Hillenbrand reported a slight decrease in revenue compared to the prior year, but an increase on a pro forma basis. GAAP EPS increased by 9%, and adjusted EPS increased by 5%. The company's record backlog was driven by strong order intake in Advanced Process Solutions.
Revenue decreased 1% year-over-year but increased 1% on a pro forma basis and 7% excluding foreign currency exchange impacts.
GAAP EPS increased 9% year-over-year to $0.81, while adjusted EPS increased 5% to $1.05.
Record backlog of $1.76 billion increased 5% year-over-year on a pro forma basis, or 18% excluding foreign currency exchange impacts.
Strategic acquisitions of Herbold Meckesheim and Linxis Group were completed, and an agreement was signed to acquire Peerless.
Hillenbrand is providing annual guidance for fiscal year 2023 and quarterly guidance for fiscal Q1 2023.
Visualization of income flow from segment revenue to net income