Hillenbrand(US:HI)2021-02-04 18:09Financial Performance Highlights - Hillenbrand's Q1 2021 pro forma revenue increased by 6% to $685 million compared to Q1 2020[11] - Adjusted EBITDA increased by 50% to $138 million, with a margin of 19.9%, up 370 bps[12] - Pro forma adjusted EBITDA increased 51% to $137 million, with a margin of 20.0%, up 600 bps[12] - Batesville's revenue increased 30% to $165 million, with adjusted EBITDA margin improving by 1,360 bps to 31.7%[14, 15] - Molding Technology Solutions' pro forma revenue increased 7% to $237 million, with adjusted EBITDA margin increasing 560 bps to 20.4%[20, 21] Strategic Actions and Portfolio Management - Hillenbrand announced the sale of Red Valve and an agreement to sell ABEL, expecting approximately $163 million in total proceeds[8] - The company paid down $157 million in debt during the quarter, reducing the net leverage ratio to 2.2x[8] Backlog and Future Outlook - Record backlog of $1.36 billion, up 32% year-over-year on a pro forma basis[8, 12] - Q2 2021 revenue is projected to be between $695 million and $720 million, representing a 12% increase[28] - Full-year industrial segment outlook anticipates low single-digit revenue growth for Advanced Process Solutions and mid-teens growth for Molding Technology Solutions[28] Capital Allocation - The company is lifting the temporary suspension of the share repurchase program[27, 31] - Hillenbrand is resuming consideration of strategic bolt-on acquisitions[27]