Debt Reduction and Portfolio Simplification
Hillenbrand reduced debt by over $300 million during the fiscal year through the MIME divestiture and sale of minority interest in TerraSource, simplifying its portfolio.
Cost Synergies Achieved Ahead of Schedule
Achieved $30 million in run-rate cost synergies from Linxis and FPM acquisitions 20 months post-close, ahead of the original 3- to 5-year estimate.
Strong Market Activity and Key Orders
Post-third quarter, there has been an uptick in market activity with several key orders placed in the APS segment, giving confidence in Q4 and full-year outlook.
Improvement in MTS Segment
The MTS segment maintained stable orders with increased hot runner quoting activity in China and India, showing signs of modest growth in mold-making activities.
Increased Guidance for Fiscal Year
Hillenbrand raised its revenue guidance range from $2.56 billion to $2.62 billion to $2.59 billion to $2.63 billion, and adjusted EPS guidance to $2.20 to $2.35.