Core Viewpoint - Highland Copper Company has successfully completed its early site work and environmental mitigation program at the Copperwood Project in Michigan, demonstrating a commitment to responsible development and compliance with regulatory standards [1][2]. Environmental Mitigation Program - The early site work was completed safely, within budget, and in compliance with the Michigan Wetlands and Streams Permit, focusing on site preparation and environmental safeguards [2][3]. - The program included significant investments in environmental stewardship, with activities such as wetland creation and revegetation [3][4]. - The environmental mitigation efforts have shown positive impacts, with concurrent reclamation demonstrating that restoration can occur alongside development [3]. Key Activities and Achievements - Approximately 18 acres of compensating wetlands were constructed to offset impacted areas [4]. - Nearly 20,000 native trees, wildflowers, sedges, and rushes were successfully planted in newly created habitats [4]. - A commitment to establish a 717-acre wetland preservation area is underway, with plans for long-term management to ensure permanent protection beyond mining operations [4]. Infrastructure Improvements - The Choate Road crossing over Bluff Creek was improved by replacing culverts with a clear-span bridge to enhance fish passage and stream habitat quality [6]. - Stream restoration efforts in Bluff Creek are designed to improve stream flow properties and habitat quality, with ongoing reconstruction of eroded banks [8]. Company Overview - Highland Copper Company is focused on exploring and developing copper projects in Michigan's Upper Peninsula, owning the Copperwood deposit and a 34% stake in the White Pine North project [9]. - The company has 736,363,619 common shares issued and is listed on the TSX Venture Exchange under the symbol "HI" and on the OTCQB under "HDRSF" [9].

Core Insights - Highland Copper Company announced positive results from its 2025 metallurgical test work program for the Copperwood Project, indicating significant improvements in copper recovery and process efficiency [1][2][7] Metallurgical Test Work Program - The metallurgical test program initiated in Q1 2025 aimed to enhance the process plant design, incorporating ultrafine flotation technology and optimizing operating costs [2][8] - The redesigned process plant is expected to achieve copper recoveries of 87.6% at lower capital and processing costs, with a smaller scale and reduced power consumption [2][28] - Glencore Technologies is set to provide a performance guarantee related to the improved copper recovery estimates, reinforcing confidence in the test program's robustness [2][61] Engineering and Design Updates - The metallurgical update is a crucial part of Phase 1 detailed engineering, which focuses on finalizing design criteria for the process plant, mine, tailings, and water management [3][5] - Phase 1 engineering is overseen by Dr. Wynand van Dyk, who has extensive experience in mine design and operations [5] Process Circuit Optimization - The new mill-float-mill-float (MF2) circuit design includes a de-sliming stage, which allows for the rejection of up to 25% of mass from primary rougher tailings, leading to energy savings of 10% to 13.7% [8][20][28] - The optimized reagent scheme is projected to reduce operating costs by up to $1.00 per tonne milled while improving environmental, health, and safety performance [8][29] Performance Improvements - Kinetic rougher copper recoveries reached up to 92.4% at a target rougher concentrate grade of 4.5% copper, surpassing the 2018 baseline of 89.7% [8][35] - Locked-cycle tests confirmed up to 85.8% recovery at a 25% copper concentrate grade, demonstrating the effectiveness of the enhanced reagent scheme and MF2 configuration [8][40] Ultrafine Flotation Technology - The introduction of ultrafine flotation technology is expected to enhance the grade-recovery curve, crucial for project economics, while also reducing the processing plant's footprint and environmental impact [48][49] - Pilot-scale tests using the Jameson Cell have shown improved kinetics and recovery potential, affirming the value of this technology in the Copperwood flowsheet [52][60] Next Steps - The next steps include completing lock-cycle variability testing and confirming final process design criteria ahead of initiating Phase 2 of the detailed engineering program [9][8]

Group 1 - Hillenbrand (NYSE: HI) is expected to experience a revenue rebound due to increasing order momentum in both APS and MTS segments [1] - The company is focusing more on the Food, Health, and Nutrition markets, which are growing at a faster rate and offer better profit margins [1] - Hillenbrand is exiting the deathcare sector, indicating a strategic shift towards more profitable areas [1] Group 2 - The company emphasizes GARP (Growth at Reasonable Price) investment opportunities within the industrial, consumer, and technology sectors [1]

Group 1 - Hillenbrand, Inc. has declared a regular quarterly cash dividend of $0.225 per share on its common stock [1] - The dividend is scheduled to be payable on September 30, 2025, to shareholders of record as of September 15, 2025 [1] Group 2 - Hillenbrand is a global industrial company providing highly-engineered, mission-critical processing equipment and solutions in over 100 countries [2] - The company's portfolio includes leading industrial brands serving large end markets such as durable plastics, food, and recycling [2] - Hillenbrand is guided by its purpose to shape solutions that best serve its associates, customers, communities, and stakeholders [2]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point, as stocks may lose momentum when their valuations exceed future growth potential [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify such opportunities [3] Group 2: Company Analysis - Hillenbrand (HI) - Hillenbrand (HI) has shown significant price performance, with an 18.3% increase over the past four weeks and a 32.7% gain over the past 12 weeks, indicating strong investor interest [4][5] - The stock has a beta of 1.46, suggesting it moves 46% more than the market, reflecting its fast-paced momentum [5] - HI has a Momentum Score of A, indicating a favorable time to invest based on its momentum characteristics [6] - The stock has also received a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which typically attract more investors [7] - HI is currently trading at a Price-to-Sales ratio of 0.63, suggesting it is undervalued as investors pay only 63 cents for each dollar of sales [7] Group 3: Additional Investment Opportunities - Besides HI, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - The Zacks Premium Screens offer over 45 different strategies tailored to help investors find winning stock picks [9]

Hillenbrand Inc. is exploring strategic options, including a potential sale, people familiar with the matter said https://t.co/3cPIp0MJL5 ...

Financial Data and Key Metrics Changes - Revenue for the fiscal third quarter was $599 million, down 24% year-over-year, or 10% on a pro forma basis, primarily due to the divestiture of the MIME business and lower capital equipment volume in APS [14][15] - Pro forma adjusted EBITDA decreased 28% to $84 million, with an adjusted EBITDA margin of 14.1%, down 360 basis points, largely due to lower volume impacting operating leverage [15] - GAAP net income was $2 million, a significant improvement from a loss of $249 million in the prior year, attributed to a non-cash impairment charge recorded in the previous fiscal year [15] - Adjusted earnings per share decreased 40% to $0.51, in line with expectations, primarily due to the divestiture of the MIME business and lower APS volumes [15][16] Business Line Data and Key Metrics Changes - In the Advanced Process Solutions (APS) segment, revenue decreased 11% to $507 million, driven by lower volume, partially offset by favorable pricing [17] - The Molding Technology Solutions (MTS) segment saw pro forma revenue of $92 million, a decrease of 2% year-over-year, with growth in the hot runner business offset by a decline in mold-based sales [19] - Backlog for APS decreased 10% year-over-year to $1.57 billion, while MTS backlog increased 7% year-over-year to $55 million [18][19] Market Data and Key Metrics Changes - The food, health, and nutrition market now represents over 25% of global revenue, with significant progress in achieving $30 million in run-rate cost synergies from recent acquisitions [6][7] - Strong quoting and test facility activity were noted, indicating potential future order growth despite current delays in decision-making due to macroeconomic uncertainties [8][10] Company Strategy and Development Direction - The company is focused on simplifying its portfolio, reducing debt, and advancing integration and commercial synergies within its Food, Health, and Nutrition businesses [5] - Recent divestitures generated approximately $380 million in net proceeds, which were used to reduce debt by over $300 million, strengthening the balance sheet [5] - The company aims to leverage its global network and systems integration capabilities to enhance customer value across various end markets [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying markets served by the APS segment, anticipating a return to normalized order patterns as the macroeconomic environment stabilizes [10] - The company is optimistic about future order activity, citing recent key orders placed since the end of the third quarter as encouraging signs [19][22] - Management emphasized the importance of maintaining close relationships with customers to facilitate timely order decisions and project execution [31][32] Other Important Information - The company is actively engaged in a search for a permanent CFO, with the interim CFO bringing significant experience to the role [13] - The company has implemented surcharge pricing and adjusted contract terms to mitigate the impact of tariffs, while also localizing supply chains [12] Q&A Session Summary Question: Can you elaborate on the uptick in orders post-quarter? - Management noted that the uptick in orders is primarily from the plastics side, particularly in polyolefins and engineering plastics, with orders coming from various geographies including the U.S. and Asia [30][31] Question: What is the outlook for MTS demand and quoting activity? - Management indicated that quoting activity has improved, particularly in India and China, with new product launches driving demand [35][36] Question: How is the company addressing cash flow challenges? - Management highlighted that cash flow is expected to improve as new orders come in, with a focus on negotiating favorable contract terms to ensure progress payments [40][41] Question: Is there any discussion regarding the dividend given the current leverage? - Management stated that the dividend is regularly reviewed with the Board of Directors, but no specific announcements were made regarding changes at this time [53]

Third Quarter FY 2025 Earnings Call Presentation August 12, 2025 Hillenbrand Call Participants Trent Schwartz Executive Director, IR Kim Ryan President & CEO Megan Walke VP & Interim CFO Disclosure Regarding Forward-Looking Statements Throughout this earnings presentation, we make a number of "forward-looking statements," including statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private S ...

Core Viewpoint - Hillenbrand reported quarterly earnings of $0.51 per share, exceeding the Zacks Consensus Estimate of $0.50 per share, but down from $0.85 per share a year ago [1] Financial Performance - The earnings surprise for the quarter was +2.00%, with the company previously expected to post earnings of $0.54 per share but actually delivering $0.60, resulting in a surprise of +11.11% [2] - Hillenbrand's revenues for the quarter ended June 2025 were $598.9 million, surpassing the Zacks Consensus Estimate by 4.63%, compared to $786.6 million in revenues a year ago [3] - The company has consistently exceeded consensus revenue estimates over the last four quarters [3] Stock Performance - Hillenbrand shares have declined approximately 35.9% since the beginning of the year, while the S&P 500 has gained 8.6% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.49 on revenues of $558.9 million, and for the current fiscal year, it is $2.20 on revenues of $2.55 billion [8] - The outlook for the industry can significantly impact the stock's performance, with the Industrial Services sector currently ranking in the top 29% of over 250 Zacks industries [9]

PART I — FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) Unaudited consolidated financial statements for Q3 and YTD 2025/2024, including key statements and notes on Milacron and TerraSource divestitures [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) Net revenue decreased for both periods, with a nine-month net loss improving from prior year's impairment, and Q3 2025 showing net income Consolidated Statements of Operations Highlights (in millions) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net revenue** | $598.9 | $786.6 | $2,021.7 | $2,345.2 | | **Gross profit** | $202.6 | $266.4 | $674.0 | $768.1 | | **Impairment charges** | $0.0 | $265.0 | $0.0 | $265.0 | | **Loss on divestiture** | $1.5 | $0.0 | $56.1 | $0.0 | | **Net income (loss) attributable to Hillenbrand** | $1.9 | $(248.9) | $(32.6) | $(225.6) | | **Diluted EPS attributable to Hillenbrand** | $0.03 | $(3.53) | $(0.46) | $(3.20) | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to $4.68 billion from $5.24 billion, primarily due to Milacron divestiture impacts on goodwill, intangibles, and inventories Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2025 (unaudited) | September 30, 2024 | | :--- | :--- | :--- | | **Total current assets** | $1,286.3 | $1,509.9 | | **Goodwill** | $1,685.0 | $1,835.7 | | **Intangible assets, net** | $1,158.9 | $1,285.9 | | **Total Assets** | **$4,676.5** | **$5,238.7** | | **Total current liabilities** | $1,030.1 | $1,189.1 | | **Long-term debt** | $1,663.6 | $1,872.4 | | **Total Liabilities** | **$3,324.3** | **$3,781.3** | | **Total Shareholders' Equity** | $1,352.2 | $1,457.4 | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was $11.5 million, a decrease from prior year, with investing providing $84.4 million and financing using $107.0 million Cash Flow Summary (in millions) | Cash Flow Activity | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(11.5) | $24.8 | | Net cash provided by (used in) investing activities | $84.4 | $(40.2) | | Net cash (used in) provided by financing activities | $(107.0) | $13.4 | | **Net cash flows** | **$(37.9)** | **$(25.6)** | [Condensed Notes to Consolidated Financial Statements](index=9&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) Details accounting policies, revenue recognition, and key corporate actions, including Milacron divestiture loss, segment performance, and TerraSource divestiture - On March 31, 2025, the company divested its majority interest in the Milacron injection molding and extrusion business to an affiliate of Bain Capital, retaining a **48.74% minority ownership**. This resulted in a pre-tax loss of **$56.1 million** for the nine months ended June 30, 2025[30](index=30&type=chunk)[33](index=33&type=chunk) - As of June 30, 2025, the company's backlog was **$1,624.2 million**. Approximately **75%** of this is expected to be recognized as revenue over the next twelve months[28](index=28&type=chunk) - Subsequent to the quarter end, on July 1, 2025, the company completed the divestiture of its joint-venture TerraSource to Astec Industries for **$245.0 million**, expecting to record a pre-tax gain of approximately **$66.0 million**[99](index=99&type=chunk) - In the prior year (Q3 2024), the company recorded significant impairment charges of **$265.0 million**, consisting of a **$238.0 million** goodwill impairment and a **$27.0 million** trade name impairment within the Molding Technology Solutions segment[48](index=48&type=chunk)[49](index=49&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses operational and financial results, highlighting Q3 and YTD revenue decreases due to Milacron divestiture and lower volumes, alongside liquidity and financing [Operations Review — Consolidated](index=33&type=section&id=Operations%20Review%20%E2%80%94%20Consolidated) Consolidated net revenue decreased 24% for Q3 and 14% for nine months, driven by Milacron divestiture and lower APS volume, with stable gross margin Revenue and Gross Profit Comparison (in millions) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | **Net Revenue** | $598.9 | $786.6 | (24%) | | **Gross Profit** | $202.6 | $266.4 | (24%) | | **Gross Profit Margin** | 33.8% | 33.9% | -10 bps | - The effective tax rate for Q3 2025 was **61.3%**, a significant increase from **4.1%** in Q3 2024, driven by an unfavorable geographic mix of earnings and an increase in unrecognized tax benefits[127](index=127&type=chunk) [Operations Review — Advanced Process Solutions](index=37&type=section&id=Operations%20Review%20%E2%80%94%20Advanced%20Process%20Solutions) APS segment net revenue decreased 11% to $507.0 million due to lower volume, with gross margin contracting 290 bps and backlog decreasing 10% - Q3 Net Revenue decreased **11%** YoY to **$507.0 million**, primarily from lower volume[139](index=139&type=chunk) - Order backlog stood at **$1,569.6 million** at June 30, 2025, a **10%** decrease from the prior year, mainly due to a decrease in capital equipment orders[140](index=140&type=chunk) - Q3 Gross profit margin fell **290 basis points** to **33.1%**, impacted by cost inflation and unfavorable product mix[141](index=141&type=chunk) [Operations Review — Molding Technology Solutions](index=38&type=section&id=Operations%20Review%20%E2%80%94%20Molding%20Technology%20Solutions) MTS segment net revenue sharply declined 58% to $91.9 million due to Milacron divestiture, yet gross margin improved 980 bps, and backlog fell 77% - Q3 Net Revenue decreased **58%** YoY to **$91.9 million**, primarily due to the Milacron divestiture[152](index=152&type=chunk) - Order backlog decreased **77%** YoY to **$54.6 million**, also due to the Milacron divestiture[152](index=152&type=chunk) - Q3 Gross profit margin improved significantly by **980 basis points** to **38.0%**, driven by productivity improvements and restructuring actions[153](index=153&type=chunk) [NON-GAAP OPERATING PERFORMANCE MEASURES](index=40&type=section&id=NON-GAAP%20OPERATING%20PERFORMANCE%20MEASURES) Consolidated adjusted EBITDA from continuing operations decreased 36% to $84.3 million for Q3 2025, driven by lower APS volume and cost inflation Reconciliation of Net Income (Loss) to Adjusted EBITDA (in millions) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Consolidated net income (loss)** | $4.1 | $(246.9) | $(25.6) | $(219.1) | | Interest, Taxes, D&A | $60.5 | $60.4 | $181.5 | $215.3 | | Impairment charges | $0.0 | $265.0 | $0.0 | $265.0 | | Loss on divestiture | $1.5 | $0.0 | $56.1 | $0.0 | | Other adjustments | $18.2 | $25.6 | $68.1 | $70.1 | | **Adjusted EBITDA from continuing operations** | **$84.3** | **$131.0** | **$280.1** | **$367.8** | [LIQUIDITY AND CAPITAL RESOURCES](index=41&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company maintains sufficient liquidity, with $348.9 million available under its revolving credit facility and subsequent refinancing actions, including debt repayment - Subsequent to quarter-end, the company entered into a new Fifth Amended and Restated Credit Agreement, providing a **$700 million** revolving credit facility and two term loans (**$175M** and up to **€240M**)[180](index=180&type=chunk)[182](index=182&type=chunk) - Effective July 21, 2025, the company repaid its **$375 million** senior unsecured notes due 2026 using proceeds from the TerraSource divestiture and new Euro Term Loans[184](index=184&type=chunk) - The company had approximately **$125.0 million** remaining for share repurchases under its existing authorization as of June 30, 2025[189](index=189&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk disclosures have occurred since the 2024 Form 10-K filing - There have been no material changes in quantitative and qualitative disclosures about market risk since the filing of the 2024 Form 10-K[203](index=203&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting identified - The Certifying Officers concluded that the company's disclosure controls and procedures were effective as of the end of the period[204](index=204&type=chunk) - No changes in internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, internal controls were identified during the quarter[206](index=206&type=chunk) PART II — OTHER INFORMATION [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding legal proceedings is referenced in Note 14 to the Consolidated Financial Statements - Information regarding legal proceedings is located in Note 14 to the Consolidated Financial Statements[207](index=207&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) Updates risk factors, highlighting potential negative impacts from U.S. global trade policy uncertainty and proposed tariffs on operations - A key risk factor is the uncertainty in U.S. global trade policy, including recently announced or proposed tariffs on imports from various countries, which could increase costs and negatively impact operations[209](index=209&type=chunk)[210](index=210&type=chunk) [Item 5. Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q3 2025 - No director or officer adopted or terminated a Rule 10b5-1 trading plan during the third quarter of fiscal 2025[213](index=213&type=chunk) [Item 6. Exhibits](index=48&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with Form 10-Q, including credit agreements, compensatory plan forms, and officer certifications