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Mar 31, 2022
Hillenbrand Q2 2022 Earnings Report
Hillenbrand reported a solid second quarter with increased revenue and adjusted EPS, driven by strong demand for industrial products and solutions.
Key Takeaways
Hillenbrand's fiscal second quarter 2022 results showed a 3% increase in revenue to $742 million and a 3% increase in adjusted EPS to $1.01. The company's total backlog increased by 14% to $1.7 billion. They reaffirmed full year adjusted EPS guidance of $3.80 to $4.00 and fiscal Q3 adjusted EPS of $0.83 to $0.90.
Revenue increased by 3% to $742 million compared to the prior year, or 5% on a pro forma basis.
GAAP EPS decreased 28% to $0.74, while adjusted EPS increased 3% to $1.01, primarily due to higher volume in Advanced Process Solutions.
Total backlog increased 14% to $1.7 billion compared to the prior year on a pro forma basis.
The company completed $67 million of share repurchases during the quarter and subsequently through May 5, 2022.
Revenue by Segment
Forward Guidance
Hillenbrand is updating its annual guidance for fiscal year 2022 and providing adjusted EPS guidance for fiscal third quarter. Revenue and EBITDA margin guidance is on a pro forma basis, excluding the divested Red Valve, ABEL, and TerraSource businesses.
Positive Outlook
- Reaffirming full year adj. EPS of $3.80 to $4.00
- Fiscal Q3 adj. EPS of $0.83 to $0.90
- Advanced Process Solutions Revenue $1,275 – $1,315 million, YOY 8 – 12%
- Molding Technology Solutions Revenue $1,015 – $1,045 million, YOY 2 – 5%
- Advanced Process Solutions Adj. EBITDA 20.0 – 21.0%, YOY 50 – 150 bps
Challenges Ahead
- Batesville Revenue $605 – $615 million, YOY (3) – (1)%
- Total Hillenbrand Adj. EBITDA $516 – $558 million, YOY (3) – 4%
- Molding Technology Solutions Adj. EBITDA 20.0 – 21.0%, YOY (30) – 70 bps
- Batesville Adj. EBITDA 20.0 – 21.0%, YOY (570) – (470) bps
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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