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
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.
Hillenbrand, Inc. reported record fiscal Q4 2020 revenue of $694 million, marking a 43% increase year-over-year driven by the Milacron acquisition. Despite a 2% organic revenue decline, adjusted EPS rose 8% to $0.92. The company achieved a record order backlog of $1.23 billion, up 43% from the previous year. For fiscal 2020, total revenue reached $2.52 billion, a 39% increase, while GAAP EPS recorded a loss of $0.82 due to impairment charges. Hillenbrand forecasts adjusted EPS of $0.65 to $0.75 for Q1 2021, amid uncertainties from the COVID-19 pandemic.
Hillenbrand, Inc. (NYSE: HI) will hold a conference call on November 12, 2020, at 8:00 a.m. ET to discuss its fourth quarter and full fiscal year 2020 results, ending September 30, 2020. The earnings release will be issued after market close on November 11, 2020, and will be accessible on their investor relations website. The call will be available via a live webcast and will include a slide presentation, with a replay option available until November 26, 2020.
Hillenbrand (NYSE: HI), based in Batesville, Indiana, announced key investor events scheduled for the week of September 22, 2020. The D.A. Davidson 19th Annual Virtual Industrials & Services Conference will feature CEO Joe Raver presenting on September 22 at 11:45 a.m. ET. Additionally, Raver will present at the Sidoti Fall 2020 Virtual Investor Conference on September 24 at 9:15 a.m. ET. Both events will include live webcasts, and presentation documents will be available for later access on the company's investor relations webpage.
The board of directors of Hillenbrand has declared a quarterly cash dividend of $0.2125 per share on its common stock. This dividend is payable on September 30, 2020, to shareholders of record as of September 16, 2020. Hillenbrand is a diversified industrial company with operations across various sectors including death care and manufacturing. The company aims for profitable growth and strong cash generation to enhance shareholder value.
Hillenbrand reported Q3 2020 results with total revenue of $608 million, up 36% year-over-year, driven by the Milacron acquisition, which added 42% growth. However, organic sales declined 6%. Net income was $24 million ($0.32 per share), down 33%, primarily due to acquisition costs and interest expenses. Adjusted EBITDA rose 74% to $121 million. The company plans to exit TerraSource and Flow Control businesses and expects modest revenue changes in Q4. Liquidity stands at $905 million, with a focus on reducing debt.
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