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Jun 30, 2024
Hillenbrand Q3 2024 Earnings Report
Hillenbrand reported third quarter results, with revenue increasing but earnings decreasing due to impairment charges, while also updating its full-year outlook.
Key Takeaways
Hillenbrand's revenue increased by 10% to $787 million, primarily due to the FPM acquisition, though organic revenue decreased by 8%. GAAP EPS decreased significantly due to non-cash impairment charges, while adjusted EPS also decreased. The company is focused on cost management and synergy realization amidst a challenging macro environment, updating its full-year adjusted EPS guidance to $3.20 - $3.30 and Q4 adjusted EPS to $0.90 - $1.00.
Revenue increased 10% year-over-year to $787 million, driven by the FPM acquisition, but organic revenue decreased 8%.
GAAP EPS decreased due to $265 million in non-cash impairment charges; adjusted EPS decreased 11% to $0.85.
Restructuring program is on track to deliver $20 million in annual run-rate savings in FY25, with additional cost actions being accelerated.
FY24 adjusted EPS outlook updated to $3.20 - $3.30; Q4 adjusted EPS expected to be $0.90 to $1.00.
Revenue by Segment
Forward Guidance
Hillenbrand updated its annual guidance range for fiscal year 2024 and is providing a fiscal Q4 outlook for adjusted earnings per share. These changes primarily reflect reduced volumes stemming from lower than expected orders.
Positive Outlook
- Revenue Outlook Advanced Process Solutions $2,260 - $2,280
- Revenue Outlook Molding Technology Solutions $870 - $880
- Revenue Outlook Hillenbrand $3,130 - $3,160
- Adj. EBITDA Outlook Hillenbrand $502 - $512
- Q4 Adj. EPS Outlook $0.90 - $1.00
Challenges Ahead
- Revenue Outlook Advanced Process Solutions Previous $2,350 - $2,400
- Revenue Outlook Molding Technology Solutions Previous $880 - $900
- Revenue Outlook Hillenbrand Previous $3,230 - $3,300
- Adj. EBITDA Outlook Hillenbrand Previous $512 - $536
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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