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Hawkins Inc. (HWKN) is a prominent specialty chemical and ingredients company headquartered in Roseville, Minnesota. Established in 1938, the company has evolved into a significant player in the chemical industry, serving diverse sectors through its three primary segments: Industrial, Water Treatment, and Health & Nutrition. Hawkins Inc. formulates, manufactures, blends, and distributes thousands of chemical products that cater to municipalities and businesses across the central United States.
Core Business Operations:
- Industrial Segment: The largest revenue generator, this segment offers a range of chemicals including private label bleach, caustic soda, sulfuric acid, hydrochloric acid, phosphoric acid, potassium hydroxide, and aqua ammonia. These products are vital for various industrial processes and applications.
- Water Treatment Segment: Specializes in providing chemicals and equipment for potable water treatment, municipal and industrial wastewater treatment, and non-residential swimming pool water treatment. Recent acquisitions such as Water Solutions Unlimited and Miami Products have expanded this segment's footprint and capabilities, contributing to its strong revenue and profit growth.
- Health & Nutrition Segment: Supplies ingredients to producers of food, beverages, personal care items, and dietary supplements. This segment has shown resilience and signs of improvement, despite facing challenges related to customer demand and inventory levels.
Recent Achievements and Financial Performance:
Hawkins Inc. reported robust financial performance in recent quarters, marked by significant growth in its Water Treatment segment and steady improvements in other areas. The company's strategy to increase its Water Treatment footprint through acquisitions has proven successful, with completed deals bolstering revenue and operational capacity. The latest acquisition of Intercoastal Trading further enhances Hawkins' capabilities in the highly populated East Coast region.
For the third quarter of fiscal 2024, Hawkins Inc. recorded net income of $14.9 million or $0.71 per diluted share, reflecting a 39% increase from the previous year. Sales for the quarter were $208.5 million, with notable growth in the Water Treatment segment. The company's effective tax rate and disciplined inventory management contributed to a strong balance sheet and reduced leverage ratio.
The company continues to prioritize customer service, quality products, and responsible environmental management. Hawkins Inc. employs approximately 950 people across 60 facilities in 27 states, generating $919 million in revenue for fiscal 2024.
Hawkins Inc. remains committed to exceeding customer expectations and adapting swiftly to changing needs through technical expertise and teamwork. Investors can look forward to continued growth and profitability driven by strategic acquisitions and efficient operations.
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