Hillenbrand (HI) reported fiscal Q1 adjusted diluted earnings late Wednesday of $0.56 per share, down from $0.69 a year earlier.

Analysts polled by FactSet expected $0.54.

Net revenue for the quarter ended Dec. 31 was $706.9 million, down from $773.3 million a year earlier.

Analysts surveyed by FactSet expected $695.4 million.

Meanwhile, the company said it agreed to sell a 51% stake in its Milacron injection molding and extrusion business for $287 million to an affiliate of Bain Capital.

Net proceeds after tax are expected to be about $250 million and will be used for debt paydown. The deal is expected to close at the end of Hillenbrand's fiscal Q2 or beginning of fiscal Q3, the company said.

Hillenbrand updated its fiscal 2025 outlook to account for the sale. It now expects fiscal 2025 adjusted earnings of $2.45 to $2.80 per share on revenue of $2.63 billion to $2.79 billion. The company's previous guidance was $2.80 to $3.15 per share on revenue of $2.93 billion to $3.09 billion.

Analysts polled by FactSet expect adjusted earnings of $2.95 per share on revenue of $3.01 billion.

Hillenbrand also issued its fiscal Q2 adjusted earnings guidance of $0.53 to $0.58 per share on revenue of $685 million to $705 million. Analysts surveyed by FactSet expect $0.64 and $730.8 million, respectively.