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 reported strong financial results for FY 2021, with revenue reaching $2.9 billion, a 14% increase year-over-year. The company achieved a GAAP EPS of $3.31, compared to a loss of $0.82 last year. Adjusted EPS rose 19% to $3.79. The total backlog surged 43% to $1.72 billion. Fourth-quarter revenue was $755 million, a 9% increase, yielding an adjusted EPS of $1.00. Guidance for FY 2022 suggests adjusted EPS between $3.70 - $4.00.
Hillenbrand, Inc. (NYSE: HI) has announced a conference call scheduled for November 18, 2021, at 8:00 a.m. ET to discuss its fourth quarter and full fiscal year 2021 results, concluding on September 30, 2021. The press release detailing the financial results will be issued after market close on November 17, 2021. Interested parties can participate in the call using the provided dial-in numbers. The call will also be available through a live webcast, which will be archived on the company's investor relations website until December 17, 2021.
Hillenbrand, Inc. (NYSE: HI) has completed the divestiture of its TerraSource Global business to Right Lane Industries, establishing TerraSource Holdings, LLC. In return, Hillenbrand received a five-year note worth $25.6 million and maintains a 49% ownership interest in the new company, entitled to future distributions and a $1.5 million preferred dividend under specific conditions. This divestiture, part of a broader strategy, aims to streamline Hillenbrand’s portfolio and enhance shareholder value.
Hillenbrand (NYSE: HI) will present at the Sidoti Virtual Investor Conference 2021 on September 22, 2021, at 3:15 p.m. ET. CEO Joe Raver will lead the presentation, alongside Kim Ryan (Executive VP) and Kristina Cerniglia (CFO). Interested parties can register for the live event via the provided link. Post-event, presentation documents will be available on Hillenbrand's investor relations website. Hillenbrand is a diversified industrial company, known for its robust portfolio spanning various industries, including death care.
Hillenbrand reported a strong third quarter of fiscal 2021, achieving $695 million in revenue, a 14% increase year-over-year. Net income rose 66% to $40 million, or $0.53 per share, while adjusted EPS reached $0.85, up 5%. Record backlog of $1.4 billion reflects robust demand, particularly in Molding Technology Solutions and Advanced Process Solutions. However, Batesville faced a 1% revenue decline due to reduced burial casket sales. The outlook anticipates total revenue between $713 million and $738 million for Q4, reflecting growth despite ongoing challenges from COVID-19 and inflation.
Hillenbrand, Inc. (NYSE: HI) will conduct a conference call and webcast on August 5, 2021, at 8:00 a.m. ET, to discuss its third quarter results for fiscal year 2021, concluding on June 30, 2021. This call follows the release of financial results on August 4, 2021. Interested parties can access the webcast at ir.hillenbrand.com. A replay will be available until August 19, 2021.
Hillenbrand has elected Inderpreet Sawhney, previously Group General Counsel at Infosys, to its Board of Directors, expanding the board from 10 to 11 members. Sawhney brings over 25 years of experience, enhancing the board's governance with expertise in legal, ethics, and compliance across a global landscape. She aims to contribute to Hillenbrand's transformation and growth strategy, focusing on innovation. Sawhney will serve on the Audit and Nominating/Corporate Governance Committees, aligning her expertise with Hillenbrand’s ongoing goals to boost shareholder value.
Hillenbrand, Inc. (NYSE: HI) announced CEO Joe A. Raver's retirement at the end of 2021, with Kimberly K. Ryan succeeding him on January 1, 2022. Raver, who led the company for nearly a decade, expanded Hillenbrand from a $600 million death care business to a $2.5 billion global industrial firm. Ryan, who has been with Hillenbrand for 33 years, previously served as President of Coperion, achieving 30% revenue growth and improved EBITDA margins. The transition is effective immediately, with Ryan taking on responsibilities for the company’s diverse business portfolio.
Hillenbrand, Inc. (NYSE: HI) has elected Dennis W. Pullin, President and CEO of Virtua Health, to its Board of Directors. Pullin brings over 30 years of healthcare leadership experience, overseeing 14,000 employees at Virtua Health. Hillenbrand Chairperson Joe Loughrey emphasized Pullin's capabilities in operations, strategy, and governance, as well as his commitment to diversity and community engagement. Pullin will serve on the Board's Compensation and Management Development and Nominating/Corporate Governance Committees, contributing to Hillenbrand's growth strategy and transformation.