Hawkins, Inc. Reports Fourth Quarter and Fiscal Year 2025 Results

Rhea-AI Summary

Hawkins Inc (NASDAQ: HWKN) reported strong Q4 and FY2025 results with record-breaking performance across key metrics. Q4 sales reached $245.3M (up 10% YoY), with Water Treatment segment leading at 21% growth. The company achieved Q4 EPS of $0.78 (up 18% YoY) and record annual sales of $974.4M (up 6% YoY). Full-year diluted EPS hit $4.03, marking a 12% increase. The Water Treatment segment, now the company's largest, grew 23% YoY through acquisitions and organic growth. Hawkins completed four acquisitions during FY2025 and acquired WaterSurplus post-fiscal year. The company maintains a strong financial position with net debt of $143.9M and a leverage ratio of 0.86x adjusted EBITDA. Management expects FY2026 revenue to exceed $1B for the first time in company history, though EPS growth may slow due to higher interest and amortization expenses.

Positive

• Record Q4 sales of $245.3M, up 10% YoY
• Water Treatment segment sales grew 23% YoY to $446.5M
• Full-year EPS increased 12% to $4.03
• Strong operating cash flow of $111.1M
• Completed 4 strategic acquisitions in Water Treatment segment
• 40th consecutive year of paying dividends
• Low leverage ratio of 0.86x adjusted EBITDA
• Expected to surpass $1B in revenue for FY2026

Negative

• Industrial and Health/Nutrition segments showed sales decline for the full year
• Expected slower EPS growth in FY2026 due to higher interest and amortization expenses
• Increased debt levels post-year end with WaterSurplus acquisition
• SG&A expenses increased 19% to $106.4M

Insights

Financial Analyst

Hawkins reports exceptional FY2025 with record revenue, profits, and 12% EPS growth; Water Treatment segment leads growth strategy.

Hawkins delivered outstanding financial performance across the board in FY2025, achieving record results in all key metrics. Revenue increased 6% to $974.4 million, with operating income jumping 15% to $119.2 million. The company posted diluted EPS of $4.03, marking a 12% increase over FY2024 and their seventh consecutive year of EPS growth.

The transformation of Hawkins' business mix represents a strategic evolution worth highlighting. The Water Treatment segment has emerged as their largest business unit, growing 23% to $446.5 million in sales. This segment now represents nearly 46% of total revenue, up from 40% last year. Their acquisition strategy is clearly accelerating this transition, with four acquisitions completed during FY2025 (and WaterSurplus added post-year-end). Of the $83.2 million Water Treatment segment growth, $72 million came from acquisitions.

Profitability improvements are particularly impressive. Gross profit margin expanded to 23% from 21% in the prior year. The Water Treatment segment delivered the highest margin profile at 27%, while Health and Nutrition improved to 22% (from 19%). This margin expansion contributed to the 17% increase in adjusted EBITDA to $167.5 million.

The company's financial position remains solid despite $87 million in acquisition spending. Net debt stands at $143.9 million with a leverage ratio of just 0.86x adjusted EBITDA. This conservative balance sheet provides ample flexibility for continued strategic investments. Free cash flow generation is robust, with $111.1 million in operating cash flow that supported not only acquisitions but also $41 million in capital expenditures, $15 million in dividends, and $21 million in share repurchases.

Looking ahead, management expects to surpass $1 billion in revenue for the first time in FY2026 and projects continued EPS growth, though at a slower pace due to higher interest expense and amortization costs from recent acquisitions. The company's 19.5% return on equity demonstrates excellent capital allocation efficiency, providing confidence in management's ability to create shareholder value through their disciplined growth strategy and operational excellence.

ROSEVILLE, Minn., May 14, 2025 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN) today announced fourth quarter and full-year results for its fiscal year ended March 30, 2025.

Fourth Quarter Fiscal Year 2025 Highlights:

• Record fourth quarter sales of $245.3 million, a 10% increase over the same quarter of the prior year, led by Water Treatment segment sales growth of 21% over the same quarter in the prior year.
• Record fourth quarter gross profit of $52.2 million, a 15% increase over the same quarter of the prior year, contributing to record fourth quarter operating income of $24.6 million, a 22% increase over the prior year.
• Record fourth quarter diluted earnings per share (EPS) of $0.78, which was 18% higher than the same period of the prior year.
• Record fourth quarter Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (adjusted EBITDA), a non-GAAP measure, of $36.7 million, an 18% increase over the same period of the prior year.

Full-Year Fiscal Year 2025 Highlights:

• Record annual sales of $974.4 million, an increase of 6% over the prior fiscal year, with Water Treatment segment sales up 23% over the prior year.
• Record gross profit of $225.5 million, a 16% increase over the prior year, contributing to record operating income of $119.2 million, a 15% year-over-year increase.
• Record diluted EPS of $4.03, which was $0.44, or 12%, higher than fiscal 2024.
• Record adjusted EBITDA, a non-GAAP measure, of $167.5 million, an increase of 17% over fiscal 2024.
• Operating cash flow of $111.1 million.
• Completed four acquisitions during the fiscal year, all of which supported growth in our Water Treatment segment.
• Ended the year with net debt of $143.9 million and a leverage ratio of 0.86x adjusted EBITDA.
• Paid cash dividends of $0.70 per share for the year, an increase of 11% over the prior year. This marks the 40^th consecutive year of paying a dividend.

Executive Commentary – Patrick H. Hawkins, Chief Executive Officer and President:

“Fiscal 2025 was another exciting year of growth for our company. This resulted in records in sales, gross margin, operating income, EPS, and adjusted EBITDA. We are extremely proud of our accomplishments over the past year that allowed us to achieve these record levels. Our focus has been to deliver sustained growth over time, and we accomplished our seventh straight year of EPS growth, helping to deliver return on equity of approximately 20%."

Mr. Hawkins continued, "Our disciplined M&A strategy again contributed to the growth of our Water Treatment segment, which is now our largest segment. We completed four acquisitions during the year, and have completed 13 acquisitions over the last five years. Subsequent to the end of our fiscal year, and as previously disclosed, we acquired WaterSurplus to continue our growth. WaterSurplus is an excellent addition to our portfolio, and we are excited to have the team on board."

Mr. Hawkins continued, “Our Water Treatment segment achieved sales growth of 23% for the year, through sales from our acquired companies as well as organic growth. Sales in our Industrial and Health and Nutrition segments were down for the year but were up in the fourth quarter, and both of these segments had double-digit operating income growth for the year. Overall, operating income was 15% higher than fiscal 2024.”

Mr. Hawkins concluded, “Looking ahead to fiscal 2026, we expect all of our business segments to grow and our revenue to surpass $1 billion for the first time in our 86-year history. We expect EPS to grow as well, although at a slower rate than in recent years due to higher interest expense associated with the new debt financing and increased amortization expense related to our recent acquisitions. We expect our cash flow and balance sheet to remain strong, and with the diversity of our businesses and the overall strength of our company, we believe we will continue to generate strong operating cash flow. This will allow us to fund future growth investments and pay down a portion of our debt during fiscal year 2026 as we expect to achieve a leverage ratio below 1x adjusted EBITDA by the end of fiscal year 2027.”

Change in Reporting Segments

Subsequent to the close of fiscal 2025, we realigned our reporting segments to reflect organizational changes made and to reflect the way we manage our operations and allocate resources. In the first quarter of fiscal 2026, we will report on the following reporting segments: Water Treatment, Health and Food Sciences (which will represent our food, pharmaceutical, agriculture, and nutrition end markets), and Industrial Solutions. We believe this realignment better reflects the value our company provides to our customers and our evolution from a bulk commodity distributor into a specialty ingredients company.

Fourth Quarter and Fiscal Year Financial Highlights:

NET INCOME

For the fourth quarter of fiscal 2025, the company reported net income of $16.3 million, or $0.78 per diluted share, compared to net income for the fourth quarter of fiscal 2024 of $13.8 million, or $0.66 per diluted share.

For the full year, the Company reported record net income of $84.3 million, or $4.03 per diluted share, compared to net income for fiscal 2024 of $75.4 million, or $3.59 per diluted share.

REVENUE

For the fourth quarter of fiscal 2025, sales were $245.3 million, an increase of $22.3 million, or 10%, from sales of $223.0 million a year ago. Each of our segments contributed to the year-over-year growth, with our Water Treatment segment leading the way with 21% growth. Water Treatment segment sales increased $18.3 million, or 21%, to $105.0 million for the fourth quarter, as compared to $86.7 million for the same period a year ago. Sales increased primarily as a result of $13.0 million of added sales from acquired businesses as well as increased sales volumes in our legacy business. Industrial segment sales increased $0.3 million, or less than 1%, to $97.4 million for the fourth quarter, as compared to $97.1 million for the same period a year ago. Sales increased primarily due to a favorable product mix shift. Health and Nutrition segment sales increased $3.7 million, or 9%, to $42.9 million for the fourth quarter, as compared to $39.3 million for the same period a year ago. Sales increased primarily due to increased sales of our manufactured products.

For fiscal 2025, Water Treatment segment sales were $446.5 million for the year, an increase of 23% over last year’s sales of $363.3 million; of the $83.2 million increase, $72 million was from our acquired businesses in fiscal 2025. Industrial segment sales were $382.5 million, a decrease of 7% from fiscal 2024 sales of $409.5 million. Sales for our Health and Nutrition segment were $145.5 million in fiscal 2025, a decrease of 1%, from fiscal 2024 sales of $146.4 million.

GROSS PROFIT

Company-wide gross profit for fiscal 2025 increased $31.9 million, or 16%, to $225.5 million, or 23% of sales, from $193.6 million, or 21% of sales, for fiscal 2024. During fiscal 2025, the LIFO reserve decreased, and gross profits increased, by $1.6 million, primarily due to lower prices year-over-year on certain products. During fiscal 2024, the LIFO reserve decreased, and gross profits increased, by $15.4 million. Included as a reduction to gross profit in fiscal 2024 was a $7.7 million charge to operating expense for an environmental liability related to perchlorinated biphenyls (PCBs) discovered in the soil at our Rosemount, MN facility, with such expense reflected in our Industrial segment. The source of the PCBs is unknown and pre-dates our ownership of the property; however, we are responsible for the clean-up despite having never brought PCBs onto the property or used PCBs on the site.

Gross profit for the Water Treatment segment increased $23.1 million, or 23%, to $121.6 million, or 27% of sales, for fiscal 2025, from $98.5 million, or 27% of sales, for fiscal 2024. During fiscal 2025, the LIFO reserve decreased, and gross profits increased, by $0.5 million. During fiscal 2024, the LIFO reserve decreased, and gross profit increased, by $3.3 million. Gross profit increased as a result of the increased sales.

Gross profit for the Industrial segment increased $5.1 million, or 8%, to $72.6 million, or 19% of sales, for fiscal 2025, from $67.5 million, or 16% of sales, for fiscal 2024. During fiscal 2025, the LIFO reserve decreased, and gross profits increased, by $1.1 million. In fiscal 2024, the LIFO reserve decreased, and gross profits increased, by $12.1 million. Included as a reduction to gross profit in the prior year was the aforementioned environmental liability related to PCBs at our Rosemount, MN facility. Gross profit increased as a result of the environmental charge in the prior year not repeating in the current year, partially offset by the negative year-over-year impact of the change in the LIFO reserve, as well as improved margins on certain products.

Gross profit for our Health and Nutrition segment increased $3.7 million, or 13%, to $31.3 million, or 22% of sales, for fiscal 2025, from $27.6 million, or 19% of sales, for fiscal 2024. Gross profit increased as a result of a favorable product mix shift.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

SG&A expenses increased $16.8 million, or 19% to $106.4 million, or 11% of sales, for fiscal 2025, from $89.6 million, or 10% of sales, for fiscal 2024. Expenses increased largely due to $10.4 million in added costs from the acquired business in our Water Treatment segment, including amortization of intangibles of $4.2 million, as well as increased variable costs.

ADJUSTED EBITDA

Adjusted EBITDA, a non-GAAP financial measure, is an important performance indicator and a key compliance measure under the terms of our credit agreement. An explanation of the computation of adjusted EBITDA is presented below. Adjusted EBITDA for the three months ended March 30, 2025, was $36.7 million, an increase of $5.7 million, or 18%, from adjusted EBITDA of $31.0 million for the same period in the prior year. Full-year adjusted EBITDA was $167.5 million, an increase of $24.5 million, or 17%, from adjusted EBITDA of $143.0 million for fiscal 2024. The increase was due to the impact of improved gross profits discussed above.

INCOME TAXES

Our effective tax rate was approximately 26% for both fiscal 2025 and fiscal 2024. The effective tax rate is impacted by projected levels of annual taxable income, permanent items, and state taxes.

BALANCE SHEET

At the end of fiscal 2025, our working capital was $20 million higher than the end of fiscal 2024 due to increased customer receivables as a result of higher sales, as well as higher inventory levels. For the year, our operating cash flow of $111 million and net debt borrowing of $50 million was primarily deployed to grow the company or provide shareholder return. This included funding $87 million in acquisition spending for the acquisitions of Intercoastal Trading, Inc., Wofford Water Service, Inc., Waterguard, Inc., and Amerochem Corporation, capital spending of $41 million, dividend payments of $15 million, and stock repurchases of $21 million. Our total debt outstanding at the end of fiscal 2025 was $149 million and our leverage ratio was 0.86 times our trailing twelve-month proforma adjusted EBITDA, as compared to 0.66x at the end of fiscal 2024. Subsequent to year-end, our leverage ratio increased above 1.0x adjusted EBITDA with the WaterSurplus acquisition.

About Hawkins, Inc.

Hawkins, Inc. was founded in 1938 and is a leading water treatment and specialty ingredients company that formulates, manufactures, distributes and blends products for its Water Treatment, Food & Health Sciences and Industrial Solutions customers. Headquartered in Roseville, Minnesota, the Company has 63 facilities in 28 states and creates value for its customers through superb customer service and support, quality products and personalized applications. Hawkins, Inc. generated $974 million of revenue in fiscal 2025 and has approximately 1,100 employees. For more information, including registering to receive email alerts, please visit www.hawkinsinc.com/investors.

Reconciliation of Non-GAAP Financial Measures

We report our consolidated financial results in accordance with U.S. generally accepted accounting principles (GAAP). To assist investors in understanding our financial performance between periods, we have provided certain financial measures not computed according to GAAP, including adjusted EBITDA and return on equity. These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies.

Management uses these non-GAAP financial measures internally to understand, manage and evaluate our business and to make operating decisions. Management believes that these non-GAAP financial measures reflects an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provides a more complete understanding of the factors and trends affecting our financial condition and results of operations.

We define adjusted EBITDA as GAAP net income adjusted for the impact of the following: net interest expense resulting from our net borrowing position; income tax expense; non-cash expenses including amortization of intangibles, depreciation, and charges for the employee stock purchase plan and restricted stock grants; and non-recurring items of income or expense, if applicable.

Adjusted EBITDA	Three Months Ended						Fiscal Year Ended
(In thousands)	March 30, 2025			March 31, 2024			March 30, 2025			March 31, 2024
Net income (GAAP)	$	16,327		$	13,832		$	84,345		$	75,363
Interest expense		1,526			1,249			5,432			4,282
Income tax expense		6,095			5,493			30,038			25,782
Amortization of intangibles		3,553			2,753			12,764			8,539
Depreciation expense		7,027			6,201			27,184			23,264
Non-cash compensation expense		1,476			1,374			6,498			4,880
Non-recurring acquisition expense		649			85			1,229			917
Adjusted EBITDA	$	36,653		$	30,987		$	167,490		$	143,027

We define return on equity as net income divided by average shareholders' equity.

Return on Equity
($ in thousands)	Fiscal Year Ended March 30, 2025
Net income (GAAP)	$	84,345
Shareholders' equity at beginning of period	$	406,026
Shareholders' equity at end of period		460,292
Average shareholders' equity	$	433,159
Return on equity		19.5	%

HAWKINS, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands, except share and per-share data)

		Three Months Ended								Fiscal Year Ended
		March 30, 2025				March 31, 2024				March 30, 2025				March 31, 2024
		(unaudited)
Sales		$	245,318			$	223,020			$	974,431			$	919,162
Cost of sales			(193,081	)			(177,509	)			(748,893	)			(725,526	)
Gross profit			52,237				45,511				225,538				193,636
Selling, general and administrative expenses			(27,662	)			(25,427	)			(106,364	)			(89,600	)
Operating income			24,575				20,084				119,174				104,036
Interest expense, net			(1,526	)			(1,249	)			(5,432	)			(4,282	)
Other income (expense)			(627	)			490				641				1,391
Income before income taxes			22,422				19,325				114,383				101,145
Income tax expense			(6,095	)			(5,493	)			(30,038	)			(25,782	)
Net income		$	16,327			$	13,832			$	84,345			$	75,363
Weighted average number of shares outstanding-basic			20,728,528				20,790,260				20,803,872				20,864,348
Weighted average number of shares outstanding-diluted			20,848,118				20,929,056				20,936,502				21,014,326
Basic earnings per share		$	0.79			$	0.67			$	4.05			$	3.61
Diluted earnings per share		$	0.78			$	0.66			$	4.03			$	3.59

HAWKINS, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands, except share and per-share data)

		March 30, 2025			March 31, 2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	5,103		$	7,153
Trade accounts receivables, net			131,795			114,477
Inventories			83,512			74,600
Income taxes receivable			2,864			—
Prepaid expenses and other current assets			7,417			6,596
Total current assets			230,691			202,826
PROPERTY, PLANT, AND EQUIPMENT:
Land			18,679			17,916
Buildings and improvements			163,913			147,701
Machinery and equipment			150,981			141,262
Transportation equipment			78,064			67,868
Office furniture and equipment			9,316			11,901
			420,953			386,648
Less accumulated depreciation			195,667			177,774
Net property, plant, and equipment			225,286			208,874
OTHER ASSETS:
Right-of-use assets			13,449			11,713
Goodwill			135,409			103,399
Intangible assets, net			150,121			116,626
Deferred compensation plan asset			11,185			9,584
Other			3,726			4,912
Total other assets			313,890			246,234
Total assets		$	769,867		$	657,934
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable — trade		$	61,195		$	56,387
Accrued payroll and employee benefits			19,659			19,532
Current portion of long-term debt			9,913			9,913
Income tax payable			—			1,943
Environmental remediation			7,700			7,700
Other current liabilities			8,668			7,832
Total current liabilities			107,135			103,307
LONG-TERM LIABILITIES:
Long-term debt, less current portion			138,906			88,818
Long-term lease liability			10,920			9,530
Pension withdrawal liability			3,155			3,538
Deferred income taxes			22,356			22,406
Deferred compensation liability			13,132			11,764
Earnout liability			12,604			11,235
Other long-term liabilities			1,367			1,310
Total long-term liabilities			202,440			148,601
Total liabilities			309,575			251,908
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Common shares; authorized: 60,000,000 shares of $0.01 par value; 20,684,621 and 20,790,261 shares issued and outstanding for 2025 and 2024, respectively			207			208
Additional paid-in capital			24,094			38,154
Retained earnings			434,259			364,549
Accumulated other comprehensive income			1,732			3,115
Total shareholders’ equity			460,292			406,026
Total liabilities and shareholders’ equity		$	769,867		$	657,934

HAWKINS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)

		Fiscal Year Ended
		March 30, 2025				March 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	84,345			$	75,363
Reconciliation to cash flows:
Depreciation and amortization			39,948				31,803
Change in fair value of earnout liability			1,369				571
Operating leases			3,475				2,708
Gain on deferred compensation assets			(641	)			(1,391	)
Deferred income taxes			461				(1,459	)
Stock compensation expense			6,498				4,880
Gain from asset disposals			(61	)			(85	)
Other			87				87
Changes in operating accounts (using) providing cash, net of acquisitions:
Trade receivables			(11,230	)			21,399
Inventories			(6,572	)			19,921
Accounts payable			2,445				(828	)
Accrued liabilities			476				10,708
Lease liabilities			(3,468	)			(2,676	)
Income taxes			(4,807	)			(1,390	)
Other			(1,229	)			(112	)
Net cash provided by operating activities			111,096				159,499
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant, and equipment			(41,096	)			(40,151	)
Acquisitions			(87,400	)			(83,455	)
Proceeds from asset disposals			544				1,102
Net cash used in investing activities			(127,952	)			(122,504	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends paid			(14,635	)			(13,238	)
New shares issued			2,658				2,242
Shares surrendered for payroll taxes			(2,541	)			(2,140	)
Shares repurchased			(20,676	)			(11,272	)
Payments on senior secured revolving loan			(60,000	)			(98,000	)
Borrowings on senior secured revolving loan			110,000				85,000
Net cash provided by (used in) financing activities			14,806				(37,408	)
NET DECREASE IN CASH AND CASH EQUIVALENTS			(2,050	)			(413	)
CASH AND CASH EQUIVALENTS - beginning of year			7,153				7,566
CASH AND CASH EQUIVALENTS - end of year		$	5,103			$	7,153
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION-
Cash paid during the year for income taxes		$	34,386			$	28,631
Cash paid for interest			5,785				4,654
Noncash investing activities - Capital expenditures in accounts payable			1,841				2,697

HAWKINS, INC.
REPORTABLE SEGMENTS (UNAUDITED)
(In thousands)

		Water Treatment			Industrial			Health and Nutrition			Total
Fiscal Year Ended March 30, 2025:
Sales		$	446,489		$	382,487		$	145,455		$	974,431
Cost of sales - materials			259,721			285,295			106,524			651,540
Cost of sales - operational overhead			65,159			24,591			7,603			97,353
Gross profit			121,609			72,601			31,328			225,538
Selling, general, and administrative expenses			61,993			27,540			16,831			106,364
Operating income		$	59,616		$	45,061		$	14,497		$	119,174
Fiscal Year Ended March 31, 2024:
Sales		$	363,289		$	409,465		$	146,408		$	919,162
Cost of sales - materials			214,020			310,074			111,460			635,554
Cost of sales - operational overhead			50,771			31,846			7,355			89,972
Gross profit			98,498			67,545			27,593			193,636
Selling, general, and administrative expenses			45,286			28,316			15,998			89,600
Operating income		$	53,212		$	39,229		$	11,595		$	104,036

Forward-Looking Statements. Various remarks in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include those relating to expectations for results in our business segments and our ability to generate cash flow and pay down debt. These statements are not historical facts, but rather are based on our current expectations, estimates and projections, and our beliefs and assumptions. Forward-looking statements may be identified by terms, including “anticipate,” “believe,” “can,” “could,” “expect,” “intend,” “may,” “predict,” “should,” or “will” or the negative of these terms or other comparable terms. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Actual results may vary materially from those contained in forward looking statements based on a number of factors, including, but not limited to, changes in regulation, changes in the labor markets, changes in competition and price pressures, changes in demand and customer requirements or processes for our products, availability of product and disruptions to supplies, interruptions in production resulting from hazards, transportation limitations or other extraordinary events outside our control that may negatively impact our business or the supply chains in which we participate, changes in imported products and tariff levels, the availability of products and the prices at which they are available, the acceptance of new products by our customers and the timing of any such acceptance, changes in pricing of our products and our ability to pass any changes on to our customers, changes in product supplies and the terms of our credit agreement. Additional information concerning potential factors that could affect future financial results is included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, as updated from time to time in amendments and subsequent reports filed with the SEC. Investors should take such risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on forward-looking statements, which reflect our management’s view only as of the date hereof. We do not undertake any obligation to update any forward-looking statements.

Contacts:		Jeffrey P. Oldenkamp
		Executive Vice President and Chief Financial Officer
		612/331-6910
		ir@HawkinsInc.com

FAQ

What were Hawkins (HWKN) key financial results for Q4 and FY2025?

In Q4 FY2025, Hawkins reported sales of $245.3M (up 10% YoY) and EPS of $0.78 (up 18% YoY). For full-year FY2025, sales reached $974.4M (up 6% YoY) with EPS of $4.03 (up 12% YoY).

How many acquisitions did Hawkins (HWKN) complete in fiscal 2025?

Hawkins completed 4 acquisitions during fiscal 2025, all supporting growth in the Water Treatment segment, and subsequently acquired WaterSurplus after the fiscal year end.

What is Hawkins (HWKN) revenue guidance for fiscal 2026?

Hawkins expects to surpass $1 billion in revenue for the first time in FY2026, though EPS growth is expected to slow due to higher interest and amortization expenses.

How did Hawkins (HWKN) Water Treatment segment perform in fiscal 2025?

The Water Treatment segment, now Hawkins' largest segment, achieved sales growth of 23% YoY to $446.5M, with $72M coming from acquired businesses.

What is Hawkins (HWKN) current dividend status?

Hawkins paid cash dividends of $0.70 per share for FY2025, an 11% increase over the prior year, marking its 40th consecutive year of paying dividends.