Hillenbrand Fiscal Year Profit Drops

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 fiscal full-year net income of $76.6 million, down from $126.2 million the previous year. Despite the drop, Chief Executive Officer Joe Raver says the manufacturer is in a good position as it starts a new fiscal year.

The company is also reporting fiscal fourth quarter net income of $44.5 million, up from $38.2 million during the same period in 2017. Raver says Hillenbrand ended the year with "solid financial results," including record revenue and a record backlog.

"Looking ahead, we expect continued organic growth and margin expansion in the Process Equipment Group as we leverage the Hillenbrand Operating Model to drive profitable growth," said Raver. "We are determined to offset cost pressure with strategic pricing and productivity initiatives across the business. We remain committed to our vision of transforming Hillenbrand into a world-class global diversified industrial company and creating long-term shareholder value."

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

  • Perspectives

    • Owe Taxes? What Went Wrong in 2018 and How to Survive It

      The 2018 tax filing deadline came and went. Whew! But for some Americans, the tax headache has just begun. This year was the first filing under the Tax Cuts and Jobs Act and while some taxpayers saw larger refunds others received a rude awakening. If you’re reeling from a large tax burden, this article is for you. The Root of the Problem Remember how excited you were when you received your first paycheck—followed by dismay when you saw how much was taken out for taxes.

    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

    • GPC is a subsidiary of Kent Corp.

      Ag Manufacturer Begins Expansion

      Iowa-based Grain Processing Corp. has broken ground on an expansion project in Daviess County, which has been more than four years in the making. The company is investing $70 million to expand its Washington plant, which could create up to 20 jobs when complete.

    • Should My Family Office Be Concerned About Cybersecurity?

      Data breaches are constantly in the news and most companies know they should be concerned about privacy and the security of their data, or at least recognize this is an important and complex area.

      However, most family offices are not sure how to start addressing their concerns, or worse, don’t view the family office as a target. The majority (58%) of malware attack victims were categorized as small businesses in 2018.[i]

    • Bosma Enterprises Hires Chief Strategy Officer

      Bosma Enterprises has added Jay Geshay as its new Chief Strategy Officer. Geshay will be an active participant in making strategic decisions for Bosma Enterprises and the Bosma Visionary Opportunities Foundation, and will be responsible for developing and executing strategic initiatives for our company. He previously was director of Impact Indiana and was also a Senior Vice President at United Way of Central Indiana. 

    • The Landing project involves redeveloping seven buildings and two parking lots into a mixed-use development.

      New Restaurant Concept Coming to The Landing

      The developers of a $34 million redevelopment project in downtown Fort Wayne have announced a new partnership. Cincinnati-based The Model Group says it is working with Cunningham Restaurant Group to bring a "new and unique" restaurant experience to The Landing.

    • McCloskey Appointed to IEDC Board

      Governor Eric Holcomb has appointed Fair Oaks Farms co-founder Sue McCloskey to the Indiana Economic Development Corporation Board of Directors. "To continue taking Indiana's economy to the next level, we need the experience and perspective of key industry experts like Sue McCloskey. She knows firsthand the challenges and opportunities faced by Hoosier entrepreneurs and agriculture businesses,” said Gov. Holcomb.