John Bean Technologies reaffirms FY17 EPS view $2.95-$3.10, consensus $3.02
The company stated, "With a strong outlook for the second half of 2017, we are raising our full-year revenue guidance and maintaining the EPS guidance range of $2.95-$3.10 for FY17, while absorbing 6c dilution from PLF and AMSS." JBT is raising its revenue growth guidance to 19%-20% for the year, composed of 6%-7% organic growth and approximately 13% from acquisitions. Previously, the Company guided to a 16% revenue growth rate, with 4%-6% organic growth and 11% from acquisitions. At the same time, the Company expects segment margins to be flat to up 25 basis points, down from previous guidance of a 25 to 50 basis point expansion, primarily due to the two July acquisitions.