John Bean Technologies Corporation

Good morning and welcome to JBT Corporation's third quarter 2024 earnings conference call. My name is Prila and I will be your conference operator today. As a reminder, today's call is being recorded. 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. If you would like to ask a question during this time, simply press the star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press the star one again. Thank you. I will now turn the call over to JBT's Director of Investor Relations, Marlee Spangler, to begin today's conference.

Thank you, Prila. Good morning, everyone, and welcome to our third quarter 2024 earnings conference call. With me on the call is our Chief Executive Officer, Brian Deck, and 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 8K filing. JBT'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 gap measure can be found in the investor relations section of our website. Now, I'll turn the call over to Brian.

Thanks, Marlee. Good morning, everyone. We were very pleased with JVT's results for the third quarter. As expected, we posted double-digit year-over-year revenue growth and captured meaningful margin expansion. Moreover, we continue to generate strong orders and benefit from the ongoing recovery and demand from the global poultry and market. Overall, our progress and performance in the third quarter reinforces our confidence in our full year expectations of 3 to 5% revenue growth in 2024 and adjusted EBITDA growth of 10% at the midpoint of our guidance. Matt will walk you through an analysis of the third quarter. He will also discuss the securing of commitments for financing the Morrell merger. Then I will speak about end market and geographic trends, discuss updates on the combination with Morrell, and provide some highlights on our exceptional automated guided vehicle business.