Welcome to our dedicated page for Hillenbrand news (Ticker: HI), a resource for investors and traders seeking the latest updates and insights on Hillenbrand stock.
Hillenbrand, Inc. (NYSE: HI) is a global industrial leader committed to providing highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries. The company operates through two primary business segments: the Process Equipment Group and Batesville. The Process Equipment Group designs, develops, manufactures, and services advanced industrial equipment, while Batesville focuses on funeral services and solutions.
Hillenbrand's diverse portfolio includes multiple market-leading brands that serve a variety of industries, including durable plastics, food processing, and recycling. A recent highlight for the company was the acquisition of Linxis, Peerless, and the Schenck Process Food and Performance Materials business, which has strengthened its foothold in the food processing market.
Financially, Hillenbrand has shown robust performance despite the challenging macroeconomic environment. For fiscal year 2023, the company reported revenue of $2.83 billion, a 22% increase from the previous year, largely driven by acquisitions. The Advanced Process Solutions segment witnessed a 57% revenue growth, further solidifying Hillenbrand’s market position.
Looking forward, Hillenbrand remains keen on executing its growth strategy, which includes leveraging recent acquisitions to enhance its market presence and drive productivity. The company aims to generate substantial shareholder value through continuous innovation, collaboration, and a focus on sustainable solutions.
Hillenbrand's commitment to excellence is guided by its purpose of
IDEX Corporation (NYSE:IEX) has successfully completed its acquisition of Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE:HI). Abel is known for its advanced reciprocating positive displacement pumps tailored for demanding applications in sectors such as mining, marine, and wastewater. This strategic acquisition is set to enhance IDEX's fluidics capabilities and expand its market reach. Abel's operational headquarters is in Germany, with additional locations in Spain and the U.S. IDEX aims to leverage Abel's expertise to improve its solutions for its customers' fluid management challenges.
Hillenbrand, Inc. (NYSE: HI) has announced the pricing of a public offering for $350 million in senior unsecured notes at a rate of 3.75%, maturing in 2031. The offering is expected to close around March 3, 2021. The net proceeds are aimed at general corporate purposes, including the partial repayment of a $500 million term loan. The offering is underwritten by HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, and Commerz Markets LLC. The press release contains forward-looking statements, highlighting potential risks associated with future projections.
Hillenbrand announced the appointment of Leo Kulmaczewski as Senior Vice President of Operations Center of Excellence, effective Feb 16, 2021. He will focus on implementing manufacturing and quality best practices across the organization, optimizing Hillenbrand’s global footprint, and supporting growth initiatives. Kulmaczewski aims to advance the Hillenbrand Operating Model while integrating the Milacron businesses. His previous roles include senior operations positions at Belden and Leica Biosystems. This strategic move is expected to drive operational efficiency and support Hillenbrand’s growth targets.
The board of directors of Hillenbrand (NYSE: HI) has declared a quarterly cash dividend of $0.2150 per share on its common stock. This dividend is payable on March 31, 2021, to shareholders of record as of March 17, 2021. Hillenbrand is a diversified industrial company with a focus on profitable growth and cash generation, operating in various industries including death care in North America.
Hillenbrand reported a strong first quarter for fiscal 2021, with revenue of $693 million, a 22% year-over-year increase, mainly driven by heightened demand for COVID-19 related solutions and contributions from Milacron. GAAP EPS rose to $1.01, while adjusted EPS increased 28% to $0.96. The company experienced a record backlog of $1.36 billion, reflecting a 32% growth year-over-year, and cash flow from operations improved by $48 million. Fiscal Q2 guidance anticipates adjusted EPS of $0.85 to $0.95.
Hillenbrand, Inc. (NYSE: HI) has announced a conference call and webcast scheduled for February 4, 2021, at 8:00 a.m. ET to discuss its financial results for the first quarter of fiscal year 2021, which ended on December 31, 2020. The company will release its earnings report post-market on February 3, 2021. The call can be accessed by dialing +1 (877) 407-8012 (U.S./Canada) or +1 (412) 902-1013 (international), using conference ID 13715095. A replay will be available until February 18, 2021. More information can be found on the investor relations website.
Hillenbrand (NYSE: HI) announced a definitive agreement to sell Abel Pumps, L.P. and affiliates to IDEX Corporation (NYSE: IEX) for $103.5 million in cash. This decision aligns with Hillenbrand's strategy to exit the ABEL business and streamline its portfolio. The transaction is expected to close in the second fiscal quarter of 2021, subject to customary conditions. Proceeds will be used to reduce debt and reinvest in growth opportunities. This follows the recent sale of Red Valve, enhancing Hillenbrand's financial flexibility and shareholder value.
IDEX Corporation (NYSE:IEX) has signed a definitive agreement to acquire Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE: HI) for $103.5 million in cash. Abel Pumps specializes in high-performance reciprocating pumps for various critical sectors, including mining and wastewater. Abel’s annual revenue is approximately $34 million. This acquisition is expected to enhance IDEX's pump manufacturing expertise and expand its offerings. The deal is anticipated to close in Q1 2021, pending regulatory approvals and customary conditions.
Hillenbrand, Inc. (NYSE: HI) has finalized the sale of its Red Valve business to DeZURIK, Inc. for an enterprise value of $63 million, comprising $58 million in cash and a $5 million note. This decision aligns with Hillenbrand's strategy to enhance shareholder value by concentrating on key business platforms. The company intends to use the proceeds from this sale primarily for deleveraging purposes. Financial guidance will be updated during the fiscal first quarter 2021 earnings call.
The board of directors of Hillenbrand has announced a quarterly cash dividend of $0.2150 per share, marking an annual increase of $0.01 to $0.86 for fiscal 2021. This dividend is payable on December 31, 2020, to shareholders on record by December 17, 2020. Hillenbrand is a diversified industrial company with a focus on profitable growth and cash generation across various industries, including leading positions in death care and manufacturing businesses.
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