[Fiscal Third Quarter 2025 Performance Overview](index=1&type=section&id=Fiscal%20Third%20Quarter%202025%20Performance%20Overview) Hillenbrand's Q3 2025 results show revenue declines from divestitures, improved GAAP net income, and strategic debt reduction and synergy realization [Executive Summary & Key Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Key%20Highlights) Hillenbrand's Q3 2025 results exceeded revenue expectations, met adjusted EPS, driven by strategic divestitures and synergy achievements - Strategic portfolio refinement and debt reduction were key activities, with over **$300 million** in debt paid down during the fiscal year from the MIME divestiture and the sale of a minority interest in TerraSource[3](index=3&type=chunk) - Achieved **$30 million** in run-rate cost synergies from the Linxis and FPM acquisitions earlier than planned, and is beginning to see commercial synergy potential[3](index=3&type=chunk)[5](index=5&type=chunk) - Q3 revenue exceeded expectations and adjusted EPS met expectations, despite customer delays due to the dynamic tariff landscape[4](index=4&type=chunk) Q3 2025 Key Financial Metrics (in millions, except EPS) | Metric | Value | Change vs. Prior Year | | :--- | :--- | :--- | | Revenue | $599 million | -24% | | Pro Forma Revenue | $599 million | -10% | | GAAP EPS | $0.03 | Increased from $(3.53) | | Adjusted EPS | $0.51 | -40% | [Consolidated Financial Results (Q3 2025)](index=2&type=section&id=Consolidated%20Financial%20Results%20%28Q3%202025%29) Hillenbrand's Q3 2025 net revenue decreased **24%** to **$599 million** due to divestitures, while GAAP net income improved and adjusted EPS fell **40%** Q3 2025 Consolidated Financial Summary (in millions, except EPS) | Metric | Q3 2025 | Q3 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net Revenue | $598.9 | $786.6 | (24)% | | GAAP Net Income | $1.9 | $(248.9) | 101% | | Adjusted EBITDA | $84.3 | $131.0 | (36)% | | GAAP Diluted EPS | $0.03 | $(3.53) | 101% | | Adjusted Diluted EPS | $0.51 | $0.85 | (40)% | | Pro Forma Net Revenue | $598.9 | $663.0 | (10)% | | Pro Forma Adjusted EBITDA | $84.3 | $116.6 | (28)% | - The significant increase in GAAP net income was primarily due to a non-cash impairment charge related to the hot runner product line within the MTS segment recorded in the prior fiscal year[7](index=7&type=chunk) - The decrease in adjusted EPS was mainly attributed to the divestiture of the MIME business and lower sales volume[8](index=8&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) Both APS and MTS segments experienced Q3 revenue declines, with APS down **11%** and MTS down **58%** (or **2%** pro forma) [Advanced Process Solutions (APS)](index=2&type=section&id=Advanced%20Process%20Solutions%20%28APS%29) APS segment revenue decreased **11%** to **$507 million** due to lower capital equipment volume, with adjusted EBITDA falling **27%** APS Q3 2025 Performance (in millions) | Metric | Q3 2025 | Q3 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net Revenue | $507.0 | $569.4 | (11)% | | Adjusted EBITDA | $80.1 | $109.2 | (27)% | | Adjusted EBITDA Margin | 15.8% | 19.2% | (340) bps | - The decline in revenue was primarily due to lower capital equipment volume, which was partially offset by favorable pricing[10](index=10&type=chunk) - Backlog stood at **$1.57 billion**, a **10%** decrease compared to the prior year and a **2%** sequential decrease[12](index=12&type=chunk) [Molding Technology Solutions (MTS)](index=3&type=section&id=Molding%20Technology%20Solutions%20%28MTS%29) MTS segment revenue decreased **58%** to **$92 million** due to MIME divestiture, or **2%** pro forma, with margins contracting **170 basis points** MTS Q3 2025 Performance (in millions) | Metric | Q3 2025 | Q3 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net Revenue | $91.9 | $217.2 | (58)% | | Pro Forma Net Revenue | $91.9 | $93.6 | (2)% | | Adjusted EBITDA | $18.3 | $34.6 | (47)% | | Pro Forma Adjusted EBITDA | $18.3 | $20.2 | (9)% | | Pro Forma Adj. EBITDA Margin | 19.9% | 21.6% | (170) bps | - The significant year-over-year revenue decline was primarily due to the MIME divestiture[13](index=13&type=chunk) - Pro forma backlog increased **7%** compared to the prior year, reaching **$55 million**[15](index=15&type=chunk) [Balance Sheet, Cash Flow and Capital Allocation](index=3&type=section&id=Balance%20Sheet%2C%20Cash%20Flow%20and%20Capital%20Allocation) Hillenbrand's Q3 saw a **$2 million** cash use from operations, with net debt at **$1.51 billion** (3.9x leverage), reduced by **$115 million** post-quarter - Cash flow from operations was a use of **$2 million** in the quarter, primarily due to lower customer advances from decreased order volume[16](index=16&type=chunk) - As of June 30, 2025, net debt was **$1.51 billion**, with a net debt to pro forma adjusted EBITDA ratio of **3.9x**[17](index=17&type=chunk) - On July 1, 2025, the company used **~$115 million** in proceeds from the TerraSource divestiture for debt pay down, resulting in an approximate **0.2x** favorable impact on net leverage[18](index=18&type=chunk) - The company redeemed its **$375 million** notes due in 2026 and amended its credit facilities to enhance operational and financial flexibility[19](index=19&type=chunk)[20](index=20&type=chunk) [Fiscal 2025 Outlook](index=4&type=section&id=Fiscal%202025%20Outlook) Hillenbrand updated its fiscal 2025 outlook, projecting total net revenue between **$2,595 million** and **$2,630 million**, maintaining adjusted EPS midpoint [Updated Guidance](index=4&type=section&id=Updated%20Guidance) Hillenbrand updated its fiscal 2025 outlook, projecting total net revenue between **$2,595 million** and **$2,630 million**, maintaining adjusted EPS midpoint - The company is updating its core outlook for fiscal 2025 but maintaining the mid-point of its full year adjusted EPS range[21](index=21&type=chunk) Fiscal 2025 Full Year Guidance (in millions, except EPS and percentages) | Metric | Total Hillenbrand | Advanced Process Solutions | Molding Technology Solutions | | :--- | :--- | :--- | :--- | | Net Revenue | $2,595 - $2,630 M | $2,005 - $2,030 M | $590 - $600 M | | YoY Revenue Change | (18%) - (17%) | (12%) - (11%) | (34%) - (33%) | | Adj. EBITDA | $370 - $385 M | 16.6% - 16.8% Margin | 16.0% - 16.7% Margin | | Adj. EPS | $2.20 - $2.35 | - | - | | YoY Adj. EPS Change | (34%) - (29%) | - | - | | Operating Cash Flow | ~$60 M | - | - | | CapEx | ~$40 M | - | - | [Financial Statements and Reconciliations](index=8&type=section&id=Financial%20Statements%20and%20Reconciliations) This section provides detailed unaudited consolidated financial statements, including statements of operations, cash flows, and reconciliations of GAAP to non-GAAP measures [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) Unaudited Consolidated Statements of Operations show Q3 2025 net income of **$1.9 million** (or **$0.03** per diluted share), a significant improvement from prior year's **$248.9 million** net loss Consolidated Statements of Operations Highlights (Three Months Ended June 30, in millions) | Line Item | 2025 | 2024 | | :--- | :--- | :--- | | Net revenue | $598.9 | $786.6 | | Gross profit | $202.6 | $266.4 | | Impairment charges | $— | $265.0 | | Income (loss) from continuing operations | $4.1 | $(246.9) | | Net income (loss) attributable to Hillenbrand | $1.9 | $(248.9) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended June 30, 2025, cash used in operating activities was **$11.5 million**, with investing activities providing **$84.4 million** and financing activities using **$107.0 million** Cash Flow Summary (Nine Months Ended June 30, in millions) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Operating activities | $(11.5) | $24.8 | | Investing activities | $84.4 | $(40.2) | | Financing activities | $(107.0) | $13.4 | | Net cash flows | $(37.9) | $(25.6) | | Cash at end of period | $190.0 | $224.6 | [Reconciliation of Non-GAAP Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section provides detailed reconciliations of GAAP to non-GAAP measures, adjusting Q3 2025 GAAP net income and EPS to their respective adjusted figures Q3 2025 GAAP to Adjusted EPS Reconciliation | Item | Per Share Amount | | :--- | :--- | | Diluted EPS from continuing operations | $0.03 | | Business acquisition, divestiture, and integration costs | $0.18 | | Restructuring and restructuring-related charges | $0.08 | | Intangible asset amortization | $0.32 | | Loss on divestiture | $0.02 | | Other adjustments (net) | $(0.12) | | **Adjusted Diluted EPS** | **$0.51** | Q3 2025 Consolidated Net Income to Adjusted EBITDA Reconciliation (in millions) | Item | Amount | | :--- | :--- | | Consolidated net income (loss) | $4.1 | | Interest expense, net | $21.3 | | Income tax expense (benefit) | $6.5 | | Depreciation and amortization | $32.7 | | **EBITDA** | **$64.6** | | Business acquisition, divestiture, and integration costs | $12.7 | | Restructuring and restructuring-related charges | $5.5 | | Loss on divestiture | $1.5 | | **Adjusted EBITDA** | **$84.3** | Net Debt to Pro Forma Adjusted EBITDA Ratio (as of June 30, 2025) | Metric | Amount (in millions) | | :--- | :--- | | Total debt | $1,676.2 | | Less: Cash and cash equivalents | $162.8 | | **Net debt** | **$1,513.4** | | Pro forma adjusted EBITDA (TTM) | $389.1 | | **Ratio of net debt to pro forma adjusted EBITDA** | **3.9x** | [Appendix](index=4&type=section&id=Appendix) The appendix provides details on the conference call, explanations of non-GAAP financial measures, forward-looking statements, and an overview of Hillenbrand's business [Conference Call Information](index=4&type=section&id=Conference%20Call%20Information) Hillenbrand will host a conference call and webcast on Tuesday, August 12, 2025, at **8:00 a.m. ET** to discuss fiscal Q3 2025 results - The conference call to discuss results is scheduled for Tuesday, August 12, 2025, at **8:00 a.m. ET**[23](index=23&type=chunk) [About Non-GAAP Financial Measures](index=5&type=section&id=About%20Non-GAAP%20Financial%20Measures) This section explains Hillenbrand's use of non-GAAP financial measures, clarifying their purpose for internal evaluation and investor comparison - Non-GAAP 'adjusted' measures generally exclude items such as business acquisition and divestiture costs, restructuring charges, intangible asset amortization, and other non-recurring costs[24](index=24&type=chunk)[27](index=27&type=chunk) - The company uses non-GAAP information internally to measure operating segment performance and believes it helps investors perform trend analysis by removing distortions from excluded items[25](index=25&type=chunk) - Backlog is defined as the amount of consolidated net revenue expected to be realized on awarded contracts, though it is not a term recognized under GAAP[31](index=31&type=chunk) [Forward-Looking Statements](index=14&type=section&id=Forward-Looking%20Statements) This section contains standard forward-looking statements, cautioning that future results may differ materially due to various risks and uncertainties - The document contains forward-looking statements that are subject to risks and uncertainties, and actual results could vary materially from expectations[43](index=43&type=chunk) - Key risk factors include global market conditions, trade policies, competition, supply chain disruptions, and risks related to acquisitions and divestitures[44](index=44&type=chunk) [About Hillenbrand](index=14&type=section&id=About%20Hillenbrand) Hillenbrand is a global industrial company providing highly-engineered processing equipment and solutions for end markets like durable plastics, food, and recycling - Hillenbrand is a global industrial company providing highly-engineered processing equipment and solutions to customers worldwide[47](index=47&type=chunk) - The company's portfolio serves end markets such as durable plastics, food, and recycling[47](index=47&type=chunk)

Core Viewpoint - Hillenbrand, Inc. reported a significant decline in net revenue for the fiscal third quarter of 2025, primarily due to the divestiture of the MIME business and lower capital equipment volume, while achieving improvements in net income and adjusted EPS compared to the previous year [1][4][5]. Financial Performance - Net revenue for the third quarter was $598.9 million, a decrease of 24% from $786.6 million in the prior year, mainly due to the MIME divestiture and lower capital equipment volume [4][6]. - GAAP net income attributable to Hillenbrand was $1.9 million, or $0.03 per share, compared to a loss of $(248.9) million, or $(3.53) per share, in the prior year, reflecting a significant recovery [5][6]. - Adjusted EBITDA was $84.3 million, down 36% from $131.0 million year-over-year, primarily due to lower volume and unfavorable product mix [4][6]. - Adjusted diluted EPS decreased by 40% to $0.51 from $0.85 in the previous year [4][6]. Strategic Initiatives - The company focused on refining its portfolio and reducing debt, successfully using proceeds from the MIME divestiture to pay down over $300 million in debt during the fiscal year [2][3]. - Hillenbrand achieved $30 million in run-rate cost synergies from recent acquisitions, indicating progress in integrating its Food, Health, and Nutrition (FHN) business [2][8]. Market Conditions - The company faced challenges as customers continued to delay purchasing decisions due to a dynamic tariff landscape, impacting revenue generation [3][8]. - Despite these challenges, Hillenbrand remains confident in its durable business segments and differentiated technologies to deliver solutions globally [3][8]. Outlook - Hillenbrand updated its fiscal 2025 outlook, maintaining the midpoint of its full-year adjusted EPS range based on year-to-date performance and expectations for the fourth quarter [18][20]. - The company anticipates total net revenue for fiscal 2025 to be between $2.595 billion and $2.630 billion, reflecting a year-over-year decline of 18% to 17% [20][21].

Company Information - Hillenbrand, Inc. (NYSE: HI) is a global industrial company providing highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries [4] - The company's portfolio includes leading industrial brands serving large end markets such as durable plastics, food, and recycling [4] - Hillenbrand is guided by its purpose to "Shape What Matters For Tomorrow," focusing on excellence, collaboration, and innovation [4] Upcoming Events - Hillenbrand will hold a conference call and webcast on August 12, 2025, at 8:00 a.m. ET to discuss the results for the third quarter of fiscal year 2025, which ended June 30, 2025 [1] - A press release reporting the results will be issued after the market closes on August 11, 2025, and will be available on the company's investor relations website [3] - The live webcast will be archived on the investor relations website until September 12, 2025 [1]

Core Viewpoint - Hillenbrand, Inc. has announced the full redemption of its $375 million, 4.500% notes due September 2026, alongside significant amendments to its credit agreements, aimed at optimizing its capital structure and enhancing operational and financial flexibility [1][2][3]. Group 1: Financial Actions - The company redeemed $375 million in notes with a 4.500% interest rate, maturing in September 2026 [1]. - An amendment and extension of the syndicated credit agreement was successfully completed, which includes a $700 million revolving credit facility, a $175 million term loan, and a Euro-denominated delayed-draw term loan of up to €240 million [2]. - The company also amended its €325 million L/G facility agreement, with Commerzbank acting as the lead arranger and agent [2]. Group 2: Strategic Implications - The redemption of the notes and the amendments to the credit agreements represent a strategic move to optimize the company's capital structure [3]. - These actions are expected to provide greater operational and financial flexibility for the company moving forward [3]. Group 3: Company Overview - Hillenbrand, Inc. is a global industrial company that specializes in providing highly-engineered, mission-critical processing equipment and solutions across various sectors, including durable plastics, food, and recycling [4]. - The company is guided by its purpose to shape solutions that serve its stakeholders effectively [4].

Group 1 - Highland Copper Company Inc. has approved the grant of 6,632,271 incentive stock options, 3,116,875 Restricted Share Units, and 1,973,684 Deferred Share Units to its directors, executive officers, and employees, subject to regulatory approval [1] - The stock options have an exercise price of CDN$0.095 per share and are exercisable for a period of up to five years, with vesting occurring in three phases [1] - The Restricted Share Units and Deferred Share Units will vest in three equal parts over three years [1] Group 2 - Highland Copper Company is focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. [2] - The company owns the Copperwood deposit through long-term mineral leases and holds a 34% interest in the White Pine North project via a joint venture [2] - Highland Copper has 736,363,619 common shares issued and outstanding, listed on the TSX Venture Exchange under the symbol "HI" and trading on the OTCQB under "HDRSF" [2]

Core Insights - Highland Copper Company is making significant progress on its 100%-owned Copperwood Project, moving towards a near-term construction decision [1] Funding and Support - The Copperwood project is under consideration for a $50 million grant from the Michigan Economic Development Corporation, pending final approval from the Senate Appropriations Committee [2] - Wakefield Township has requested a separate $50 million infrastructure grant from the Michigan legislature, demonstrating strong local support for the project [3] - The proposed grant aims to enhance economic development in Gogebic County by upgrading local infrastructure, which will also support the Copperwood project [4] - Local leaders, including Wakefield Township Supervisor Mandy Lake and Congressman Jack Bergman, emphasize the project's importance for domestic copper production and job creation [5] Engineering and Development - Highland has awarded Front-End Engineering and Design contracts to DRA Global for mine and process plant engineering, and to Foth and Tetra Tech for water management and tailings disposal facility engineering, respectively [6] - The company plans to transition into Phase 2 of its engineering program in Q3 2025, targeting 35% completion for mine and process plant engineering and 85% for the tailings disposal facility by Q1 2026 [7] - Successful completion of metallurgical drill programs has been reported, with 400 kilograms of core samples sent for analysis, achieving results comparable to previous tests [8] Environmental Mitigation - The 2025 construction season focuses on fulfilling obligations related to environmental mitigation, including the planting of nearly 20,000 trees [10] - An off-site stream mitigation project is underway to replace undersized culverts with a 50-foot-span bridge, enhancing fish habitat and meeting mitigation obligations [11] Strategic Outlook - The company is focused on key work programs to enable a construction decision for Copperwood in 2026, including site preparation, engineering progress, and funding opportunities [12]

Group 1 - Hillenbrand, Inc. has completed the divestiture of its minority stake in TerraSource Holdings to Astec Industries for approximately $245 million [1] - Hillenbrand received about $115 million from the transaction, which will be used to pay down debt [1] Group 2 - Hillenbrand is a global industrial company providing highly-engineered processing equipment and solutions [2] - The company's portfolio includes leading industrial brands serving markets such as durable plastics, food, and recycling [2] - Hillenbrand is guided by its purpose to shape solutions that serve its people, customers, and communities [2]

Group 1 - Highland Copper Company has engaged Velocity Trade Capital Ltd. to provide market making services to improve liquidity and reduce trading volatility of its shares [1][2] - The monthly fee for these market liquidity services is set at $6,000, with a termination clause allowing either party to end the contract with 30 days' notice after 60 days [2] - Velocity Trade is a registered independent investment dealer in Canada and is regulated by multiple international authorities, ensuring compliance and credibility [3][4] Group 2 - Highland Copper Company focuses on exploring and developing copper projects in Michigan, owning the Copperwood deposit and a 34% stake in the White Pine North project [5] - The company has 736,363,619 common shares issued and outstanding, listed on the TSX Venture Exchange under the symbol "HI" and on the OTCQB under "HDRSF" [5]

Core Points - Hillenbrand, Inc. announced the departure of CFO Robert "Bob" VanHimbergen, effective June 27, 2025, to pursue another position outside the company [1][2] - Megan Walke, currently Vice President and Corporate Controller, will serve as Interim CFO following VanHimbergen's departure [2] - The company has engaged an executive search firm to find a permanent CFO [2] - CEO Kim Ryan acknowledged VanHimbergen's contributions in transforming Hillenbrand into a pure-play industrial company and emphasized the company's strong positioning for future strategies [3] Company Overview - Hillenbrand is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions [8] - The company's portfolio includes leading industrial brands serving large markets such as durable plastics, food, and recycling [8] - Hillenbrand is guided by its purpose to shape solutions that best serve its people, customers, and communities [8]

VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) ("Highland" or the "Company") is pleased to provide an update on recent developments at its 100%-owned Copperwood Project ("Copperwood") and the White Pine North Project ("White Pine"), a joint venture with Kinterra Copper USA LLC ("Kinterra"). Highland continues to advance Copperwood toward a near-term construction decision through a phased approach to detailed engineering which is designed t ...