Loading...
•
Jul 02, 2023
Hawkins Q1 2024 Earnings Report
Hawkins reported strong Q1 2024 results driven by Water Treatment segment growth and favorable LIFO adjustment.
Key Takeaways
Hawkins, Inc. reported record quarterly performance in Q1 2024, with sales of $251.1 million, a 2% year-over-year increase. EPS increased to $1.12, a 19% increase year-over-year. The Water Treatment group led the growth with a 19% increase in revenue. Net income was $23.4 million.
Record quarterly performance in sales, gross profit, operating income, net income, and EPS.
Sales increased by 2% year-over-year to $251.1 million, driven by a 19% growth in the Water Treatment group.
EPS increased by 19% year-over-year to $1.12.
Operating cash flow was $34.9 million, with $23.4 million used to pay down the revolving line of credit.
Hawkins
Hawkins
Hawkins Revenue by Segment
Revenue by Segment
Water Treatment Revenue
CapyFin.comIndustrial Revenue
CapyFin.comHealth and Nutrition Revenue
CapyFin.com Forward Guidance
Hawkins expects continued growth in Water Treatment segment for the remainder of the year, although not at the pace of the first quarter and remains cautiously optimistic about the Industrial segment. The company believes it will continue to generate strong operating cash flow and will continue to manage debt during the remainder of the fiscal year.
Positive Outlook
- Continued growth in the Water Treatment segment is expected.
- Company anticipates generating strong operating cash flow.
- Management is focused on managing debt effectively.
- Company has diversity of businesses
- Company sees overall strength
Challenges Ahead
- Growth in Water Treatment segment not expected to be at the same pace as Q1.
- Customers continue to destock inventory levels in Health and Nutrition
- Lower consumer demand for health and immunity products
- Expected destocking to continue through the remainder of the year in Health and Nutrition
- Industrial group sales declined 3% year over year
Revenue & Expenses
Visualization of income flow from segment revenue to net income