Hillenbrand Inc Stock Price, News & Analysis

Hillenbrand, Inc. (NYSE: HI) is set to announce its second-quarter earnings for fiscal year 2023 on May 8, 2023, post-market closure. A conference call will occur on May 9, 2023, at 8:00 a.m. ET, where executives will discuss the financial results from the quarter ending March 31, 2023. Interested parties can participate via a live webcast, which will also be archived until June 6, 2023. This call is crucial for investors seeking insights into Hillenbrand’s performance across its global portfolio, which includes key markets such as durable plastics, food, and recycling.

LongRange Capital has appointed Andrew Cialino as Principal and Head of Business Development. Cialino, formerly with SFW Capital Partners, brings extensive experience in middle market business development. His role will focus on enhancing deal origination and sourcing for the firm. LongRange, which closed its first fund with $1.5 billion in commitments, recently acquired Batesville Services from Hillenbrand (NYSE:HI). This acquisition aligns with LongRange's strategy to invest in private middle market businesses within fundamental industries.

Hillenbrand (NYSE: HI) held its first annual meeting of shareholders on February 27, 2023, under newly appointed Chairperson Helen Cornell, who succeeded F. Joseph Loughrey. Cornell, who joined the board in 2011, emphasized the company's transformation into a pure-play industrial entity, enhancing its focus on core industries. CEO Kim Ryan noted Cornell's manufacturing expertise as beneficial for shareholders. Hillenbrand provides critical processing equipment to various sectors globally, positioning itself for continued growth.

The board of directors of Hillenbrand (NYSE: HI) has announced a quarterly cash dividend of $0.22 per share on its common stock. This dividend is set to be paid on March 31, 2023, to shareholders recorded as of the close of business on March 17, 2023. Hillenbrand is a global industrial company that provides engineered processing equipment and solutions across various sectors, including durable plastics, food, and recycling, serving customers in over 100 countries.

Hillenbrand, Inc. (NYSE: HI) reported Q1 results for fiscal 2023, showing a 16% revenue increase to $656 million, with a 4% organic growth rate. GAAP EPS rose to $0.35, a 21% increase year-over-year, while adjusted EPS improved 25% to $0.70, exceeding guidance. The backlog stood at $1.96 billion, reflecting a 14% increase. Despite solid performance in the Advanced Process Solutions segment, challenges continue in Molding Technology Solutions due to delays in customer decisions. The company updated its fiscal 2023 guidance, projecting adjusted EPS of $3.25 to $3.55. The divestiture of the Batesville business segment was finalized on February 1, 2023, enhancing its focus as a pure-play industrial company.

LongRange Capital has successfully completed its acquisition of Batesville Services from Hillenbrand (NYSE: HI). Batesville, a century-old leader in death care products and services in North America, provides vital solutions for funeral professionals and families. Chris Trainor continues as CEO, emphasizing the company's commitment to innovation and growth. LongRange aims to foster expansion and enhance Batesville's service offerings, signaling a potential strengthening of the brand's market position. The acquisition reflects LongRange's strategy of building middle market businesses with long-term value in focus.

Hillenbrand has completed the sale of its Batesville business segment to LongRange Capital for $761.5 million, marking its transformation into a pure-play industrial company. This strategic divestiture allows Hillenbrand to focus on high-growth markets such as durable plastics, food, and recycling. The transaction is expected to yield after-tax net proceeds of approximately $530 million, which will primarily be used for debt reduction. CEO Kim Ryan emphasized the company's commitment to enhancing shareholder value through focused investments.