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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.
Hawkins, Inc. (Nasdaq: HWKN) has been certified as a Great Place to Work for the third consecutive year, reflecting its commitment to employee satisfaction. This certification, awarded by Great Place to Work, considers over 60 elements of job experience. CEO Patrick Hawkins emphasized the company’s dedication to its employees, noting that 87% believe customers would rate their service as 'excellent,' and 85% feel welcomed upon joining. This recognition is aligned with research indicating that certified workplaces see higher employee morale and retention. Hawkins, founded in 1938, generated $775 million in revenue in fiscal 2022.
Hawkins, Inc. (Nasdaq: HWKN) reported strong Q3 results for fiscal 2023, with sales reaching $219.2 million, a 17% year-over-year increase, driven by a 38% rise in the Water Treatment segment. Gross profit rose 7% to $36.3 million, supporting an operating income of $15.3 million, also up 7%. The diluted EPS increased 6% to $0.51, contributing to a year-to-date EPS of $2.31, a 19% increase. Adjusted EBITDA grew 10% to $23.8 million. Despite rising material costs impacting profits, Hawkins remains optimistic about cash flow and debt reduction plans. Their trailing twelve-month revenue now stands at $930 million.
On February 1, 2023, Hawkins, Inc. (Nasdaq: HWKN) announced a 7% increase in its quarterly cash dividend, raising it to $0.15 per share. This dividend will be payable on March 3, 2023, to shareholders on record as of February 17, 2023. Hawkins has a strong history of consistent dividend payments since 1985.
Hawkins, Inc., founded in 1938, is a leading specialty chemical and ingredients company, generating $775 million in revenue in fiscal 2022. The company operates 51 facilities across 25 states and employs approximately 800 individuals.
Hawkins, Inc. (Nasdaq: HWKN) announced it will release its fiscal 2023 third-quarter financial results on February 1, 2023, after the market closes. The announcement highlights the company's ongoing operations in specialty chemicals and ingredients across various sectors, including Industrial, Water Treatment, and Health & Nutrition. In fiscal 2022, Hawkins generated $775 million in revenue and operates 51 facilities across 25 states, employing approximately 800 people. The forthcoming earnings report is anticipated to provide insight into the company's financial performance and future outlook.
Hawkins, Inc. (HWKN) reported outstanding second-quarter results for fiscal 2023, achieving record metrics across sales, gross profit, operating income, and EPS. Sales reached $241.2 million, marking a 32% year-over-year increase, while gross profit rose 24% to $46.4 million. Operating income grew by 35% to $26.5 million, and EPS increased by 28% to $0.86. Adjusted EBITDA hit $34.0 million, up 28%. However, rising material costs led to a $5.3 million LIFO charge. Despite a strong performance across sectors, the company anticipates flat EPS in Q3 due to additional cost pressures and supply chain challenges.
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