Connect With Us

Inside INdiana Business
Subscribe Now Log In
  • Home
  • News
    • Education
    • Health
    • Tech
    • STEM
    • Advanced Manufacturing & Logistics
    • Life Sciences
    • Ag INnovation
    • INPower
  • Videos
  • Big Wigs
    • Submit Big Wigs
  • Events
    • Engage Central Indiana – Indianapolis
    • Engage Northeast Indiana – Fort Wayne
    • Engage West Central Indiana – Terre Haute
    • Engage Greater Lafayette – West Lafayette
    • Engage Northwest Indiana – Valparaiso
    • Engage South Bend – Elkhart
    • Engage Southwest Indiana – Evansville
  • Newsletters
  • Podcasts
  • On-Air
    • TV & Radio Listings
  • Contact
    • About IIB
    • Meet the Team
    • Contact Us
    • Advertise
    • Gift Cards
    • Flagship Stations
    • Gerry’s Message
    • Speaking Engagement Request

Connect With Us

Hillenbrand Sees Quarterly Loss

Friday, May 8, 2020 12:00 PM EDT Updated: Friday, May 8, 2020 12:08 PM EDT
By Mary Roberts, Writer/Reporter
Hillenbrand Sees Quarterly Loss Hillenbrand is headquartered in Batesville. (photo courtesy Hillenbrand)

Batesville-based Hillenbrand Inc. (NYSE: HI) is reporting a fiscal second quarter net loss of $74 million, compared to net income of $38 million during the same period last year. The company says the drop is due to soft demand across certain key industrial end markets, including automotive, as well as the impact of the COVID-19 pandemic.

The company reported revenue of $649 million, an increase of 40% compared to the prior year. The company says the recently acquired Milacron segment added 43% to revenue in its first full quarter as part of Hillenbrand, which was partially offset by a decrease of 3% in organic revenue.

“We delivered solid operating results for the fiscal second quarter, despite the current economic environment. We continued to see strength in large polyolefin systems projects, which contributed to record backlog, and Batesville delivered solid top- and bottom-line results. We look forward to capturing the full benefits of the combined companies, beginning with our projected year one synergies,” said Joe Raver, president and chief executive officer of Hillenbrand.

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

Story Continues Below

Most Popular Stories

  • Catalent cuts 150 leadership, support jobs in Bloomington

  • Here’s who Holcomb appointed to commissions, boards

  • Nursing organization CEO to retire, new leader named

  • Study: Small modular nuclear could bring energy benefits for Purdue

  • Indy construction company marks 100-year milestone

  • Applications open for ‘Best Places to Work in Manufacturing’

Perspectives

Two cooks in the kitchen? Dealing with leadership overlap

Two cooks in the kitchen? Dealing with leadership overlap

Businesses go through leadership transitions for many reasons, including retirements, resignations, buyouts, and more. What happens when a transition occurs, and the previous owner is still in the picture?...

Inside INdiana Business

Inside INdiana Business
A division of IBJ Media

1 Monument Circle, Suite 300
Indianapolis, IN 46204

PHONE: (317) 634-6200

FAX: (317) 263-5060

NEWSLETTER@IIBNEWS.COM

  • Home
  • News
  • Videos
  • Gerry Dick
  • Newsletters
  • On-Air
  • Contact

Copyright © 2023 All Rights Reserved Privacy Policy | Terms of Service