Hillenbrand touts strong balance sheet despite uncertain environment

By Devika Patel

Knoxville, Tenn., May 10 – Hillenbrand, Inc. has high liquidity and no near-term debt maturities, lending strength to the company’s balance sheet as it grapples with uncertain economic and operating environments.

As of March 31, the Batesville, Inc.-based diversified industrial company had no near-term debt maturities and its net debt to adjusted EBITDA ratio was 1.4x.

Liquidity at the end of the quarter was approximately $1.3 billion, including $444.8 million of cash and cash equivalents and the remainder available under Hillenbrand’s revolving credit facility, which had no outstanding borrowings as of March 31.

“Given the strength of our balance sheet, I am confident in our ability to manage through the uncertain operating environment and continue to drive profitable growth strategy to deliver long-term shareholder value,” senior vice president and chief financial officer Robert VanHimbergen said on the company’s second quarter ended March 31 earnings conference call on Tuesday.

Long-term debt was $1,214,000,000 as of March 31, 2022, compared to $1,212,900,000 as of Sept. 30, 2021.

Net debt was $769 million at the end of the quarter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.