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Sep 30, 2023
Hillenbrand Q4 2023 Earnings Report
Hillenbrand reported a revenue increase of 26% and an adjusted EPS increase of 45%, driven by acquisitions, including Schenck FPM, while organic revenue decreased slightly.
Key Takeaways
Hillenbrand's Q4 2023 results showed a significant increase in revenue and adjusted EPS, primarily due to recent acquisitions, particularly Schenck FPM. However, organic revenue experienced a slight decrease. The company is focused on managing economic uncertainties and integrating acquisitions for future growth.
Revenue increased by 26% to $763 million, including $43 million from Schenck FPM; organic revenue decreased by 1%.
GAAP EPS decreased to $0.24 from $0.44, while adjusted EPS increased by 45% to $1.13, including a $0.02 net contribution from Schenck FPM.
Adjusted EBITDA margin increased by 90 basis points to 19.3%.
Advanced Process Solutions (APS) revenue increased by 57%, with organic revenue up by 7%, while Molding Technology Solutions (MTS) revenue decreased by 10%.
Revenue by Segment
Forward Guidance
Hillenbrand is providing annual guidance for fiscal year 2024 and quarterly guidance for fiscal Q1 2024. Full Year adjusted EPS of $3.60 - $3.95; Q1 adjusted EPS of $0.66 - $0.71
Positive Outlook
- Momentum in recent acquisitions
- Outlook for continued organic growth within the APS segment
- Focused on driving efficiencies and optimizing costs in MTS segment
- Confident MTS segment is well positioned to return to growth
- Prioritizing deleveraging balance sheet and integrating recent acquisitions
Challenges Ahead
- Ongoing uncertainty within the global economic and geopolitical environment
- Challenging macro environment in MTS segment
- Top-line headwinds in MTS segment
- Does not assume a broader economic recession
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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