Hillenbrand Swings to Quarterly Profit

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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 second quarter net income of $38 million, compared to a net loss of $21.9 million during the same period last year. Chief Executive Officer Joe Raver says the turnaround was partially driven by a strong performance from the company’s Process Equipment Group and a continued strong demand for large plastics projects. 

"The Process Equipment Group delivered another strong quarter driven by continued momentum in large extrusion and material handling systems. We've experienced robust demand for new plastics projects, especially in North America and Asia, where the majority of new polyolefin capacity is forecasted," said Raver. "On the other hand, it was a challenging quarter for Batesville. The mortality rate associated with the flu season was significantly less severe than last year, which resulted in a steeper decline in the demand for burial caskets in the quarter compared to the longer-term trends we've observed."

Hillenbrand says the revenue growth can also be attributed to the continued benefit of last quarter’s acquisition of BM&M Screening Solutions. The company said BM&M “performed well in its first full quarter as a part of Hillenbrand and is on track to meet management's expectations.”

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