Hillenbrand, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Provides Revenue Guidance for the Second Quarter of 2018; Revises Earnings Guidance for the Year 2018
January 31, 2018 at 04:16 pm
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Hillenbrand, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, net revenue was $397.2 million against $356.1 million a year ago. Income before income taxes was $42.8 million against $28.6 million a year ago. Consolidated net income was $19.1 million against $21.9 million a year ago. Net income was $18.1 million against $21.7 million a year ago. Basic and Diluted earnings per share were $0.28 against $0.34 a year ago. Net cash provided by operating activities was $26.9 million against net cash used in operating activities of $48.7 million a year ago. Adjusted net income was $34.5 million against $27.0 million a year ago. Adjusted diluted EPS was $0.54 against $0.42 a year ago. Adjusted EBITDA increased 16% to $65 million.
For the second quarter, The company expects revenue to be slightly higher than the prior year.
The company is updating its 2018 EPS guidance based on tax reform, which results in a lower expected adjusted effective tax rate for the fiscal year of 26% to 28%, down from the previous estimate of approximately 31%. On a consolidated basis, the company forecasted revenue growth of 2% to 4%. The company now expect to be at the higher end of guidance range for both revenue and EPS based on strengths in order backlog and the severity of the flu season. As a result of the tax reform legislation, they are decreasing guidance for GAAP EPS from $2.11 to $2.23 to $1.98 to $2.10 driven primarily by the toll charge. Adjusted EPS raised to $2.28 - $2.40 from $2.16 - $2.28.
Hillenbrand, Inc. is a global industrial company that provides processing equipment and solutions. The Company operates through two segments: advanced process solutions and molding technology solutions. The advanced process solutions segment is a provider of process and material handling equipment, systems, and aftermarket parts and services for a variety of industries, including durable plastics, food and recycling. This segment's technologies include compounding, extrusion, material handling, conveying, mixing, ingredient automation, portion process, and screening and separating equipment. The molding technology solutions segment provides equipment, systems and aftermarket parts and service for the plastic technology processing industry. This segment has a product portfolio that includes injection molding and extrusion equipment, hot runner systems, mold bases and components, and maintenance, repair, and operating supplies. Its brands include Coperion, Milacron, K-Tron and Rotex.
Hillenbrand, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Provides Revenue Guidance for the Second Quarter of 2018; Revises Earnings Guidance for the Year 2018