Latest news with #Deck
Yahoo
22-05-2025
- Business
- Yahoo
IQST - IQSTEL Releases New Investor Deck as Invitation for Long-Term Shareholders to Enter the Open Market
NEW YORK, May 22, 2025 /PRNewswire/ -- IQSTEL Inc. (NASDAQ: IQST), a rapidly growing multinational telecom and technology company, today announced the release of its updated Investor Deck, which will also be filed with the SEC via an 8-K. This release marks a key component of the company's long-term strategy to build market awareness, increase shareholder engagement, and attract institutional and family office investors to enter the public market as long-term shareholders. The updated Investor Deck is designed as a transparent, comprehensive tool for investors to better understand IQSTEL's business model, financial health, growth vision, and path to becoming a $1 billion revenue company by 2027. It outlines the company's operations across telecom, high-tech telecom services (eSIM, roaming, cloud), fintech, AI telecom platforms, and cybersecurity—spanning more than 20 countries with over 600 global business relationships. The investor deck highlights IQSTEL's transformation from a telecom operator into a high-margin, scalable technology platform. The presentation also outlines key financial benchmarks, including a $340 million revenue forecast for 2025 and a $400 million year-end revenue run rate target, with 20% of that mix coming from high-tech services such as fintech, AI, and cybersecurity. These metrics underscore the company's scalable model and support its goal to achieve $1 billion in annual revenue by 2027. Leandro Iglesias, CEO of IQSTEL, commented:"We have big plans for IQSTEL. As a newly listed company on NASDAQ, we believe it's critical to amplify our visibility and communicate clearly with the investment community. Our updated investor deck tells the story of how we're growing fast, how we're already profitable in telecom, and how we're now expanding into high-margin tech verticals. We want family offices, funds, and long-term investors to study our plan, understand our value, and take action—by building positions in the open market." Unlike many small-cap companies, IQSTEL is not under dilution pressure. The company completed its NASDAQ uplisting through a direct listing without raising capital, and all convertible instruments mature in Q1 2026. This structure supports stability and protects existing shareholders while enhancing long-term value. A Strategic Push for Investor Visibility The release of the Investor Deck also coincides with IQSTEL's broader capital market strategy: to create new demand from high-conviction investors who understand and support the company's roadmap. The goal is to increase the number of quality shareholders purchasing IQSTEL shares in the open market and holding long-term positions as the company scales. Any investor interested in receiving the updated Investor Deck can download it from the 8-K filing on the SEC's EDGAR system or request a copy directly by emailing investors@ About IQSTEL Inc. IQSTEL Inc. (NASDAQ: IQST) is a multinational technology company providing advanced solutions across Telecom, High-Tech Telecom Services, Fintech, AI-Powered Telecom Platforms, and Cybersecurity. With operations in 21 countries and a team of 100 employees, IQSTEL serves a broad global customer base with high-value, high-margin services. Backed by a strong and scalable business platform, the company is forecasting $340 million in revenue for FY-2025, reinforcing its trajectory toward becoming a $1 billion tech-driven enterprise by 2027. Use of Non-GAAP Financial Measures: The Company uses certain financial calculations such as Adjusted EBITDA, Return on Assets and Return on Equity as factors in the measurement and evaluation of the Company's operating performance and period-over-period growth. The Company derives these financial calculations on the basis of methodologies other than generally accepted accounting principles ("GAAP"), primarily by excluding from a comparable GAAP measure certain items the Company does not consider to be representative of its actual operating performance. These financial calculations are "non-GAAP financial measures" as defined under the SEC rules. The Company uses these non-GAAP financial measures in operating its business because management believes they are less susceptible to variances in actual operating performance that can result from the excluded items, other infrequent charges and currency fluctuations. The Company presents these financial measures to investors because management believes they are useful to investors in evaluating the primary factors that drive the Company's core operating performance and provide greater transparency into the Company's results of operations. However, items that are excluded and other adjustments and assumptions that are made in calculating these non-GAAP financial measures are significant components in understanding and assessing the Company's financial performance. These non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, the Company's GAAP financial measures. Further, because these non-GAAP financial measures are not determined in accordance with GAAP, and are thus susceptible to varying calculations, the non-GAAP financial measures, as presented, may not be comparable to other similarly-titled measures of other companies. Adjusted EBITDA is not a recognized accounting measurement under GAAP; it should not be considered as an alternative to net income, as a measure of operating results, or as an alternative to cash flow as a measure of liquidity. It is presented here not as an alternative to net income, but rather as a measure of the Company's operating performance. Adjusted EBITDA excludes, in addition to non-operational expenses like interest expenses, taxes, depreciation and amortization; items that we believe are not indicative of our operating performance, such as: Change in Fair Value of Derivative Liabilities: These adjustments reflect unrealized gains or losses that are non-operational and subject to market volatility. Loss on Settlement of Debt: This represents non-recurring expenses associated with specific financing activities and does not impact ongoing business operations. Stock-Based Compensation: As a non-cash expense, this adjustment eliminates variability caused by equity-based incentives. The Company believes Adjusted EBITDA offers a clearer view of the cash-generating potential of its business, excluding non-recurring, non-cash, and non-operational impacts. Management believes that Adjusted EBITDA is useful in evaluating the Company's operating performance compared to that of other companies in its industry because the calculation of Adjusted EBITDA generally eliminates the effects of financing, income taxes, non-cash and certain other items that may vary for different companies for reasons unrelated to overall operating performance and also believes this information is useful to investors. Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. Words such as "anticipate," "believe," "estimate," "expect," "intend", "could" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our ability to complete complementary acquisitions and dispositions that benefit our company; our success establishing and maintaining collaborative, strategic alliance agreements with our industry partners; our ability to comply with applicable regulations; our ability to secure capital when needed; and the other risks and uncertainties described in our prior filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and IQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release. For more information, please visit View original content to download multimedia: SOURCE iQSTEL
Business Wire
20-05-2025
- Business
- Business Wire
Corsair Dominates at Computex Led by Exciting New Suite of Products Compatible With the Latest GPU Cards From NVIDIA and AMD
MILPITAS, Calif.--(BUSINESS WIRE)--Corsair Gaming, Inc. (Nasdaq: CRSR) ('Corsair' or the 'Company'), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, and gaming PC builders, is showcasing at Computex an exciting new suite of products, bringing powerful, efficient and customizable options that feature compatibility with the latest GPU cards from NVIDIA and AMD. This marks one of Corsair's strongest Computex product line-ups ever, highlighting its continued execution and leadership, gaming market share gains, as well as strengthening of the Company's ecosystem. This marks one of Corsair's strongest Computex product line-ups ever, highlighting its continued execution and leadership, gaming market share gains, as well as strengthening of the Company's ecosystem. Share Award Winning Stream Deck Now Everywhere – Elgato's award-winning Stream Deck is a powerful, highly-innovative, easily customizable control panel with visual shortcut keys that allow users to instantly access complex functions, making it a popular hit among gamers, streamers, content-creators, business users and more. Corsair's Elgato, a leading provider of content creation tools, announced an expansion of its 'Stream Deck Everywhere' ecosystem, making it an even more powerful platform with four new innovations: Stream Deck Module, an entry level version of the best-selling consumer product, enables hobbyists, entrepreneurs, and manufacturers to embed the iconic technology in their projects. Network Dock unlocks wired Ethernet connectivity for Stream Deck devices, empowering users to extend their control surface beyond the desktop to custom installations. Virtual Stream Deck, a transformative, software-only version of Stream Deck that brings powerful, customizable control to any screen. Users can now create fully interactive control pads anywhere on their desktop—fixed in place for quick access or summoned with a mouse click or hotkey. Scissor-switch key variant of Stream Deck MK.2 offers a faster alternative to the membrane design. The new switches offer enhanced speed and precision for high-frequency tasks. Learn more on To complement the ecosystem growth, Corsair also revealed new Virtual Stream Deck integrations for its SCIMITAR ELITE WIRELESS SE mouse. In addition to an upgraded 33K DPI MARKSMAN S Sensor and enhanced battery life, it offers gamers quick, effortless control of their hardware and apps like Discord, Adobe Photoshop or OBS Studio. SCIMITAR ELITE WIRELESS SE owners can now map Virtual Stream Deck actions directly to their mouse's 12-button Key Slider™. Easy to Build and Great Looking PC Cases – Corsair continues to innovate and deliver a better build experience for both novice and seasoned builders. Specifically designed to be compatible with the latest GPU cards from NVIDIA and AMD, Corsair brings the ultimate in functionality, aesthetic, performance and future-proofing, with better cable management and performance. FRAME 5000D supports reverse connection motherboards and offers a wealth of customization options, thanks to its compatibility with the FRAME Modular Case System. FRAME 4500X allows for the removal of the barrier between users and their most high-powered components. It showcases hardware with a seamless, wraparound view thanks to a single piece curved glass panel covering both the front and side. CORSAIR AIR 5400 features a distinct multi-zone layout that delivers exceptional cooling along with a radical new look for DIY PCs. Custom Keyboard for those who Seek Perfection and Personality Flex – Whether you spending hours playing GTA 6 or creating content, Corsair's peripherals continue to set the standard with award winning personalization and functionality. MAKR 75 Barebones Keyboard Kit offers the best parts of bespoke Custom keyboards and pre-built, performance-focused gaming keyboards. Users can use the CORSAIR Web App to set RGB lighting effects, remap keys, and record macros all via the internet. This is part of Corsair's push to simplify customization and provide options for its customers. Power Supplies, Fans and Coolers – The latest GPU cards demand the advanced cooling and improved air flow. Corsair further builds on its history of leadership and innovation with the advanced cooling solutions essential for performance, safety and longevity. HXi SHIFT power supplies feature an integrated iCUE LINK System Hub to provide full control of iCUE LINK compatible lighting and cooling devices, side-mounted SHIFT connectors, Cybenetics Platinum efficiency, and a native 600W-capable 12V-2x6 cable. RMx SHIFT power supplies provide accessible, efficient power with a native 600W-capable 12V-2x6 cable, side-mounted modular connectors, adjustable fan speed, and Japanese capacitors. SRS-R ARGB 120mm PWM Reverse Fans Triple Pack offers efficient cooling, vibrant lighting, quiet magnetic dome bearings, and silent Zero RPM mode with easy daisy-chained connections and control (ideal for fishbowl cases.) NAUTILUS RS LCD Liquid CPU Cooler is available as a replacement pump cap for existing owners and as a standalone AIO cooler with the LCD screen pre-installed. Pre-Built Gaming PCs – For all those that wanting to game, stream and create, Corsair's pre-built gaming PCs boast the latest GPU cards with elite computing performance, along with Plug-and-Play convenience and ease of use. CORSAIR ONE a300 Metal Dark small-form-factor PC has been designed for the all-new Nvidia® RTX 50 Series and features dual 240mm radiators, liquid-cooled for improved, while keeping noise levels down. About Corsair Gaming Corsair (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance products and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best. Corsair also sells products under its Fanatec brand, the leading end-to-end premium Sim Racing product line; Elgato brand, which provides premium studio equipment and accessories for content creators; SCUF Gaming brand, which builds custom-designed controllers for competitive gamers; Drop, the leading community-driven mechanical keyboard brand; and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs. Forward-Looking Statements This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company's financial outlook for the full year 2025; market headwinds and tailwinds, including its expectations regarding the gaming market's continued growth; new product launches, the entry into new product categories and demand for new products; the Company's ability to successfully close and integrate acquisitions and expectations regarding the growth of these acquisitions as well as their estimated impact on the Company's financial results in future periods and the size of markets and segments in the future. Forward-looking statements are based on our management's beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: the Company's limited operating history, which makes it difficult to forecast the Company's future results of operations; current macroeconomic conditions, including the impacts of high inflation and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed on U.S. imports and our ability to mitigate; the Company's ability to build and maintain the strength of the Company's brand among gaming and streaming enthusiasts and ability to continuously develop and successfully market new products and improvements to existing products; the introduction and success of new third-party high-performance computer hardware, particularly graphics processing units and central processing units as well as sophisticated new video games; fluctuations in operating results; the loss or inability to attract and retain key management; the impacts from geopolitical events and unrest; delays or disruptions at the Company or third-parties' manufacturing and distribution facilities; and the other factors described under the heading 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission ('SEC') and our subsequent filings with the SEC. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Our results for the quarter ended March 31, 2025, are also not necessarily indicative of our operating results for any future periods.
Yahoo
09-05-2025
- General
- Yahoo
Much like L.A., this American-born pope transcends borders
The faithful in Los Angeles, America's most Catholic city, were delighted — and a little stunned — Thursday to learn a Chicago-born priest with deep roots in Peru had been elected to lead the world's 1.4 billion Catholics. The elevation of Cardinal Robert Francis Prevost, 69, to pope marks the first time someone from the U.S. has been entrusted with what is arguably the highest-profile position in global religion. It was an outcome that caught many followers of the Catholic Church, which has been shifting its focus away from its shrinking base in Europe to the growing number of faithful in the global south, completely by surprise. 'I had kind of discounted it, because, you know, we didn't think that an American would necessarily be a good idea,' given the amount of power and influence the U.S. already wields in the world, said Father Allan Deck, a theology professor at Loyola Marymount University in Los Angeles. But because Prevost, who has chosen to be called Pope Leo XIV, spent decades serving the church in South America and had risen to leadership of an international religious order known as the Augustinians, Deck said he's uniquely positioned to unify Catholics around the globe. He might also inspire a resurgence of the faith in the United States, where many parish pews have been sparsely populated for decades. 'The choice is absolutely inspirational; I am thrilled,' Deck said. The announcement was doubly sweet for Carolina Guevara, chief communications officer for the L.A. Archdiocese, who was in Piura, Peru, celebrating her grandmother's 105th birthday when the new pope was announced. "It's really a reflection of our immigrant church to have a pope who is Peruvian and American," Guevara said. "To hear him break the tradition and speak in Spanish to address his hometown — that was such a beautiful moment as well. That filled our hearts." For Catholic Angelenos, and Peruvian immigrants in particular, "there's going to be a sense of great joy," she said. And much like metropolitan Los Angeles, it's hard to overstate just how cosmopolitan the new pope is. He was born in Chicago to a father of Italian and French ancestry and a mother of Spanish ancestry. He pursued his education in the U.S. and Italy. He is a naturalized citizen of Peru, where he was a priest for 20 years. He speaks English, Italian, Spanish, Portuguese and French. His diverse background and broad exposure to different cultures had California's Catholic community buzzing with excitement, hope and a sense of familiarity. 'He really understands what is the reality of the different cultures of the United States," said Los Angeles Archbishop José H. Gomez. "Those cultures are a real blessing for us.' Joseph Tomás Mckellar, director of Pico California, a large faith-based community-organizing network, was euphoric Thursday morning, minutes after Prevost finished his first speech as pope from the balcony overlooking St. Peter's Square in Vatican City. 'I'm so emotional, I'm just kind of shaking,' he said. 'What we have is a pope who is a bridge builder, who is going to carry on in the footsteps of Pope Francis and ensure the church is proximate to those who are most excluded, who are on the margins, who feel lost in the turbulent times in our world.' 'The fact that they selected an American who went out [into the world] says something about the priorities of the church,' Mckellar added. Those priorities had to change because the church itself is changing so quickly. Once firmly anchored in Rome and drawing its top leaders from Europe, the Catholic Church has seen its parishioner numbers shrink in countries such as Italy and Spain, and barely hold steady in most of the United States. The real growth is almost exclusively in the Southern Hemisphere — where the church still dominates culture, politics and many aspects of daily life. For example, Brazil has more than 120 million Catholics, accounting for more than half the population. In Mexico, nearly 100 million Catholics make up more than 70% of the population. And in the Philippines, more than 75 million Catholics account for greater than 80% of the population, according to the Catholic World Mission. So when an Argentinian cardinal was elected pope in 2013, many in the church hailed it as a welcome, almost inevitable evolution. That was until Pope Francis, as he chose to be called, started acting in unpredictable ways. He repudiated the luxurious trappings favored by some cardinals, and his hands-on devotion to the poor broke with many long-standing traditions, and added a populist flair to others. For example, on Holy Thursday, popes traditionally washed the feet of 12 male priests, a show of humility meant to echo Jesus' washing the feet of his disciples the night before he died. Pope Francis shocked conservatives when he expanded the ritual, moving it outside the confines of the Vatican and making it a symbol of inclusion, washing the feet of prisoners, women and Muslims. Francis created positions of authority for women, including putting a nun in charge of a major Vatican office for the first time in the church's 2,000-year history. And while maintaining the church's long-standing tenet that gay sex is sinful, he said that merely being gay is not a crime and met with LGBTQ+ people from around the world. Progressives in the church hope Pope Leo will continue where Francis left off. Leo has been criticized for previous comments about the LGBTQ+ community, Mckellar said, but he trusts the new pope will continue in Francis' footsteps. 'I cannot imagine that he is not going to build on the opening of the doors of mercy, and welcome all people, including our LGBTQ+ siblings,' Mckellar said. Others questioned whether the new pope will have the charm and social media savvy required to perform as the front man for Christianity. 'One thing we still don't know about Leo is whether he has the personality for the modern papacy,' said Richard Wood, president of the Institute for Advanced Catholic Studies at USC. 'I think his humility comes across loud and clear, but does he have the charisma Francis had for the social media age? I suspect it will be a quieter version of that, if he has it.' He'll face other challenges as well. Wood pointed out that the Vatican is in real financial trouble. 'The Vatican has lost a lot of its American, European, African and Asian donors. Can he bring them back to the table?' he asked. 'The church is rightly concerned with preaching the Gospels, but it is also a worldly institution that has to pay its bills, and the new pope can help solve some of that.' Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Los Angeles Times
08-05-2025
- General
- Los Angeles Times
Much like L.A., this American-born pope transcends borders
The faithful in Los Angeles, America's most Catholic city, were delighted — and a little stunned — Thursday to learn a Chicago-born priest with deep roots in Peru had been elected to lead the world's 1.4 billion Catholics. The surprising elevation of Cardinal Robert Francis Prevost, 69, to pope marks the first time someone from the U.S. has been entrusted with what is arguably the highest-profile position in global religion. It was an outcome that caught many followers of the Catholic Church, which has been shifting its focus away from its shrinking base in Europe to the growing number of faithful in the global south, completely by surprise. 'I had kind of discounted it, because, you know, we didn't think that an American would necessarily be a good idea,' given the amount of power and influence the U.S. already wields in the world, said Father Allan Deck, a theology professor at Loyola Marymount University in Los Angeles. But because Prevost, who has chosen to be called Pope Leo XIV, spent decades serving the church in South America and had risen to leadership of an international religious order known as the Augustinians, Deck said he's uniquely positioned to unify Catholics around the globe. He might also inspire a resurgence of the faith in the United States, where many parish pews have been sparsely populated for decades. 'The choice is absolutely inspirational; I am thrilled,' Deck said. The announcement was doubly sweet for Carolina Guevara, chief communications officer for the L.A. Archdiocese, who was in Piura, Peru, celebrating her grandmother's 105th birthday when the new pope was announced. 'It's really a reflection of our immigrant church to have a pope who is Peruvian and American,' Guevara said. 'To hear him break the tradition and speak in Spanish to address his hometown — that was such a beautiful moment as well. That filled our hearts.' For Catholic Angelenos, and Peruvian immigrants in particular, 'there's going to be a sense of great joy' she said. And much like metropolitan Los Angeles, it's hard to overstate just how international in scope the new pope is. He was born in Chicago to a father of Italian and French ancestry and a mother of Spanish ancestry. He pursued his education in the U.S. and Italy. He is a naturalized citizen of Peru, where he was a priest for 20 years. He speaks English, Italian, Spanish, Latin and French. His diverse background and broad exposure to different cultures had California's Catholic community buzzing with excitement, hope and a sense of familiarity. 'He really understands what is the reality of the different cultures of the Unites States,' said Los Angeles Archbishop José H. Gomez. 'Those cultures are a real blessing for us.' Joseph Tomás Mckellar, director of Pico California, a large faith-based community-organizing network, was euphoric Thursday morning, minutes after Prevost finished his first speech as pope from the balcony overlooking St. Peter's Square in Vatican City. 'I'm so emotional, I'm just kind of shaking,' he said. 'What we have is a pope who is a bridge builder, who is going to carry on in the footsteps of Pope Francis and ensure the church is proximate to those who are most excluded, who are on the margins, who feel lost in the turbulent times in our world.' 'The fact that they selected an American who went out [into the world] says something about the priorities of the church,' Mckellar added. Those priorities had to change because the church, itself, is changing so quickly. Once firmly anchored in Rome and drawing its top leaders from Europe, the Catholic Church has seen its parishioner numbers shrink in countries such as Italy and Spain, and barely hold steady in most of the United States. The real growth is almost exclusively in the Southern Hemisphere — where the church still dominates culture, politics and many aspects of daily life. For example, Brazil has more than 120 million Catholics, accounting for more than half the population. In Mexico, nearly 100 million Catholics make up more than 70% of the population. And in the Philippines, more than 75 million Catholics account for greater than 80% of the population, according to the Catholic World Mission. So when an Argentinian cardinal was elected pope in 2013, many in the church hailed it as a welcome, almost inevitable evolution. That was until Pope Francis, as he chose to be called, started acting in unpredictable ways. He repudiated the luxurious trappings favored by some cardinals, and his hands-on devotion to the poor broke with many longstanding traditions, and added a populist flare to others. For example, on Holy Thursday, popes traditionally washed the feet of 12 male priests, a show of humility meant to echo Jesus' washing the feet of his disciples the night before he died. Pope Francis shocked conservatives when he expanded the ritual, moving it outside the confines of the Vatican and making it a symbol of inclusion, washing the feet of prisoners, women and Muslims. Francis created positions of authority for women, including putting a nun in charge of a major Vatican office for the first time in the church's 2,000-year history. And while maintaining the church's longstanding tenet that gay sex is sinful, he said that merely being gay is not a crime and met with LGBTQ+ people from around the world. Progressives in the church hope Pope Leo will continue where Francis left off. Leo has been criticized for previous comments about the LGBTQ+ community, Mckellar said, but he trusts the new pope will continue in Francis' footsteps. 'I cannot imagine that he is not going to build on the opening of the doors of mercy, and welcome to all people, including our LGBTQ+ siblings,' Mckellar said. Others questioned whether the new pope will have the charm and social-media savvy required to perform as the front man for the world's biggest religion. 'One thing we still don't know about Leo is whether he has the personality for the modern papacy,' said Richard Wood, president of the Institute for Advanced Catholic Studies at the University of Southern California. 'I think his humility comes across loud and clear, but does he have the charisma Francis had for the social media age? I suspect it will be a quieter version of that if he has it.' He'll face other challenges as well. Wood pointed out that the Vatican is in real financial trouble. 'The Vatican has lost a lot of its American, European, African and Asian donors. Can he bring them back to the table?' he asked. 'The church is rightly concerned with preaching the Gospels, but it is also a worldly institution that has to pay its bills, and the new pope can help solve some of that.'
Yahoo
05-05-2025
- Business
- Yahoo
JBT Marel Corporation Reports First Quarter 2025 Results
First Quarter 2025 Highlights: (Results are from continuing operations) Achieved quarterly orders of $916 million and backlog of $1.3 billion Revenue totaled $854 million with more than half generated from recurring revenue Earnings per share (EPS) was $(3.35) and adjusted EPS was $0.97 Integration is on track, and the Company continues to expect to achieve $35 - $40 million in realized cost synergies for the full year and $80 - $90 million in annualized run rate savings exiting 2025 CHICAGO, May 05, 2025--(BUSINESS WIRE)--JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM), a leading global technology solutions provider to high-value segments of the food & beverage industry, today reported financial results for the first quarter of 2025. "JBT Marel had a solid start to the year as we outperformed our first quarter expectations," said Brian Deck, Chief Executive Officer. "Orders continue to demonstrate the benefits of our diverse and holistic end-market solutions, with healthy demand in poultry, meat, beverages, pharmaceuticals, and pet food." "The potential outcomes from global trade and tariff policies are creating increased uncertainty and costs, and we are taking proactive measures to mitigate impacts on our cost exposure, including vendor concessions, price increases, and reshoring of third party suppliers," added Deck. Comparisons in this news release are to the comparable period of the prior year, unless otherwise noted. An earnings presentation with supplemental information is available on the Company's Investor Relations website at JBT Marel First Quarter 2025 Results "Our team delivered strong operational execution, with solid equipment volume and expense management, leading to results that exceeded our guidance," said Matt Meister, Chief Financial Officer. Beginning in the first quarter of 2025, the Company revised its adjusted income from continuing operations and adjusted EPS calculations to exclude acquisition related amortization expense. The Company believes this change better reflects its core operating earnings and improves comparability versus peers. Prior year periods have been recast to reflect this change. First quarter 2025 consolidated revenue was $854 million with more than half generated from recurring products and services. Net income from continuing operations of $(173) million included pre-tax charges of $147 million related to the non-cash final settlement of the U.S. pension plan, $74 million in M&A related items, $42 million in acquisition related amortization expense, and $11 million in restructuring costs. Consolidated adjusted EBITDA was $112 million, and consolidated adjusted EBITDA margin was 13.1 percent. Diluted EPS was $(3.35), and adjusted EPS was $0.97. Orders totaled $916 million, and backlog was $1.3 billion. First quarter 2025 operating cash flow from continuing operations was $34 million, and free cash flow was $18 million. Included in free cash flow was approximately $42 million in one-time M&A related cash payments. As of March 31, 2025, the Company's bank leverage ratio was 3.2x, which includes the benefit of certain run rate synergies. Net debt to trailing twelve months adjusted EBITDA was 3.8x, an improvement of approximately 0.2x from January 2, 2025. Additionally, the Company's liquidity as of March 31, 2025, was approximately $1.3 billion, providing significant flexibility to fund strategic initiatives. Comparison Summary of Segment and Combined Results The below tables provide a summary, for comparison purposes, of certain first quarter 2025 and first quarter 2024 financial results for JBT and Marel segments as well as total combined JBT and Marel. The first quarter 2024 information contained in this table is not intended to represent pro forma financial information for JBT Marel as defined in Regulation S-X, Article 11. Three Months Ended March 31, 2025 In millions except margin JBT Marel Total Revenue $ 409 $ 445 $ 854 Adjusted EBITDA(1) 61 51 112 Adjusted EBITDA margin 14.9 % 11.5 % 13.1 % Three Months Ended March 31, 2024 In millions except margin JBT Marel (2) Total Revenue $ 392 $ 449 $ 841 Adjusted EBITDA(1) 57 43 100 Adjusted EBITDA margin 14.6 % 9.6 % 11.9 % (1) Non-GAAP figure. Please see supplemental schedules for adjustments and reconciliations. (2) Marel results for March 31, 2024, represent converted USD and U.S. GAAP figures. Synergy Actions and Target Cost Savings The Company remains on track to deliver expected in-year realized synergy savings of $35 - $40 million and annualized run rate savings of $80 - $90 million exiting 2025. In connection with these efforts, JBT Marel implemented a restructuring plan during the first quarter of 2025 to achieve a portion of its synergy targets and incurred the aforementioned $11 million in restructuring costs. These first quarter 2025 restructuring costs are expected to generate in-year realized savings of $12 - $15 million with annualized run rate savings of $15 - $20 million exiting 2025. For the full year 2025, the Company expects to incur $25 - $30 million in total restructuring costs. These full year restructuring costs are anticipated to generate in-year realized savings of $20 - $25 million and annualized run rate synergy savings of $50 - $60 million exiting 2025. Additionally, the Company continues to advance its synergy savings from supply chain initiatives. Based on those supply chain efforts, JBT Marel continues to expect in-year savings of approximately $15 million with annualized run rate savings of approximately $30 million exiting 2025. JBT Marel Outlook As a result of macroeconomic uncertainty created by trade policies and tariffs, it is more difficult to ascertain the potential impact on global demand. As a result, the Company has suspended its full year 2025 guidance and chosen to provide second quarter 2025 guidance. The below table reflects JBT Marel's consolidated guidance for the second quarter of 2025. Guidance $ millions except EPS Q2 2025 Revenue $885 - $915 Income from continuing operations $10 - $20 Adjusted EBITDA(1) margin 14.50 - 15.25% GAAP EPS $0.20 - $0.40 Adjusted EPS(1) $1.20 - $1.40 (1) Non-GAAP figure. Please see supplemental schedules for adjustments and reconciliations. For the second quarter of 2025, the Company's consolidated revenue guidance includes a favorable $10 - $15 million tailwind from foreign exchange translation. JBT Marel expects to incur certain acquisition and restructuring costs, which are included in income from continuing operations and GAAP guidance and excluded from adjusted EPS and adjusted EBITDA calculations. These exclusions include approximately $11 million in restructuring costs, $18 million in M&A related costs, and $41 million in acquisition related amortization expense. For the second quarter of 2025, the Company anticipates total depreciation and amortization expense to be approximately $61 million. Interest expense is estimated to be approximately $27 million. The Company also expects to generate approximately $3 million in other financing income. The other financing income is related to the hedging strategy for the Term Loan B, which provides access to lower EURIBOR interest rates. The estimated tax rate is 24 - 25 percent. JBT Marel expects that current tariff policies will create direct impacts to its cost of goods sold and is implementing short-term mitigation actions. Additionally, the Company believes that there could be impact to demand from the evolving tariff uncertainty. JBT Marel believes it is well positioned to maintain its global competitiveness as a result of its expansive global manufacturing footprint and holistic solutions offering. Please refer to the supplemental earnings presentation for incremental information. Earnings Conference Call A conference call is scheduled for 11:00 a.m. ET on Monday, May 5, 2025, to discuss first quarter 2025 results. A simultaneous webcast and audio replay of the call will be available on the Company's Investor Relations website at JBT Marel Corporation (NYSE and Nasdaq Iceland: JBTM) is a leading global technology solutions provider to high-value segments of the food & beverage industry. JBT Marel brings together the complementary strengths of both the JBT and Marel organizations to transform the future of food. JBT Marel provides a unique and holistic solutions offering by designing, manufacturing, and servicing cutting-edge technology, systems, and software for a broad range of food and beverage end markets. JBT Marel aims to create better outcomes for customers by optimizing food yield and efficiency, improving food safety and quality, and enhancing uptime and proactive maintenance, all while reducing waste and resource use across the global food supply chain. JBT Marel employs approximately 11,700 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 30 countries. For more information, please visit This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond JBT Marel's ability to control. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by JBT Marel will be achieved. These forward-looking statements include, among others, statements relating to our business and our results of operations, including our outlook, the benefits or results of our acquisition of Marel hf. (the "Marel Transaction"), our strategic plans, our restructuring plans and expected cost savings from those plans and our liquidity. The factors that could cause our actual results to differ materially from expectations include, but are not limited, to the following factors: the inability to successfully integrate the legacy businesses of JBT and Marel, operationally, technologically, culturally or otherwise, in a manner that permits the combined company to achieve the benefits and synergies anticipated from the Marel Transaction on the anticipated timeline or at all; fluctuations in our financial results; changes to trade regulation, quotas, duties or tariffs; unanticipated delays or accelerations in our sales cycles; deterioration of economic conditions, including impacts from supply chain delays and reduced material or component availability; inflationary pressures, including increases in energy, raw material, freight and labor costs; disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; fluctuations in currency exchange rates; changes in food consumption patterns; impacts of pandemic illnesses, food borne illnesses and diseases to various agricultural products; weather conditions and natural disasters; the impact of climate change and environmental protection initiatives; acts of terrorism or war, including the ongoing conflicts in Ukraine and the Middle East; termination or loss of major customer contracts and risks associated with fixed-price contracts, particularly during periods of high inflation; customer sourcing initiatives; competition and innovation in our industries; our ability to develop and introduce new or enhanced products and services and keep pace with technological developments; difficulty in developing, preserving and protecting our intellectual property or defending claims of infringement; catastrophic loss at any of our facilities and business continuity of our information systems; cyber-security risks such as network intrusion or ransomware schemes; loss of key management and other personnel; potential liability arising out of the installation or use of our systems; our ability to comply with U.S. and international laws governing our operations and industries; increases in tax liabilities; work stoppages; our ability to remediate the material weaknesses relating to the Marel financial statements; availability of and access to financial and other resources; and the factors described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K and in any future Quarterly Report on Form 10-Q. If one or more of those or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Consequently, actual events and results may vary significantly from those included in or contemplated or implied by our forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement made by us or on our behalf, whether as a result of new information, future developments, subsequent events or changes in circumstances or otherwise. JBT Marel provides non-GAAP financial measures in order to increase transparency in our operating results and trends. These non-GAAP measures eliminate certain costs or benefits from, or change the calculation of, a measure as calculated under U.S. GAAP. By eliminating these items, JBT Marel provides a more meaningful comparison of our ongoing operating results, consistent with how management evaluates performance. Management uses these non-GAAP measures in financial and operational evaluation, planning and forecasting. These calculations may differ from similarly-titled measures used by other companies. The non-GAAP financial measures disclosed are not intended to be used as a substitute for, nor should they be considered in isolation of, financial measures prepared in accordance with U.S. GAAP. JBT MAREL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited and in millions, except per share data) Three Months Ended March 31, 2025 2024 Revenue $ 854.1 $ 392.3 Cost of sales 561.6 252.0 Gross profit 292.5 140.3 Gross profit margin 34.2 % 35.8 % Selling, general and administrative expense 281.7 103.7 Research and development 33.6 6.4 Restructuring expense 10.6 1.1 Operating (loss) income (33.4 ) 29.1 Operating (loss) income margin (3.9 )% 7.4 % Pension expense, other than service cost 146.8 1.0 Other income 2.0 — Interest expense (income), net 41.0 (2.8 ) (Loss) income from continuing operations before income taxes (219.2 ) 30.9 Income tax provision (46.2 ) 8.1 Equity in net earnings of unconsolidated affiliate — (0.1 ) (Loss) income from continuing operations (173.0 ) 22.7 Income from discontinued operations, net of taxes — 0.1 Net (loss) income $ (173.0 ) $ 22.8 Basic (loss) earnings per share from: Continuing operations $ (3.35 ) $ 0.71 Discontinued operations — — Net (loss) income $ (3.35 ) $ 0.71 Diluted (loss) earnings per share from net income from: Continuing operations $ (3.35 ) $ 0.71 Discontinued operations — — Net (loss) income $ (3.35 ) $ 0.71 Weighted average shares outstanding: Basic 51.7 32.0 Diluted 51.7 32.2 Other business information from continuing operations: Inbound orders 916.1 388.5 Orders backlog 1,310.5 663.6 JBT MAREL CORPORATION NON-GAAP FINANCIAL MEASURES RECONCILIATION OF DILUTED EARNINGS PER SHARE TO ADJUSTED DILUTED EARNINGS PER SHARE (Unaudited and in millions, except per share data) Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 (Loss) income from continuing operations $ (173.0 ) $ (6.9 ) $ 38.1 $ 30.7 $ 22.7 Non-GAAP adjustments Restructuring related costs(1) 10.6 0.3 (0.2 ) 0.2 1.1 M&A related costs(2) 74.4 53.3 12.9 14.5 5.2 Amortization of bridge financing debt issuance cost 12.4 4.7 1.2 1.2 — Acquisition related amortization and depreciation 41.7 11.4 11.0 11.1 11.1 Impact on tax provision from Non-GAAP adjustments(3) (31.0 ) (16.7 ) (6.3 ) (6.8 ) (4.3 ) Recognition of non-cash pension plan related settlement costs 146.9 23.3 — — — Impact on tax provision from non-cash pension plan related settlement costs (37.1 ) (6.0 ) — — — Discrete tax adjustment from M&A activity 5.4 — — — — Deferred tax benefit related to an internal reorganization — — — (8.8 ) — Adjusted income from continuing operations $ 50.3 $ 63.4 $ 56.7 $ 42.1 $ 35.8 (Loss) income from continuing operations $ (173.0 ) $ (6.9 ) $ 38.1 $ 30.7 $ 22.7 Total shares and dilutive securities 51.7 32.2 32.2 32.2 32.2 Diluted earnings per share from continuing operations $ (3.35 ) $ (0.21 ) $ 1.18 $ 0.95 $ 0.71 Adjusted income from continuing operations $ 50.3 $ 63.4 $ 56.7 $ 42.1 $ 35.8 Total shares and dilutive securities 51.9 32.2 32.2 32.2 32.2 Adjusted diluted earnings per share from continuing operations $ 0.97 $ 1.97 $ 1.76 $ 1.31 $ 1.11 (1) Costs incurred as a direct result of the restructuring program are excluded because they are not part of the ongoing operations of our underlying business. (2) M&A related costs include integration costs, amortization of inventory step-up from business combinations, impacts of foreign currency derivatives and trades to hedge variability of exchange rates on the cash consideration paid for business combination, advisory and transaction costs for both potential and completed M&A transactions and strategy. M&A related costs are excluded as they are not part of the ongoing operations of our underlying business. (3) Impact on tax provision was calculated using the enacted rate for the relevant jurisdiction for each period shown. The above table reports adjusted income from continuing operations and adjusted diluted earnings per share from continuing operations, which are non-GAAP financial measures. We use these measures internally to make operating decisions and for the planning and forecasting of future periods, and therefore provide this information to investors because we believe it allows more meaningful period-to-period comparisons of our ongoing operating results, without the fluctuations in the amount of certain costs that do not reflect our underlying operating results. JBT MAREL CORPORATION NON-GAAP FINANCIAL MEASURES RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA (Unaudited and in millions) Three Months Ended March 31, 2025 2024 (Loss) income from continuing operations $ (173.0 ) $ 22.7 Income tax provision (46.2 ) 8.1 Interest expense (income), net 41.0 (2.8 ) Other financing income(1) (2.0 ) — Pension expense, other than service cost(2) 146.8 1.0 Restructuring related costs(3) 10.6 1.1 M&A related costs(4) 74.4 5.2 Depreciation and amortization(5) 60.6 22.1 Adjusted EBITDA from continuing operations $ 112.2 $ 57.4 Total revenue $ 854.1 $ 392.3 Adjusted EBITDA margin 13.1 % 14.6 % (1) Other financing income represents transaction gains from fair value hedges on our foreign currency denominated debt, and are considered non-operating as they relate to our cost of borrowing on this debt. (2) Pension expense, other than service cost is excluded as it represents all non service-related pension expense, which consists of non-cash interest cost, expected return on plan assets, amortization of actuarial gains and losses, and settlement charges. (3) Costs incurred as a direct result of the restructuring program are excluded because they are not part of the ongoing operations of our underlying business. (4) M&A related costs include integration costs, amortization of inventory step-up from business combinations, impacts of foreign currency derivatives and trades to hedge variability of exchange rates on the cash consideration paid for business combination, advisory and transaction costs for both potential and completed M&A transactions and strategy. M&A related costs are excluded as they are not part of the ongoing operations of our underlying business. (5) Depreciation and amortization, including the acquisition related amortization and depreciation expense, is excluded to determine EBITDA. The above table reports EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Given the Company's focus on growth through acquisitions, management believes EBITDA facilitates an evaluation of business performance while excluding the impact of amortization due to the step up in value of intangible assets, and the depreciation of fixed assets. We use Adjusted EBITDA internally to make operating decisions and believe that adjusted EBITDA is useful to investors as a measure of the Company's operational performance and a way to evaluate and compare operating performance against peers in the Company's industry. JBT MAREL CORPORATION NON-GAAP FINANCIAL MEASURES SEGMENT ADJUSTED EBITDA (Unaudited and in millions) Three Months Ended March 31, 2025 JBT Marel Total Segment adjusted EBITDA $ 60.8 $ 51.4 $ 112.2 Segment revenue 408.8 445.3 854.1 Segment adjusted EBITDA margin 14.9 % 11.5 % 13.1 % JBT MAREL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited and in millions) March 31, 2025 December 31, 2024 Assets Cash and cash equivalents $ 101.0 $ 1,228.4 Restricted cash 18.0 — Trade receivables, net of allowances 543.9 335.1 Inventories 613.5 233.1 Other current assets 212.1 66.7 Total current assets 1,488.5 1,863.3 Property, plant and equipment, net 742.9 233.7 Goodwill 2,834.1 769.1 Intangible assets, net 2,621.9 340.9 Other assets 311.9 206.8 Total assets $ 7,999.3 $ 3,413.8 Liabilities and Stockholders' Equity Short-term debt $ 21.4 $ — Accounts payable, trade and other 282.2 131.0 Advance and progress payments 496.1 194.1 Other current liabilities 383.7 210.4 Total current liabilities 1,183.4 535.5 Long-term debt, less current portion 1,966.1 1,252.1 Accrued pension and other post-retirement benefits, less current portion 16.2 19.3 Other liabilities 726.3 62.7 Common stock and additional paid-in capital 2,727.8 232.8 Retained earnings 1,358.0 1,535.9 Accumulated other comprehensive loss 21.5 (224.5 ) Total stockholders' equity 4,107.3 1,544.2 Total liabilities and stockholders' equity $ 7,999.3 $ 3,413.8 JBT MAREL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited and in millions) Three Months Ended March 31, 2025 2024 Cash flows from continuing operating activities Net (loss) income $ (173.0 ) $ 22.8 Less: Income from discontinued operations, net of taxes — 0.1 (Loss) income from continuing operations (173.0 ) 22.7 Adjustments to reconcile income to cash provided by operating activities Depreciation and amortization 60.6 22.1 Stock-based compensation 4.8 4.2 Other 174.1 2.4 Changes in operating assets and liabilities Trade accounts receivable, net 18.0 (14.2 ) Inventories (12.9 ) (13.2 ) Accounts payable, trade and other 20.9 8.6 Advance and progress payments 31.8 (7.9 ) Other - assets and liabilities, net (89.9 ) (14.3 ) Cash provided by continuing operating activities 34.4 10.4 Cash flows from continuing investing activities Acquisitions, net of cash acquired (1,746.0 ) — (Payments) proceeds from sale of AeroTech, net (0.2 ) 2.8 Capital expenditures (20.0 ) (10.5 ) Other 0.6 0.5 Cash required by continuing investing activities (1,765.6 ) (7.2 ) Cash flows from continuing financing activities Net payments of domestic credit facilities, net of debt issuance cost (187.6 ) — Proceeds from Term Loan B, net of debt issuance costs 890.4 — Settlement of deal contingent hedge (42.5 ) — Dividends (5.3 ) (3.2 ) Other (33.6 ) (2.9 ) Cash provided (required) by continuing financing activities 621.4 (6.1 ) Net decrease in cash and cash equivalents from continuing operations (1,109.8 ) (2.9 ) Net cash required by discontinued operations — (0.2 ) Effect of foreign exchange rate changes on cash and cash equivalents 0.4 (1.2 ) Net decrease in cash and cash equivalents (1,109.4 ) (4.3 ) Cash and cash equivalents from continuing operations, beginning of period 1,228.4 483.3 Add: Cash and cash equivalents from discontinued operations, beginning of period — — Add: Net decrease in cash and cash equivalents (1,109.4 ) (4.3 ) Less: Cash and cash equivalents from discontinued operations, end of period — — Cash and cash equivalents from continuing operations, end of period $ 119.0 $ 479.0 JBT MAREL CORPORATION NON-GAAP FINANCIAL MEASURES FREE CASH FLOW (Unaudited and in millions) Three Months Ended March 31, 2025 2024 Cash provided by continuing operating activities $ 34.4 $ 10.4 Less: capital expenditures 20.0 10.5 Plus: proceeds from disposal of assets 0.6 0.5 Plus: pension contributions 2.8 0.3 Free cash flow (FCF) $ 17.8 $ 0.7 The above table reports free cash flow, which is a non-GAAP financial measure. We use free cash flow internally as a key indicator of our liquidity and ability to service debt, invest in business combinations, and return money to shareholders and believe this information is useful to investors because it provides an understanding of the cash available to fund these initiatives. For free cash flow purposes, we consider contributions to pension plans to be more comparable to payment of debt, and therefore exclude these contributions from the calculation of free cash flow. Additionally, we exclude the income taxes on gain from sale of AeroTech as these represent one-time taxes paid on the sale of a discontinued operation that are not representative of taxes from operations. JBT MAREL CORPORATION NET DEBT CALCULATION (Unaudited and in millions) As of Quarter Ended Change From Q1 2025 Q4 2024 Q1 2024 PQ PY Total debt $ 1,987.5 $ 1,252.1 $ 647.0 $ 735.4 $ 1,340.5 Cash and marketable securities (101.0 ) (1,228.4 ) (479.0 ) 1,127.4 378.0 Net debt $ 1,886.5 $ 23.7 $ 168.0 $ 1,862.8 $ 1,718.5 JBT MAREL CORPORATION BANK TOTAL NET LEVERAGE RATIO CALCULATION (Unaudited and in millions) Q1 2025 Total debt $ 1,987.5 Cash and marketable securities (101.0 ) Net debt 1,886.5 Other items considered debt under the credit agreement 37.9 Consolidated total indebtedness(1) $ 1,924.4 Trailing twelve months Adjusted EBITDA from continuing operations 349.8 Pro forma EBITDA of recent acquisitions(2) 141.2 Trailing twelve months pro forma adjusted EBITDA 491.0 Other adjustments net to earnings under the credit agreement 105.1 Consolidated EBITDA(1) $ 596.1 Bank total net leverage ratio (Consolidated Total Indebtedness / Consolidated EBITDA) 3.2 Total net debt to trailing twelve months Adjusted EBITDA from continuing operations 3.8 (1) As defined in the credit agreement. (2) Pro forma EBITDA related to the acquisitions in the prior twelve months JBT MAREL CORPORATION NON-GAAP FINANCIAL MEASURES RECONCILIATION OF DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO ADJUSTED DILUTED EARNINGS PER SHARE GUIDANCE (Unaudited and in cents) Guidance Q2 2025 Diluted earnings per share from continuing operations $0.20 - $0.40 Non-GAAP adjustments Restructuring related costs(1) 0.21 M&A related costs(2) 0.35 Acquired asset depreciation and amortization(3) 0.79 Impact on tax provision from Non-GAAP adjustments(5) (0.35) Adjusted diluted earnings per share from continuing operations $1.20 - $1.40 JBT MAREL CORPORATION NON-GAAP FINANCIAL MEASURES RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA GUIDANCE (Unaudited and in millions) Guidance Q2 2025 (Loss) from continuing operations $10.0 - $20.0 Income tax provision $3.0 - $6.0 Interest expense, net ~ 27.0 Other financing income(4) ~ (3.0) Restructuring related costs(1) ~ 11.0 M&A related costs(2) ~ 18.0 Depreciation and amortization ~ 61.0 Adjusted EBITDA from continuing operations $128.0 - $140.0 (1) Restructuring related costs is estimated to be approximately $11 million for the second quarter of 2025. The amount has been divided by our estimate of 51.9 million total shares and dilutive securities to derive earnings per share. (2) M&A related costs are estimated to be approximately $18 million for the second quarter of 2025, which includes $7M of integration costs and $11M of Inventory step up. The amount has been divided by our estimate of 51.9 million total shares and dilutive securities to derive earnings per share. (3) Acquired asset depreciation and amortization is expected to be $41M for the second quarter of 2025, related to Purchase Price Allocation and Fixed Asset Step-up. The amount has been divided by our estimate of 51.9 million total shares and dilutive securities to derive earnings per share. (4) Other financing income is estimated to be approximately $3 million for the second quarter of 2025. The amount has been divided by our estimate of 51.9 million total shares and dilutive securities to derive earnings per share. (5) Impact on tax provision for the second quarter of 2025 was calculated using a tax rate of approximately 24 - 25%. View source version on Contacts Investors & Media:Marlee +1 (312) 861-5784 Sign in to access your portfolio
