Hillenbrand (NYSE: HI) reported Q2 EPS of $0.53, $0.14 better than the analyst estimate of $0.39. Revenue for the quarter came in at $648.9 million versus the consensus estimate of $647.7 million.

Fiscal 2020 Outlook

As previously communicated on April 6, 2020, Hillenbrand temporarily suspended fiscal 2020 guidance due to the uncertain duration and impact of the COVID-19 pandemic on operational and financial performance. We intend to reintroduce our full year outlook as the situation allows. At this time, Hillenbrand anticipates its fiscal third quarter performance will be lower year-over-year based on reduced global economic activity.

A Note on Financial Reporting

In consideration of the Milacron acquisition, beginning in the fiscal third quarter of 2020, the company plans to report adjusted EPS results that exclude after-tax acquisition-related intangible asset amortization. The company believes reporting adjusted EPS in this manner better reflects its core operating results and offers greater consistency and transparency.

Applying this approach, adjusted EPS for the second quarter of 2020 was $0.70, an increase of $0.17 over the adjusted EPS for the quarter reported above, which excludes $18 million of intangible asset amortization in addition to the backlog amortization that has already been excluded.

A full reconciliation between GAAP and adjusted measures is included at the end of this release.

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