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 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.
LongRange Capital announced its acquisition of Batesville Casket Company from Hillenbrand (NYSE: HI). The deal, expected to close in Q1 2023 pending regulatory approval, is strategic for LongRange as it focuses on long-term investments in middle-market businesses. Founded in 1884, Batesville is a leading provider of death care products and technology solutions across North America. LongRange aims to partner with Batesville's management to support and grow the business further.
Hillenbrand (NYSE: HI) hosted its 2022 Investor Day on December 15, 2022, in New York City, detailing its transformation and growth strategy. CEO Kim Ryan emphasized the company's momentum and long-term value creation for shareholders. A notable announcement was the agreement to sell the Batesville business, which will not factor into the company's Fiscal Year 2025 performance targets. Hillenbrand introduced new long-term financial goals, including revenue CAGR and adjusted EBITDA margin expansion. The event included presentations and a Q&A session, highlighting the company's strategic direction.
Hillenbrand announced the sale of its Batesville business segment to LongRange Capital for $761.5 million, with the transaction expected to close in early 2023. This divestiture marks a pivotal moment in Hillenbrand's shift to a pure-play industrial company, allowing it to concentrate on its Advanced Process Solutions and Molding Technology Solutions segments. The proceeds will aid in debt reduction, reinforcing Hillenbrand's commitment to growth in plastics, food, and recycling markets. The company anticipates classifying Batesville as 'held for sale' in its fiscal 2023 first quarter.
The board of directors of Hillenbrand has declared a quarterly cash dividend of $0.22 per share on common stock, marking an annualized increase of $0.01 for a total of $0.88 per share in fiscal 2023. The dividend is payable on December 30, 2022, to shareholders of record by December 16, 2022. With over 10,000 associates, Hillenbrand operates globally, providing innovative solutions across various industries.
Hillenbrand, Inc. (NYSE: HI) will conduct its Investor Day on December 15, 2022, in New York, NY. Key executives, including CEO Kim Ryan and CFO Bob VanHimbergen, will outline the company's growth strategy, transformation journey, and financial objectives. Presentations will start at 9:00 a.m. ET and end by 12:30 p.m. ET, featuring a Q&A session. Registration is necessary for in-person attendance or to view the webcast, with a replay available afterward at Hillenbrand's investor relations website.
Hillenbrand, Inc. (NYSE: HI) has finalized the acquisition of Peerless Food Equipment from Illinois Tool Works Inc. for approximately $59 million. This strategic move enhances Hillenbrand's offerings in the food processing sector, complementing its existing brands, including Coperion and LINXIS Group. The acquisition is expected to drive shareholder value through enhanced operational synergies within its Advanced Process Solutions segment. Hillenbrand aims to leverage its significant market scale to provide comprehensive solutions, reflecting its confidence in successful integration and growth.
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