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Dec 31, 2020
Hillenbrand Q1 2021 Earnings Report
Hillenbrand reported strong first-quarter results, driven by COVID-19 related demand and the Milacron acquisition. The company executed its portfolio simplification strategy with the sale of Red Valve and an agreement to sell ABEL.
Key Takeaways
Hillenbrand's first-quarter revenue increased by 22% year-over-year to $693 million, driven by strong COVID-19 related demand at Batesville and the inclusion of 50 additional days of Milacron revenue. GAAP EPS was $1.01, an increase of $1.06, and adjusted EPS was $0.96, a 28% increase. The company's record backlog increased 32% year-over-year to $1.36 billion.
Revenue of $693 million was 22% higher year over year, driven by strong COVID-19 related demand at Batesville and 50 additional days of Milacron revenue.
GAAP EPS of $1.01 increased by $1.06 primarily as a result of lower business acquisition and integration costs and a gain on the sale of Red Valve; adjusted EPS of $0.96 increased 28% primarily driven by strength in Batesville and Molding Technology Solutions
Record backlog increased 32% year over year to $1.36 billion led by continued demand for large plastics projects in Advanced Process Solutions (APS) and increased injection molding demand in Molding Technology Solutions (MTS).
Cash flow from operations of $66 million increased $48 million compared to prior year; net leverage decreased to 2.2x, down 0.5x sequentially.
Hillenbrand
Hillenbrand
Hillenbrand Revenue by Segment
Revenue by Segment
Advanced Process Solutions Revenue
CapyFin.comMolding Technology Solutions Revenue
CapyFin.com Forward Guidance
Hillenbrand is providing guidance for the fiscal second quarter 2021. Total quarterly revenue expected to increase 12% to 16% year over year on a pro forma basis. Adjusted EPS of 0.85 - $0.95
Positive Outlook
- Total quarterly revenue expected to increase 12% to 16% year over year on a pro forma basis
- Advanced Process Solutions: down 4% to flat
- Molding Technology Solutions: up 37% to 40%
- Batesville: up 20% to 25%
Revenue & Expenses
Visualization of income flow from segment revenue to net income