Hillenbrand (HI) Reports Q4 EPS of $0.67, Revenues Beat; Initiates FY19 EPS Outlook
Hillenbrand (NYSE: HI) reported Q4 EPS of $0.67, versus $0.00 reported last year. Revenue for the quarter came in at $475 million versus the consensus estimate of $449.9 million.
Fiscal Fourth Quarter 2018 Highlights:
- Record quarterly revenue of $475 million increased 7% over prior year driven primarily by Process Equipment Group revenue growth of 12%
- Net income grew 16% to $45 million year over year; adjusted EBITDA of $81 million was down 1%
- GAAP EPS of $0.70 increased 17%, and adjusted EPS of $0.67 increased 8% vs. prior year
- Order backlog grew 29% year over year to a record level of $815 million
- Cash flow from operations of $92 million decreased $51 million compared to prior year driven primarily by changes in working capital
Fiscal Year 2018 Highlights and 2019 Guidance:
- Revenue of $1.77 billion increased 11% over prior year driven primarily by Process Equipment Group revenue growth of 19%
- Net income of $77 million decreased 39% compared to prior year largely due to impairment charges recorded in the second quarter; adjusted EBITDA grew 5% to $294 million
- GAAP EPS of $1.20 decreased 39% largely due to impairment charges recorded in the second quarter; adjusted EPS of $2.43 increased 15% year over year
- Record cash flow from operations of $248 million
- Fiscal 2019 guidance: GAAP EPS expected to be $2.40 to $2.55; adjusted EPS expected to be $2.45 to $2.60
"We finished the year with solid financial results, highlighted by record revenue, record earnings per share, and record backlog. The Process Equipment Group team continues to execute on our strategy and delivered strong top line growth while improving margins in the segment for the fifth consecutive year. Batesville worked through a number of challenges to deliver improved free cash flow despite lower revenue and earnings," said Joe A. Raver, President and Chief Executive Officer of Hillenbrand.
GUIDANCE:
Hillenbrand sees FY2019 EPS of $2.45-$2.60, versus the consensus of $0.00.
For earnings history and earnings-related data on Hillenbrand (HI) click here.