Hillenbrand Inc - HI STOCK NEWS

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.

Hillenbrand reported Q4 2022 revenue of $750 million, down 1% year-over-year, but up 7% excluding currency effects. GAAP EPS rose 9% to $0.81, while adjusted EPS increased 5% to $1.05. The company boasts a record backlog of $1.76 billion, up 5% year-over-year. For FY 2022, revenue reached $2.94 billion, a 3% increase, though GAAP EPS declined 13% to $2.89. Fiscal 2023 guidance projects adjusted EPS of $4.10 - $4.50, with a focus on strategic acquisitions and inflation management.

Hillenbrand, Inc. (NYSE: HI) has scheduled its fourth quarter and full fiscal year 2022 earnings call for November 17, 2022, at 8:00 a.m. ET. The results will cover the period ending September 30, 2022. The earnings report will be released after market close on November 16, 2022, and will be available on their investor relations website. The conference call can be accessed through provided numbers, with a replay available until December 1, 2022.

Hillenbrand (NYSE: HI) showcased sustainable innovations for the plastics and recycling industries at K 2022 in Düsseldorf, Germany. The event highlighted the demand for improved recycling technologies driven by consumer and regulatory pressures. Hillenbrand's Operating Companies, including Coperion and Milacron, presented advanced solutions for processing recycled materials, enhancing sustainability, and optimizing production efficiency. Key technologies included the ZSK twin screw extruder and M-Powered technology for predictive maintenance. The company emphasizes its role in fostering a circular economy through innovative partnerships and tailored solutions.

iMFLUX will participate in K2022, the leading trade fair for the plastics industry in Dusseldorf, Germany from October 19-26, 2022. The company will demonstrate its innovative low-constant-pressure molding technology in partnership with Milacron, showcasing the ability to process various materials, including 100% PCR, without operator intervention. Demonstrations will occur three times daily at Milacron's booth. Additionally, iMFLUX collaborates with Moldex3D to debut new simulation features to optimize injection molding processes.

Hillenbrand (NYSE: HI) has finalized the acquisition of LINXIS Group for €596.2 million, enhancing its position in the food processing industry. The transaction adds six leading brands to Hillenbrand's portfolio, expected to generate approximately €300 million in revenue with mid-teen EBITDA margins in 2022. This acquisition aligns with Hillenbrand's strategy to provide comprehensive solutions and achieve significant synergies with its existing operations, particularly through the Coperion brand. The acquisition is anticipated to boost adjusted EPS within the first full year.