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Jun 30, 2021
Hillenbrand Q3 2021 Earnings Report
Hillenbrand had a strong quarter with exceptional cash generation and record backlog due to continued momentum in its industrial businesses, and Batesville performed better than expected.
Key Takeaways
Hillenbrand's Q3 2021 results showed a 14% increase in revenue to $695 million, driven by growth in Molding Technology Solutions. GAAP EPS increased by 66% to $0.53, and adjusted EPS rose by 5% to $0.85. The company's total backlog reached a record $1.77 billion, a 57% increase year over year. Cash flow from operations increased to $184 million, and net leverage decreased to 1.4x.
Revenue of $695 million increased 14% year over year, with pro forma revenue up 18%.
GAAP EPS of $0.53 increased 66% compared to the prior year, and adjusted EPS of $0.85 increased 5%.
Record total backlog of $1.77 billion increased 57% year over year, or 62% on a pro forma basis.
Cash flow from operations of $184 million increased $109 million compared to the prior year.
Hillenbrand
Hillenbrand
Hillenbrand Revenue by Segment
Revenue by Segment
Advanced Process Solutions Revenue
CapyFin.comMolding Technology Solutions Revenue
CapyFin.com Forward Guidance
The Company’s outlook assumes a continued gradual stabilization of the global economy and no significant increase in pandemic-related disruptions to the Company’s businesses.
Positive Outlook
- Total quarterly revenue is expected to be between $713 and $738 million, an increase of 6% to 9% year over year on a pro forma basis, which excludes Red Valve and ABEL
- Advanced Process Solutions revenue is expected to be between $340 and $350 million, an increase of 9% to 12% on a pro forma basis, which excludes Red Valve and ABEL
- Molding Technology Solutions revenue is expected to be between $238 and $250 million, an increase of 10% to 15%
- Adjusted EPS is expected to be in the range of $0.82 to $0.92
Challenges Ahead
- Continued uncertainties related to the COVID-19 pandemic, including pandemic duration, severity and resurgence in various parts of the world
- Vaccine availability and effectiveness
- Supply chain disruptions
- Other effects
Revenue & Expenses
Visualization of income flow from segment revenue to net income