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. reports developments across a water treatment and specialty ingredients business that formulates, manufactures, distributes, and blends products for Water Treatment, Food & Health Sciences, and Industrial Solutions customers. News commonly covers segment financial results, quarterly dividend declarations, completed tuck-in acquisitions, and expansion of water treatment product and service offerings.
The company’s updates also include technology and subsidiary developments, including WaterSurplus and its NanoStack coated membranes for reverse osmosis applications. Recurring coverage links Hawkins’ operating performance to water treatment demand, chemical distribution, specialty ingredients, acquisition integration, and capital allocation through debt repayment, business investment, and dividends.
Hawkins (Nasdaq: HWKN) has acquired the assets of Intercoastal Trading, which distributes water treatment chemicals and equipment in Maryland, Delaware, and Virginia. This acquisition will enhance Hawkins' East Coast presence. CEO Patrick H. Hawkins stated that this expansion is expected to be accretive to earnings per share in this fiscal year, with a leverage ratio of about 1x EBITDA at quarter end. All previous acquisitions in fiscal 2024 are meeting or exceeding business plans. Intercoastal's employees will benefit from Hawkins' resources, ensuring continued customer service excellence.
Hawkins (Nasdaq: HWKN) announced its fourth quarter and full fiscal year 2024 results. Q4 sales were $223.0 million, down 2% year-over-year, but gross profit rose by 27% to $45.5 million. Q4 diluted EPS hit a record $0.66, a 20% increase. Annual sales dipped 2% to $919.2 million, with Water Treatment up 19%. Gross profit reached a record $193.6 million, up 17%.
The company achieved a record diluted EPS of $3.59 for the year, and adjusted EBITDA increased 20% to $143.0 million. Hawkins also reported record operating cash flow of $159.5 million, enabling $21 million in debt repayment. Four acquisitions were completed in the Water Treatment segment, now the company's largest revenue generator. Dividends increased by 11% to $0.63 per share.
CEO Patrick H. Hawkins attributed the performance to strong cash flow, disciplined margin management, and strategic acquisitions. Looking to fiscal 2025, Hawkins anticipates top-line revenue near $1 billion, continued growth in Water Treatment, and improved performance in Health and Nutrition.
The Board of Directors of Hawkins has declared a quarterly cash dividend of $0.16 per share, payable on June 14, 2024, to shareholders of record as of May 31, 2024. Hawkins, a specialty chemical and ingredients company, has consistently issued dividends since 1985. Founded in 1938, the company operates in the Industrial, Water Treatment, and Health & Nutrition sectors, boasting 59 facilities across 26 states. In fiscal 2023, Hawkins reported revenues of $935 million and employs around 950 people.
Hawkins, Inc. (Nasdaq: HWKN), a specialty chemical company, will participate in the Wells Fargo Industrials Conference on June 11, 2024, in Chicago. The conference will feature fireside chats and one-on-one meetings, with Hawkins management engaging on June 11th.
Hawkins, Inc. (Nasdaq: HWKN) will reveal its financial results for the fourth quarter and fiscal year ending March 31, 2024, on May 15, 2024, after the market closes. The announcement is scheduled for 4:10 p.m. Eastern Time.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.