Hillenbrand (NYSE: HI) reported Q1 EPS of $0.49, $0.04 better than the analyst estimate of $0.45. Revenue for the quarter came in at $410 million versus the consensus estimate of $390.05 million.

• Revenue of $410 million increased 3% year over year driven by Process Equipment Group revenue growth of 7%
• GAAP EPS of $0.45 increased 59% and adjusted EPS of $0.49 decreased 9% due primarily to changes in the effective tax rate
• Order backlog grew 33% year over year to a record level of $946 million driven primarily by continued demand for large plastics projects
• Cash flow from operations of $36 million increased $9 million compared to prior year driven primarily by reduced working capital requirements
• Completed the acquisition of BM&M Screening Solutions, Ltd. during the quarter for $26 million
• Reaffirming fiscal 2019 guidance for GAAP EPS of $2.40 to $2.55, adjusted EPS of $2.45 to $2.60, and revenue growth of 1% to 3%

"We extended our run of sequential backlog growth in the Process Equipment Group to nine consecutive quarters. Demand for large plastics projects remained strong in the first quarter, and we continued to capitalize on our differentiated capabilities to deliver comprehensive, end-to-end solutions to our customers. This bodes well for the future of our highly profitable parts and service business and advances our strategy to increase our base of recurring revenue," said Joe Raver, President and CEO of Hillenbrand.

"The acquisition of BM&M builds on our portfolio of leading separation technologies. We believe we can expand BM&M globally by leveraging Rotex's sales channels, footprint, and diverse manufacturing and service capabilities," said Raver. "Acquisitions remain a key element of our profitable growth strategy. We will remain disciplined as we seek additional strategic opportunities we believe will benefit our business and our shareholders."

GUIDANCE:

Hillenbrand sees FY2019 EPS of $2.45-$2.60, versus the consensus of $2.53.

For earnings history and earnings-related data on Hillenbrand (HI) click here.