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Dec 31, 2022
Hillenbrand Q1 2023 Earnings Report
Hillenbrand reported a solid start to fiscal 2023, with revenue from Advanced Process Solutions segment stronger than expected and the sale of Batesville business segment completed.
Key Takeaways
Hillenbrand's fiscal first quarter 2023 showed a 16% increase in revenue from continuing operations to $656 million, with a 4% organic increase. GAAP EPS from continuing operations increased 21% to $0.35, while adjusted EPS increased 25% to $0.70. The company updated its FY23 adjusted EPS guidance to $3.25 - $3.55.
Completed transformation into a pure-play industrial company with the sale of Batesville on February 1, 2023.
Revenue from continuing operations increased 16% to $656 million, with organic revenue up 4%.
GAAP EPS from continuing operations increased 21% to $0.35, and adjusted EPS increased 25% to $0.70.
Backlog of $1.96 billion increased 14%, or 5% organically.
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 updated annual guidance for fiscal year 2023 and quarterly adjusted EPS guidance for fiscal Q2 on a continuing operations basis.
Positive Outlook
- FY23 adjusted EPS from continuing operations of $3.25 - $3.55
- Fiscal Q2 adjusted EPS from continuing operations of $0.65 - $0.73
- Overall estimates for annual revenue, adjusted EBITDA, and adjusted EPS raised to reflect more favorable foreign currency estimates
- Inclusion of the acquisition of Peerless in the updated guidance
- Updated Revenue Outlook FY 2023 Range: Hillenbrand - Continuing Operations $2,770 - $2,860
Challenges Ahead
- Lower expected performance for Molding Technology Solutions due to the impact of continuing delays in customer orders
- Challenging macroeconomic environment, with continued delays in customer decisions impacting orders within our Molding Technology Solutions segment
- Inflation
- Unfavorable foreign currency translation
- Higher interest expense
Revenue & Expenses
Visualization of income flow from segment revenue to net income