coming into Monday's second-quarter financial report, JBT investors were hoping that the company would be able to bounce back from a slight setback last quarter, although they expected a slight decline in earnings from year-ago levels. JBT largely satisfied its shareholders with its results, and multiple acquisitions that it has announced today and earlier this month could stoke even hotter growth fires going forward. Let's take a closer look at JBT and what its latest results mean for the company's future.
Image source: John Bean Technologies.
Source: Fool.com
