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Jun 30, 2022
Hillenbrand Q3 2022 Earnings Report
Hillenbrand reported fiscal third quarter 2022 results, with revenue increasing by 4% and GAAP EPS increasing by 28%.
Key Takeaways
Hillenbrand's fiscal third quarter 2022 saw a revenue increase of 4% to $721 million, driven by pricing and volume growth in Molding Technology Solutions and Advanced Process Solutions. GAAP EPS rose by 28% to $0.68, and adjusted EPS increased by 8% to $0.92, benefiting from higher volume in Molding Technology Solutions and fewer shares outstanding. The company reaffirms midpoint of full year adj. EPS, narrowing range to $3.85 - $3.95.
Revenue increased 4% compared to prior year or 5% on a pro forma basis.
GAAP EPS increased 28%; adjusted EPS increased 8% largely due to higher volume in Molding Technology Solutions and lower shares outstanding.
Approximately $300 million of share repurchases were completed over the last 5 quarters.
The company achieved $75 million annual run-rate synergy target for Milacron integration ahead of schedule.
Hillenbrand
Hillenbrand
Hillenbrand Revenue by Segment
Revenue by Segment
Advanced Process Solutions Revenue
CapyFin.comMolding Technology Solutions Revenue
CapyFin.com Forward Guidance
Hillenbrand is updating its annual guidance for fiscal year 2022. Revenue and EBITDA margin guidance is on a pro forma basis, excluding the divested Red Valve, ABEL, and TerraSource businesses. Fiscal year 2022 guidance does not include any impact from the pending acquisitions of Herbold Meckesheim and LINXIS Group.
Positive Outlook
- Advanced Process Solutions Revenue: $1,245 - $1,255 million (6 – 7% YOY)
- Molding Technology Solutions Revenue: $1,040 - $1,050 million (4 – 5% YOY)
- Batesville Revenue: $625 - $630 million (Flat – 1% YOY)
- Total Hillenbrand Revenue: $2,910 - $2,935 million (4 – 5% YOY)
- Total Hillenbrand Adj. EPS: $3.85 - $3.95
Challenges Ahead
- Advanced Process Solutions Adj. EBITDA Margin: 19.5 – 20.0% (Flat – 50 bps YOY)
- Molding Technology Solutions Adj. EBITDA Margin: 20.3 – 20.8% (Flat – 50 bps YOY)
- Batesville Adj. EBITDA Margin: 20.5 – 21.0% ((520) – (470) bps YOY)
- Total Hillenbrand Adj. EBITDA: $518 - $537 million ( (3%) – 1% YOY)
- Uncertainty in the United States political and regulatory environment or global trade policy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income