Hillenbrand Inc Stock Price, News & Analysis

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.

The board of directors of Hillenbrand has declared a quarterly cash dividend of $0.2150 per share on its common stock. The dividend is payable on June 30, 2021, to shareholders recorded by the close of business on June 16, 2021. This financial action reflects the company's commitment to providing value to its shareholders while pursuing profitable growth across its diverse industrial portfolio.