Hillenbrand Revenue Grows Despite Quarterly Net Loss

Posted: Updated:
Hillenbrand is headquartered in Batesville. (photo courtesy Hillenbrand) Hillenbrand is headquartered in Batesville. (photo courtesy Hillenbrand)
BATESVILLE -

Batesville-based Hillenbrand Inc. (NYSE: HI) is reporting a second quarter net loss of $21.9 million, compared to net income of $33.4 million during the same period last year. The industrial manufacturer says, despite the drop, overall revenue grew 14 percent to $452 million.

Hillenbrand says the net loss was driven by a one-time, $63 million non-cash impairment charge related to a reporting unit of its Process Equipment Group business. The unit, according to the company, was adversely affected by decreased demand for equipment and parts used in the coal mining and power industries. The Process Equipment Group itself is reporting a 23 percent increase in revenue.

A spokesperson says adjusted earnings also grew 23 percent based on the company's revenue growth. Hillenbrand has also raised its projected revenue growth and adjusted earnings guidance for the fiscal year.

"We remain committed to the strategy and long term financial targets we laid out at our investor day in December, which we believe will lead to profitable growth and increasing shareholder value," said Joe Raver, chief executive officer of Hillenbrand. "Our capital allocation priorities are to reinvest in the business, both organically and through acquisitions, while returning cash to shareholders in the form of dividends and share repurchases."

You can connect to the full earnings report by clicking here.

  • Perspectives

    • Seven Steps to Overcome Your Fear of Writing

      "I hate to write!" While that phrase is music to my ears, because it ensures my income will persist, it also saddens me. Far too many people dislike writing, largely because they’re intimidated by the process of knitting words into sentences and sentences into paragraphs. Nearly everyone needs to write from time to time, and the ability to assemble words in a coherent way can impact your success. Whether you have to write reports, proposals, memos, or even emails...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Hoosier Companies Among 'Most Admired'

      Two Indiana companies are included in Fortune's 2019 list of the "World's Most Admired Companies." The list was determined by a survey of nearly 4,000 executives, directors and analysts who rated companies in their own industries based on criteria such as investment value, quality of management and ability to attract talent.

    • Books & Brews Acquires Flat12 Bierwerks

      Indianapolis-based Books & Brews has announced its acquisition of Flat12 Bierwerks, also based in Indy. Financial terms of the deal are not being disclosed, however Books & Brews says it will continue to operate Flat12 under the same brand name. The acquisition is a continuation of an existing partnership between the two entities. Books & Brews says Flat12 has been a brewery partner for the past two years, brewing all of B&B's flagship and seasonal beers.

    • Hoosier Companies Among 'Best and Brightest'

      Two Indiana companies are among more than 500 selected by the National Association for Business Resources as the 2018 Best and Brightest Companies to Work For in the Nation. The winners were chosen by an independent research firm from more than 2,400 nominations.

    • Indiana Liquor Group to Buy Save-On Liquor Chain

      Indiana Liquor Group LLC will work with the Indiana Alcohol & Tobacco Commission this week for final approval of its purchase of Save-On Liquor stores. Our partners at The Herald Bulletin report Phillip E. Miller agreed to sell the 31-location package store chain to ILG last month. 

    • Cook: Location, Funding Among Eleven Park Questions

      Several ambitious economic development projects are already taking center stage this year, particularly in central Indiana. Indianapolis-based KSM Location Advisors Chief Executive Officer Tim Cook and President Katie Culp say efforts like Eleven Park, which would include a new stadium for the Indy Eleven soccer team, and a potential casino in downtown Indianapolis are among the key projects being talked about. On the (i) on Economic Development segment on Inside INdiana Business...