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Hillenbrand, Inc. has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports net revenue of $3,182.8 million, an increase from $2,826.0 million in the previous year, primarily driven by the acquisition of the Schenck Process Food and Performance Materials business.
Gross profit for the year was $1,056.5 million, up from $948.2 million in the prior year, with a gross profit margin of 33.2%.
Operating expenses increased to $707.8 million from $574.0 million, influenced by acquisition-related costs and restructuring charges.
The company recorded impairment charges of $265.0 million related to goodwill and intangible assets within its Molding Technology Solutions segment.
Interest expense rose to $121.5 million, reflecting increased borrowings for recent acquisitions.
Hillenbrand reported a net loss of $211.0 million, compared to a net income of $569.7 million in the previous year, primarily due to impairment charges and increased expenses.
Cash provided by operating activities was $191.3 million, and cash used in investing activities was $26.8 million, reflecting the acquisitions and capital expenditures.
The company completed the divestiture of its historical Batesville segment, resulting in a strategic shift and a gain on divestiture of $443.1 million in the prior year.
Hillenbrand's Advanced Process Solutions segment reported net revenue of $2,288.0 million, driven by acquisitions and increased aftermarket parts sales.
The Molding Technology Solutions segment reported a decrease in net revenue to $894.8 million, impacted by lower sales volumes in injection molding and hot runner equipment.
The filing details the company's strategy to focus on growth through acquisitions and operational efficiency improvements.
Hillenbrand's capital allocation priorities include maintaining financial sustainability, growing the business through strategic investments, and returning capital to shareholders.
The company identified risks including market volatility, competition, and regulatory changes that could impact future performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hillenbrand Inc annual 10-K report dated November 19, 2024. To report an error, please email earnings@qz.com.