Welcome to our dedicated page for Hawkins news (Ticker: HWKN), a resource for investors and traders seeking the latest updates and insights on Hawkins stock.
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, a leading specialty chemical company, will participate in the 2021 Virtual Wells Fargo Industrials Conference on May 5 and 6. The event includes 30-minute fireside chats, topical panels, and opportunities for one-on-one meetings with the company's management. Over 50 companies will be represented, covering various industries like machinery, aerospace, and chemicals. Hawkins generated $540 million in revenue in fiscal 2020 and operates 47 facilities across 22 states.
Hawkins Inc. (Nasdaq: HWKN) has expanded its Water Treatment Group into South Carolina, leasing a new facility in Greenville, expected to commence operations next month. This addition raises the total to 33 Water Treatment branches across 20 states. CEO Patrick H. Hawkins reported a 35% increase in earnings per share over the first three quarters of the fiscal year, attributable to an aggressive expansion strategy, including two recent acquisitions and two new locations. In fiscal 2020, the company generated $540 million in revenue.
On February 17, 2021, the St. Paul City Council recognized Hawkins as one of America’s most responsible companies. The council commended the company for its commitment to environmental sustainability, energy efficiency, and equitable treatment of employees. CEO Patrick H. Hawkins highlighted the firm’s long-standing presence in St. Paul since 1938 and its operational efficiency utilizing the Mississippi River for transportation. Hawkins, Inc., a leading specialty chemical company, reported $540 million in revenue for fiscal 2020 and employs around 700 people across 46 facilities nationwide.
The Board of Directors of Hawkins (Nasdaq: HWKN) declared a quarterly cash dividend of $0.2450 per share, payable on February 26, 2021, to shareholders on record by February 12, 2021. This reflects Hawkins' continuous commitment to dividends since 1985. Additionally, a two-for-one stock split was approved, effective on March 1, 2021, with a record date of February 19, 2021, increasing outstanding shares from 10.6 million to 21.2 million. CEO Patrick H. Hawkins expressed confidence in the company's growth prospects.
Hawkins, Inc. (HWKN) reported record third-quarter sales of $142.9 million, a 19% increase year-over-year, driven by a 75% surge in its Health and Nutrition segment. Gross profit rose 31% to $28.2 million, leading to a 55% increase in operating income. Diluted EPS reached $0.75, up 74% from the previous year, with year-to-date EPS at $3.00, a 35% rise. The company has a net debt of $88 million and reinitiated stock repurchases. Strategic acquisitions in the Water Treatment segment aim to expand operations.
Hawkins, Inc. (Nasdaq: HWKN) will report its third-quarter financial results for the period ending December 27, 2020, on January 28, 2021, after market close at approximately 4:00 p.m. Eastern Time. The company specializes in distributing, blending, and manufacturing specialty chemicals across various sectors, generating $540 million in revenue in fiscal 2020. Hawkins operates 46 facilities across 21 states, emphasizing exceptional customer service and quality products.
Hawkins, Inc. (Nasdaq: HWKN) announced the acquisition of assets from C & L Aqua Professionals, Inc. and LC Blending, Inc. to enhance its Water Treatment Group's reach into Louisiana. This strategic move aims to bolster geographic presence and leverage Hawkins' broader product offerings for existing customers. CEO Patrick H. Hawkins expressed excitement about the cultural fit and service focus of the acquired companies. Steve Belshe, the President of C & L Aqua, will remain involved, indicating continuity in operations and customer relations.
Hawkins, Inc. (HWKN) announced the retirement of John S. McKeon from its Board of Directors, effective December 31, 2020. McKeon, a board member since 1984 and Chair since 2005, has significantly contributed to the company’s growth. CEO Patrick H. Hawkins acknowledged McKeon’s dedicated service, highlighting the company's solid position for continued growth. Following McKeon's departure, James T. Thompson, currently the Vice Chair, will take over as Chair. Hawkins, Inc. is known for distributing and manufacturing chemicals across various industries with 44 facilities in 20 states.
The Board of Directors of Hawkins, Inc. (Nasdaq: HWKN) declared a quarterly cash dividend of $0.2325 per share, payable on November 20, 2020, to shareholders of record as of November 6, 2020. Hawkins has a strong track record of dividend payments, having consistently distributed dividends since 1985. The company, headquartered in Roseville, Minnesota, specializes in distributing, blending, and manufacturing chemicals across various industries, operating 44 facilities in 20 states.
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