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) is set to announce its second-quarter earnings for fiscal year 2023 on May 8, 2023, post-market closure. A conference call will occur on May 9, 2023, at 8:00 a.m. ET, where executives will discuss the financial results from the quarter ending March 31, 2023. Interested parties can participate via a live webcast, which will also be archived until June 6, 2023. This call is crucial for investors seeking insights into Hillenbrand’s performance across its global portfolio, which includes key markets such as durable plastics, food, and recycling.
LongRange Capital has appointed Andrew Cialino as Principal and Head of Business Development. Cialino, formerly with SFW Capital Partners, brings extensive experience in middle market business development. His role will focus on enhancing deal origination and sourcing for the firm. LongRange, which closed its first fund with $1.5 billion in commitments, recently acquired Batesville Services from Hillenbrand (NYSE:HI). This acquisition aligns with LongRange's strategy to invest in private middle market businesses within fundamental industries.
Hillenbrand (NYSE: HI) held its first annual meeting of shareholders on February 27, 2023, under newly appointed Chairperson Helen Cornell, who succeeded F. Joseph Loughrey. Cornell, who joined the board in 2011, emphasized the company's transformation into a pure-play industrial entity, enhancing its focus on core industries. CEO Kim Ryan noted Cornell's manufacturing expertise as beneficial for shareholders. Hillenbrand provides critical processing equipment to various sectors globally, positioning itself for continued growth.
The board of directors of Hillenbrand (NYSE: HI) has announced a quarterly cash dividend of $0.22 per share on its common stock. This dividend is set to be paid on March 31, 2023, to shareholders recorded as of the close of business on March 17, 2023. Hillenbrand is a global industrial company that provides engineered processing equipment and solutions across various sectors, including durable plastics, food, and recycling, serving customers in over 100 countries.
Hillenbrand, Inc. (NYSE: HI) reported Q1 results for fiscal 2023, showing a 16% revenue increase to $656 million, with a 4% organic growth rate. GAAP EPS rose to $0.35, a 21% increase year-over-year, while adjusted EPS improved 25% to $0.70, exceeding guidance. The backlog stood at $1.96 billion, reflecting a 14% increase. Despite solid performance in the Advanced Process Solutions segment, challenges continue in Molding Technology Solutions due to delays in customer decisions. The company updated its fiscal 2023 guidance, projecting adjusted EPS of $3.25 to $3.55. The divestiture of the Batesville business segment was finalized on February 1, 2023, enhancing its focus as a pure-play industrial company.
LongRange Capital has successfully completed its acquisition of Batesville Services from Hillenbrand (NYSE: HI). Batesville, a century-old leader in death care products and services in North America, provides vital solutions for funeral professionals and families. Chris Trainor continues as CEO, emphasizing the company's commitment to innovation and growth. LongRange aims to foster expansion and enhance Batesville's service offerings, signaling a potential strengthening of the brand's market position. The acquisition reflects LongRange's strategy of building middle market businesses with long-term value in focus.
Hillenbrand has completed the sale of its Batesville business segment to LongRange Capital for $761.5 million, marking its transformation into a pure-play industrial company. This strategic divestiture allows Hillenbrand to focus on high-growth markets such as durable plastics, food, and recycling. The transaction is expected to yield after-tax net proceeds of approximately $530 million, which will primarily be used for debt reduction. CEO Kim Ryan emphasized the company's commitment to enhancing shareholder value through focused investments.
Hillenbrand, Inc. (NYSE: HI) will hold a conference call on February 9, 2023, at 8:00 a.m. ET, to discuss its first quarter fiscal results for 2023, ending December 31, 2022. A press release detailing the financial results will be issued after market close on February 8, 2023. The webcast will be accessible via Hillenbrand's investor relations website and available for replay until March 10, 2023. The company operates globally with over 10,000 associates across 40 countries, focusing on innovation and excellence in sectors including manufacturing and industrial solutions.
BATESVILLE, Ind., Jan. 4, 2023 /PRNewswire/ -- Hillenbrand (NYSE: HI) appointed Carole Phillips as Senior Vice President and Chief Procurement Officer. Joining in September 2022, she closely collaborated with former CPO Mike Prado to ensure a smooth transition. With over 25 years of experience, Phillips aims to enhance Global Supply Management and develop strong supplier partnerships to navigate supply chain challenges. Previously, she served as VP of Global Supply Management at Stanley Black & Decker and held leadership roles at Eaton and Lionel LLC.
Ivalua, a global leader in spend management, has been selected by Hillenbrand (NYSE: HI) to enhance its procurement processes. The platform aims to centralize supplier communication and contract data while supporting scalability into Procure-to-Pay (P2P) operations. Ivalua's solution includes modules for supplier risk management and contract lifecycle management, providing Hillenbrand with a unified source of data for improved visibility across its supply chain. This partnership is expected to streamline processes and accelerate decision-making.
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