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Hillenbrand Inc (HI-3.64%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in net revenue to $706.9 million from $773.3 million in the same quarter the previous year. This decrease is primarily attributed to lower volumes in the Advanced Process Solutions and Molding Technology Solutions segments.
Gross profit for the quarter was $235.0 million, compared to $251.0 million in the previous year. The gross profit margin improved by 70 basis points to 33.2%, driven by productivity improvements and favorable pricing.
Operating expenses increased to $171.1 million from $157.9 million, primarily due to higher business acquisition, divestiture, and integration costs.
The company reported a net income of $8.9 million for the quarter, down from $19.2 million in the previous year. The decrease is attributed to lower volumes and increased costs.
Cash used in operating activities was $11.3 million, compared to $24.0 million used in the previous year, reflecting favorable timing of working capital requirements.
Hillenbrand's Advanced Process Solutions segment reported a decrease in net revenue to $511.1 million from $568.3 million, due to a decline in volume.
The Molding Technology Solutions segment saw a decrease in net revenue to $195.8 million from $205.0 million, driven by lower sales in injection molding and hot runner equipment.
The filing also details a definitive agreement to sell a 51% ownership stake in its Milacron injection molding and extrusion business to an affiliate of Bain Capital, with the transaction expected to close in the second or third quarter of 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hillenbrand Inc quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.