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Dec 31, 2023
Hillenbrand Q1 2024 Earnings Report
Hillenbrand reported first quarter fiscal 2024 results, with revenue and adjusted earnings per share in line with expectations, led by the Schenck Process Food and Performance Materials (“FPM”) acquisition and aftermarket growth.
Key Takeaways
Hillenbrand's first quarter results showed an 18% increase in revenue to $773 million, driven by acquisitions, though organic revenue decreased by 7%. GAAP EPS decreased to $0.25, while adjusted EPS decreased slightly to $0.69. The company is implementing cost savings measures in its Molding Technology Solutions segment due to sustained demand softness.
Revenue increased by 18% to $773 million, but organic revenue decreased by 7%.
GAAP EPS decreased to $0.25, and adjusted EPS decreased slightly to $0.69.
Backlog increased by 10% year over year and 2% sequentially, reaching $2.15 billion.
A cost savings and restructuring program was announced for the Molding Technology Solutions segment, expected to yield $15 million in annual run-rate savings.
Revenue by Segment
Forward Guidance
Hillenbrand is maintaining its annual guidance range for fiscal year 2024 and providing a fiscal Q2 outlook for adjusted earnings per share. The Company expects MTS performance to now be at the lower end of the range due to softer than expected Q1 performance and order volume, partially offset by the announced cost savings actions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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