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) provides essential industrial processing solutions through its Advanced Process Solutions, Molding Technology Systems, and Batesville segments. This news hub offers investors and industry professionals centralized access to official updates and market developments.
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Hillenbrand reported Q2 fiscal 2021 results with revenue of $722 million, an 11% increase year-over-year, driven by Molding Technology Solutions and COVID-19 related demand at Batesville. Net income rose to $78 million or $1.03 per share, compared to a loss last year, supported by the sale of ABEL. Adjusted EBITDA grew by 21% to $134 million, with a margin of 18.6%. Despite a 3% revenue decline in Advanced Process Solutions, backlog reached a record $1.2 billion. The company expects Q3 revenue between $665 million and $695 million.
Hillenbrand, Inc. (NYSE: HI) has scheduled a conference call for May 5, 2021, at 8:00 a.m. ET to discuss its second-quarter fiscal results for 2021, which ended on March 31, 2021. The results will be released after market close on May 4, 2021. Investors can access the live webcast and presentation on Hillenbrand's investor relations website. Listeners in the U.S. can dial +1 (877) 407-8012 to participate. A replay will be available until May 19, 2021. Hillenbrand focuses on diversified industrial sectors with a commitment to profitable growth and cash generation.
Hillenbrand has completed the sale of Abel Pumps to IDEX Corporation for approximately $103.5 million. This strategic divestiture aligns with Hillenbrand's goal to streamline its portfolio and enhance financial flexibility. The company plans to utilize the proceeds to reduce leverage and reinvest in organic growth opportunities. CEO Joe Raver emphasized this move as a vital step towards increasing shareholder value and strengthening business platforms.
IDEX Corporation (NYSE:IEX) has successfully completed its acquisition of Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE:HI). Abel is known for its advanced reciprocating positive displacement pumps tailored for demanding applications in sectors such as mining, marine, and wastewater. This strategic acquisition is set to enhance IDEX's fluidics capabilities and expand its market reach. Abel's operational headquarters is in Germany, with additional locations in Spain and the U.S. IDEX aims to leverage Abel's expertise to improve its solutions for its customers' fluid management challenges.
Hillenbrand, Inc. (NYSE: HI) has announced the pricing of a public offering for $350 million in senior unsecured notes at a rate of 3.75%, maturing in 2031. The offering is expected to close around March 3, 2021. The net proceeds are aimed at general corporate purposes, including the partial repayment of a $500 million term loan. The offering is underwritten by HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, and Commerz Markets LLC. The press release contains forward-looking statements, highlighting potential risks associated with future projections.
Hillenbrand announced the appointment of Leo Kulmaczewski as Senior Vice President of Operations Center of Excellence, effective Feb 16, 2021. He will focus on implementing manufacturing and quality best practices across the organization, optimizing Hillenbrand’s global footprint, and supporting growth initiatives. Kulmaczewski aims to advance the Hillenbrand Operating Model while integrating the Milacron businesses. His previous roles include senior operations positions at Belden and Leica Biosystems. This strategic move is expected to drive operational efficiency and support Hillenbrand’s growth targets.
The board of directors of Hillenbrand (NYSE: HI) has declared a quarterly cash dividend of $0.2150 per share on its common stock. This dividend is payable on March 31, 2021, to shareholders of record as of March 17, 2021. Hillenbrand is a diversified industrial company with a focus on profitable growth and cash generation, operating in various industries including death care in North America.
Hillenbrand reported a strong first quarter for fiscal 2021, with revenue of $693 million, a 22% year-over-year increase, mainly driven by heightened demand for COVID-19 related solutions and contributions from Milacron. GAAP EPS rose to $1.01, while adjusted EPS increased 28% to $0.96. The company experienced a record backlog of $1.36 billion, reflecting a 32% growth year-over-year, and cash flow from operations improved by $48 million. Fiscal Q2 guidance anticipates adjusted EPS of $0.85 to $0.95.
Hillenbrand, Inc. (NYSE: HI) has announced a conference call and webcast scheduled for February 4, 2021, at 8:00 a.m. ET to discuss its financial results for the first quarter of fiscal year 2021, which ended on December 31, 2020. The company will release its earnings report post-market on February 3, 2021. The call can be accessed by dialing +1 (877) 407-8012 (U.S./Canada) or +1 (412) 902-1013 (international), using conference ID 13715095. A replay will be available until February 18, 2021. More information can be found on the investor relations website.
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