hi-20251231

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ Quarterly Report Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

For the quarterly period ended December 31, 2025

☐ Transition Report Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

For the transition period from _____ to _____

Commission File Number. 001-33794

HILLENBRAND, INC.

(Exact name of registrant as specified in its charter)


Indiana		26-1342272
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

One Batesville Boulevard
Batesville,	IN	47006
(Address of principal executive offices)		(Zip Code)

(812) 931-5000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, without par value

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Emerging growth company

☐

Non-accelerated filer

☐

Smaller reporting company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The registrant had 70,656,607 shares of common stock, no par value per share, outstanding as of February 4, 2026.

Table of Contents

HILLENBRAND, INC.

INDEX TO FORM 10-Q


		Page
	PART I — FINANCIAL INFORMATION

Item 1.	Financial Statements (Unaudited)

	Consolidated Statements of Operations for the Three Months Ended December 31, 202 5 and 20 24	2

	Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended December 31, 202 5 and 202 4	3

	Consolidated Balance Sheets at December 31, 202 5 and September 30, 2025	4

	Consolidated Statements of Cash Flows for the Three Months Ended December 31, 202 5 and 202 4	5

	Consolidated Statements of Shareholders’ Equity for the Three Months Ended December 31, 202 5 and 202 4	6

	Condensed Notes to Consolidated Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	27

Item 4.	Controls and Procedures	27

	PART II — OTHER INFORMATION

Item 1.	Legal Proceedings	28

Item 1A.	Risk Factors	28





Item 5.	Other Information	28

Item 6.	Exhibits	28

SIGNATURES

Table of Contents

PART I — FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

Hillenbrand, Inc.

Consolidated Statements of Operations (Unaudited)

(in millions, except per share data)


	Three Months Ended December 31,
		2025		2024
Net revenue		$	550.2	$	706.9
Cost of goods sold		366.5		471.9
Gross profit		183.7		235.0
Selling, general, and administrative expenses		149.2		171.1
Amortization expense		22.8		25.2


Loss on divestiture		3.4		—
Pension settlement gain		—		(1.7)
Interest expense, net		20.2		25.1

(Loss) income before income taxes		(11.9)		15.3
Income tax (benefit) expense		(12.9)		6.4


Consolidated net income		1.0		8.9
Less: Net income attributable to noncontrolling interests		3.2		2.5
Net (loss) income attributable to Hillenbrand		$	(2.2)	$	6.4

(Loss) earnings per share
Basic (loss) earnings per share		$	(0.03)

SEC Form 10-Q filed by Hillenbrand Inc