Batesville-based Hillenbrand Inc. (NYSE: HI) is reporting third quarter net income of $40 million, compared to $24 million during the same period a year ago. Chief Executive Officer Joe Raver says the company had “exceptional” cash generation due to continued momentum in the company’s industrial businesses.
Its Batesville division saw revenues slip one percent year over year due to lower burial casket sales resulting from a decline in deaths from COVID-19.
“I would like to thank our associates throughout the world for their continued dedication and execution in an environment that remains challenging due to COVID-19, rising inflation, and global supply chain disruptions said Raver. “We remain focused on driving growth through strategic investments in our large platform businesses while capturing the full benefits of the Milacron integration.”
Hillenbrand acquired Cincinnati-based Milacron Holdings Corp. in 2019. The company manufactures plastics-processing equipment. Click here to view the Q3 earnings report