John Bean Technologies Corporation

Good morning and welcome to JBT Corporation's second quarter 2021 earnings conference call. My name is Vic and I will be your conference operator today. At this time, all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. I will now turn the call over to JBT's Vice President of Corporate Development and Investor Relations, Cedric Meredith, to begin today's conference.

Thank you, Vic. Good morning, everyone, and welcome to our second quarter 2021 conference call. With me on the call is our Chief Executive Officer, Ryan Deck, and our Chief Financial Officer, Matt Meister. In today's call, we will use forward-looking statements that are subject to the safe harbor language in yesterday's press release and 8-day filings. JVT's periodic SEC filings also contain information regarding risk factors that may have an impact on our results. These documents are available in the investor relations section of our website. Also, our discussion today includes references to certain non-GAAP measures. A reconciliation of these measures to the most comparable GAAP measure can be found in the investor relations section of our website. Finally, I encourage you to review the second quarter slide deck, which is also posted in the investor relations section of the JVT website. In it, we show historical trends, highlight key performance metrics and business opportunities, and speak to our growth strategies. Now I'll turn the call over to Brian.

Thanks, Kedrick, and good morning, everyone. It's great to be here to talk about JBT's strong financial performance and the strategic progress we made in the second quarter. As we highlighted last quarter, JBT continues to enjoy robust demand at Foodtech and encouraging signs of recovery at Aerotech. At the same time, we continue to face a challenging macro environment, driving increasing costs of doing business, including material cost inflation, supply chain constraints, and tight logistics. Those pressures have intensified, but now also include rising labor costs and labor shortages. Now, withstanding this challenging backdrop, we outperformed expectations on the top and bottom lines in the second quarter. I'd like to express my appreciation to everyone at JBT who did an excellent job of getting orders out the door to satisfy customer needs in this tough operating environment. And a specific thank you to our service technicians who have gone above and beyond to meet customer expectations, despite the complexities and restrictions associated with the pandemic. In the second quarter, we also booked record orders and generated excellent cash flow. Moreover, we advanced our growth strategy with the exciting acquisition of Provenio, which expands our recurring revenue stream and further strengthens JBT's role in food safety. I'll hand it over to Matt, who will provide a more detailed analysis of the second quarter results, speak to the benefits of the convertible note offering we completed in the quarter, and walk you through our updated guidance.