Hillenbrand Reports Double-Digit Revenue Growth

Hillenbrand, an industrial company, has experienced strong performance in its recent acquisition of Schenck Process Food and Performance Materials, resulting in double-digit revenue growth.

According to the company's financial report, for the quarter ended December 31, Hillenbrand reported a net income of $17.2 million, or 24 cents per share. This is a decrease from the year-ago quarter when they reported a net income of $45.5 million, or 65 cents per share.

Adjusted earnings were 69 cents per share, slightly exceeding analysts' expectations of 68 cents.

Net sales also saw an increase, rising to $773.3 million from $655.7 million. Although analysts had anticipated $778 million, Hillenbrand's performance remained impressive.

To further enhance its financial standing, the company has announced a cost-savings and restructuring program. It is expected to generate annual run-rate savings of $15 million, with half of this amount projected to be realized within fiscal 2024. However, there will be a $20 million charge related to the program this year.

Looking ahead, Hillenbrand is confident in its second-quarter performance, estimating adjusted earnings per share to be between 71 cents and 76 cents.