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 (NYSE: HI) is set to acquire Herbold Meckesheim GmbH for approximately €79 million. The deal, expected to close in the fourth fiscal quarter of 2022, aims to enhance Hillenbrand's recycling technology offerings. Herbold, with annual revenues exceeding €50 million, complements Hillenbrand's Coperion brand and reinforces its commitment to sustainable solutions. The acquisition is anticipated to be accretive to adjusted EPS within the first year and achieve double-digit ROIC by year three, supporting Hillenbrand's long-term growth strategy in the recycling market.
Hillenbrand reported fiscal Q2 2022 revenue of $742 million, marking a 3% increase from the previous year. GAAP EPS of $0.74 saw a 28% decrease, while adjusted EPS rose 3% to $1.01. Total backlog reached $1.7 billion, up 14%. Fiscal 2022 guidance reaffirms adjusted EPS of $3.80 to $4.00, with Q3 adjusted EPS expected at $0.83 to $0.90. Despite challenges like supply chain disruptions and inflation, the company remains positioned for long-term value creation.
The board of directors of Hillenbrand has declared a quarterly cash dividend of $0.2175 per share on its common stock. This dividend is set to be paid on June 30, 2022, to shareholders of record by the close of business on June 16, 2022. Hillenbrand is a global diversified industrial company, focusing on profitable growth and cash generation across various industries including industrial manufacturing and death care in North America.
On May 3, 2022, Hillenbrand (NYSE: HI) and Net Impact announced a partnership to create the 2022 Plastics & Circularity Case Competition, focused on enhancing sustainability in the plastics value chain. This initiative aims to engage future innovators in addressing plastic lifecycle challenges. Hillenbrand will determine the competition's goals, while Net Impact will connect participants with sustainability leaders. The event will take place in fall 2022, reflecting both organizations' commitment to responsible environmental practices and fostering collaboration in addressing plastic waste.
Hillenbrand, Inc. (NYSE: HI) has scheduled a conference call for May 10, 2022, at 8:00 a.m. ET to discuss its second-quarter fiscal results for the period ending March 31, 2022. The earnings press release will be issued post-market on May 9, 2022. The call can be accessed by dialing +1 (877) 407-8012 for U.S. listeners or +1 (412) 902-1013 for international callers, using conference ID number 13728201. A live webcast will also be available and archived on their investor relations website.
Hillenbrand, Inc. (NYSE: HI) has partnered with Girls Inc. to promote the development of female leaders in STEM fields. Announced on March 29, 2022, this partnership will support the STEM and College and Career Readiness Program, aimed at inspiring young women to pursue careers in science, technology, engineering, and mathematics. Hillenbrand's involvement includes creating video content featuring female STEM professionals to build a virtual library for Girls Inc. and fostering a culture of inclusion within its workforce.
Hillenbrand, Inc. (NYSE: HI) announced the appointment of Robert VanHimbergen as Executive Vice President, Finance, effective March 14, 2022. He will become Chief Financial Officer on April 30, 2022, succeeding Kristina Cerniglia, who has served for eight years. VanHimbergen brings over 20 years of global financial expertise, previously at Johnson Controls, where he led finance functions and was part of the executive team. His strategic leadership is expected to enhance Hillenbrand's growth and shareholder value.
The Hillenbrand board has elected Helen Cornell as Vice Chairperson, effective immediately, and she will become Chairperson upon Joe Loughrey's retirement by the 2023 annual meeting. Loughrey praised Cornell's leadership, emphasizing the board's commitment to governance. Cornell, with experience as CFO at Gardner Denver and current CEO of Owensboro Grain, has been on Hillenbrand's board since 2011. Gary Collar will succeed her as Chairperson of the Compensation and Management Development Committee. The transition aims to assure continued governance and support for the company’s growth.
The board of directors of Hillenbrand has declared a quarterly cash dividend of $0.2175 per share on common stock. This dividend is payable on March 31, 2022, to shareholders of record as of March 17, 2022. Hillenbrand operates globally with a diversified industrial portfolio, aiming for profitable growth and strong cash generation to enhance shareholder value.
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