About Hawkins, Inc. Mr. Hawkins continued, "Wofford Water Service has built a strong business that is well-connected with the local community, and we intend to maintain those connections. I would like to welcome the Wofford Water Service team to the Hawkins organization and look forward to our continued growth together." ROSEVILLE, Minn., July 01, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN), a leading specialty chemical and ingredients company, has completed the acquisition of Wofford Water Servic ...

ROSEVILLE, Minn., July 01, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN), a leading specialty chemical and ingredients company, has completed the acquisition of Wofford Water Service, Inc. ("Wofford Water Service"). Wofford Water Service distributes water treatment chemicals and equipment for its customers mainly in Mississippi. "The acquisition of Wofford Water Service helps build out our southern U.S. Expansion, by giving us a larger customer base in Mississippi, where we do limited business today ...

Hawkins, Inc. (HWKN) has completed the acquisition of the assets of Intercoastal Trading, Inc. and its affiliates. Intercoastal Trading supplies water treatment chemicals and equipment to customers in Maryland, Delaware and Virginia. Hawkins continues to expand its water treatment business. Intercoastal Trading will speed its expansion in the heavily populated East Coast with its location within 200 miles of major population centers. Hawkins anticipates that the purchase of Intercostal Trading will be accre ...

ROSEVILLE, Minn, June 03, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN), a leading specialty chemical and ingredients company, has completed the acquisition of the assets of Intercoastal Trading, Inc. and its affiliated companies. Intercoastal Trading distributes water treatment chemicals and equipment for its customers in Maryland, Delaware, and Virginia. "As we continue to grow our water treatment business, Intercoastal Trading will accelerate our expansion in the heavily populated East Coast with ...

ROSEVILLE, Minn, June 03, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN), a leading specialty chemical and ingredients company, has completed the acquisition of the assets of Intercoastal Trading, Inc. and its affiliated companies. Intercoastal Trading distributes water treatment chemicals and equipment for its customers in Maryland, Delaware, and Virginia. "As we continue to grow our water treatment business, Intercoastal Trading will accelerate our expansion in the heavily populated East Coast with ...

Segment Highlights Industrial segment sales fell 18% year over year to $97.1 million in the reported quarter. Sales in the segment were affected by the divestment of the company's consumer bleach packaging business, decreased volumes and lower selling prices on certain products due to reduced raw material costs and competitive pricing pressures. Sales from the Water Treatment segment climbed 21% year over year to $86.7 million. Sales were driven by added sales from acquired businesses. Hawkins, Inc. (HWKN) ...

Financial Performance - Sales for fiscal 2024 were $919.2 million, a decrease of $15.9 million, or 2%, from $935.1 million in fiscal 2023[112] - Gross profit increased by $28.5 million, or 17%, to $193.6 million, representing 21% of sales for fiscal 2024, compared to 18% of sales in fiscal 2023[116] - Diluted earnings per share (EPS) rose to $3.59, an increase of $0.73, or 26%, from $2.86 in fiscal 2023[104] - Operating income rose by $15.8 million, or 18%, to $104.0 million, or 11% of sales, for fiscal 2024, compared to 9% of sales in fiscal 2023[121] Segment Performance - The Water Treatment segment saw sales increase by $58.4 million, or 19%, to $363.3 million for fiscal 2024, driven by increased selling prices and sales volumes[114] - The Industrial segment experienced a sales decline of $61.3 million, or 13%, to $409.5 million for fiscal 2024, impacted by lower volumes and the sale of the consumer bleach packaging business[113] Expenses and Costs - SG&A expenses increased by $12.6 million, or 16%, to $89.6 million, or 10% of sales, for fiscal 2024, influenced by costs from acquired businesses[120] Cash Flow and Investments - Cash provided by operating activities increased by $82.1 million to $159.5 million in fiscal 2024, primarily due to favorable changes in trade receivables and inventory[125] - Cash used in investing activities increased to $122.5 million in fiscal 2024 from $41.2 million in fiscal 2023, primarily due to an acquisition spending of $83.5 million[126] - Capital expenditures for property, plant, and equipment decreased to $40.2 million in fiscal 2024 from $48.3 million in fiscal 2023, driven by reduced facility improvements and expansions[126] - Cash used in financing activities rose to $37.4 million in fiscal 2024 compared to $32.1 million in fiscal 2023, including cash dividends of $13.2 million and share repurchases of $11.3 million[127] Tax and Compliance - The effective tax rate decreased to approximately 26% for fiscal 2024, down from 27% in fiscal 2023, due to favorable tax provision adjustments[122] - The company is in compliance with all covenants of the Credit Agreement as of March 31, 2024, and expects to remain compliant for the next 12 months[133] Debt and Interest Rates - The company has a Revolving Loan Facility totaling $250.0 million, with a five-year maturity date, maturing on April 30, 2027[129] - The effective interest rate on borrowings under the Revolving Loan Facility was 4.3% as of March 31, 2024[130] - A 25-basis point change in interest rates on the variable-rate portion of debt not covered by the interest rate swap could potentially affect annual interest expense by approximately $0.1 million[142] Future Plans - The company acquired four businesses in fiscal 2024, contributing approximately $70 million in annual revenue[108] - The company anticipates total capital expenditures in the range of $40 to $45 million for fiscal 2025[138] - The company plans to pursue acquisitions or strategic relationships to complement or expand its existing businesses[136]

ROSEVILLE, Minn., May 13, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (NASDAQ:HWKN), a leading specialty chemical company, today announced that it will participate in the Wells Fargo Industrials Conference on June 11, 2024. The conference will be held at the Loews Chicago. The conference will consist of fireside chats and one-on-one meetings. Hawkins management will participate on June 11th. For more information about the conference or to schedule a meeting with Hawkins management, please contact the event coord ...

ROSEVILLE, Minn., May 01, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (NASDAQ:HWKN) announced today that it expects to release its financial results for its fourth quarter and fiscal year ended March 31, 2024 after the market closes on May 15, 2024 at approximately 4:10 p.m. Eastern Time.  About Hawkins, Inc. Hawkins, Inc. was founded in 1938 and is a leading specialty chemical and ingredients company that formulates, distributes, blends, and manufactures products for its Industrial, Water Treatment, and Health ...

ROSEVILLE, Minn., May 01, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN) announced today that it expects to release its financial results for its fourth quarter and fiscal year ended March 31, 2024 after the market closes on May 15, 2024 at approximately 4:10 p.m. Eastern Time.  About Hawkins, Inc. Hawkins, Inc. was founded in 1938 and is a leading specialty chemical and ingredients company that formulates, distributes, blends, and manufactures products for its Industrial, Water Treatment, and Health ...