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) features a steady flow of corporate and financial news that reflects its role as a global industrial company providing highly engineered, mission-critical processing equipment and solutions. News releases describe how Hillenbrand’s industrial brands serve end markets that include durable plastics, food, and recycling, and how the company communicates with investors and other stakeholders about its operations and strategic decisions.
Visitors to this HI news page can review earnings announcements and related commentary, where Hillenbrand reports segment performance for Advanced Process Solutions and Molding Technology Solutions, discusses factors affecting net revenue and adjusted EBITDA, and explains the impact of portfolio changes such as the divestiture of the Milacron injection molding and extrusion business and the sale of its minority stake in TerraSource Holdings. These releases also outline the company’s use of non-GAAP financial measures and provide context for trends in demand, tariffs, and cost initiatives.
The news flow also covers capital structure and financing updates, including the redemption of senior notes, amendments and extensions of syndicated credit agreements and L/G facilities, and the use of asset sale proceeds to reduce debt. Dividend declarations by the board of directors are announced through regular press releases, indicating the timing and amount of quarterly cash dividends on Hillenbrand’s common stock.
A significant portion of recent news relates to the pending acquisition of Hillenbrand by an affiliate of Lone Star Funds. Press releases describe the definitive merger agreement, the agreed per-share cash consideration, the expected transition to private ownership, and the conditions required to close the transaction. Additional news items address change of control offers for Hillenbrand’s senior notes in connection with the merger and the shareholder approval process documented in SEC filings.
Beyond financial and transactional updates, Hillenbrand’s news includes recognition for corporate responsibility and sustainability, such as its inclusion on Newsweek’s list of America’s Most Responsible Companies. Together, these items provide a consolidated view of how Hillenbrand reports on its industrial operations, portfolio evolution, financing activities, and governance-related developments over time.
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.
Hillenbrand (NYSE: HI) announced a definitive agreement to sell Abel Pumps, L.P. and affiliates to IDEX Corporation (NYSE: IEX) for $103.5 million in cash. This decision aligns with Hillenbrand's strategy to exit the ABEL business and streamline its portfolio. The transaction is expected to close in the second fiscal quarter of 2021, subject to customary conditions. Proceeds will be used to reduce debt and reinvest in growth opportunities. This follows the recent sale of Red Valve, enhancing Hillenbrand's financial flexibility and shareholder value.
IDEX Corporation (NYSE:IEX) has signed a definitive agreement to acquire Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE: HI) for $103.5 million in cash. Abel Pumps specializes in high-performance reciprocating pumps for various critical sectors, including mining and wastewater. Abel’s annual revenue is approximately $34 million. This acquisition is expected to enhance IDEX's pump manufacturing expertise and expand its offerings. The deal is anticipated to close in Q1 2021, pending regulatory approvals and customary conditions.
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