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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.
Hillenbrand
Hillenbrand
Hillenbrand Revenue by Segment
Revenue by Segment
Advanced Process Solutions Revenue
CapyFin.comMolding Technology Solutions Revenue
CapyFin.com 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
- Adj. EPS Outlook Full Year $3.20 - $3.30 Previous $3.30 - $3.50
Revenue & Expenses
Visualization of income flow from segment revenue to net income