Hillenbrand, Inc. (NYSE: HI) announced today that it has reached a definitive agreement to sell its Cimcool business to DuBois Chemicals, Inc. (DuBois). The sale follows Hillenbrand's previously announced strategic review of alternatives for this business, which was part of the 2019 acquisition of Milacron Holdings Corp.

The coronavirus has become bad business for U.S. funeral homes, even as fears grow of a wave of deaths. Like companies across the United States, funeral homes and mortuaries are limiting contact with customers in order to avoid spreading the highly contagious respiratory illness, in some cases livestreaming memorial services to extended family and friends. The state of Washington, the early epicenter of the U.S. outbreak, has outright banned funerals, and the pandemic appears to be leading to lost sales of funeral homes' most profitable services, such as elaborate memorials and luxurious coffins.

Hillenbrand, Inc. (NYSE: HI) will hold a conference call and simultaneous webcast Thursday, May 7, 2020, at 8:00 a.m. ET. They will discuss the results for the second quarter of fiscal year 2020, which ended March 31, 2020. The live webcast, including a slide presentation, will be available at http://ir.hillenbrand.com under the "Events & Presentations" tab and will be archived on the company's investor relations website through Friday, June 5, 2020.

Moody's Investors Service (Moody's) placed Hillenbrand, Inc.'s (Hillenbrand) Baa3 senior unsecured rating under review for downgrade. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets.

The pandemic threatens to exacerbate a trend: More families are forgoing traditional funerals in favor of cremations, and they’re picking less-expensive options when they do opt for a burial.

Hillenbrand Inc.'s credit rating was cut Monday into "junk" territory at Fitch Ratings, citing expectations that the pace of the company's deleveraging following the acquisition of Milacron will slow because of the coronavirus-related economic slowdown. Fitch downgraded the maker of engineered industrial equipment's issuer default rating (IDR) to BB+ from BBB-, which was the lowest investment grade rating. The Milacron deal, which closed in November, was valued at $1.9 billion including debt. Fitch said the rating has a negative outlook, to reflect heightened COVID-19-related risk levels, potential challenges in integrating Milacron and the risk of an extended downturn in plastic equipment markets. "The effect of coronavirus is expected to be felt in the final three quarters of fiscal 2020 (to end in September 2020), when sales and margins are expected to contract materially, followed by a sales and margin recovery beginning in fiscal 2021," Fitch said. Hillenbrand's stock, which surged 10.3% in afternoon trading, has tumbled 44.9% over the past three months, while the Dow Jones Industrial Average has dropped 22.3%.

HI earnings call for the period ending March 31, 2020.

Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

The board of directors of Hillenbrand, Inc. (NYSE: HI) has declared a regular quarterly cash dividend of $0.2125 per share on the company's common stock. The dividend is payable June 30, 2020, to shareholders of record at the close of business on June 16, 2020.

Hillenbrand, Inc. (NYSE: HI) announced today that its wholly-owned subsidiary Milacron LLC has completed the sale of its Cimcool business to DuBois Chemicals, Inc. All conditions were met, including the employee consultations required by Dutch law, allowing for the transaction to be completed in a single closing and resulting in cash proceeds to Hillenbrand of approximately $224 million.

The firm, which employs about 6,500 people, also implemented a hiring freeze because of the coronavirus pandemic.

If you're interested in Hillenbrand, Inc. (NYSE:HI), then you might want to consider its beta (a measure of share...

Hillenbrand Inc. has agreed to sell its Cimcool business to DuBois Chemicals Inc. for $224 million in cash, but the deal could ultimately be worth up to $250 million. Cimcool, which specializes in fluids for machining, grinding, metal forming, parts cleaning, and specialty applications, became part of Hillenbrand (NYSE: HI) through the Batesville, Ind.-based firm’s $1.9 billion acquisition of Milacron Holdings Corp. in November. Hillenbrand, which is one of the largest public companies in Greater Cincinnati, said at the time it would explore selling Cimcool.

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Q2 2020 Hillenbrand Inc Earnings Call

Revenue of $649 million was 40% higher year over year given the addition of Milacron; organic revenue decreased 3%

Hillenbrand, Inc. (NYSE: HI) today provided the following update regarding its actions to address the impact of the COVID-19 pandemic on the company's business.

To the annoyance of some shareholders, Hillenbrand (NYSE:HI) shares are down a considerable 32% in the last month...

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Hillenbrand...

Q1 2020 Hillenbrand Inc Earnings Call