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Oct 02, 2022
Hawkins Q2 2023 Earnings Report
Hawkins reported record second quarter performance with sales, gross profit, operating income, net income and EPS increasing year-over-year.
Key Takeaways
Hawkins, Inc. announced record second quarter fiscal 2023 results, with sales increasing by 32% year-over-year. The company reported growth across all three reporting segments, driven primarily by price increases. EPS increased by 28% compared to the same period last year.
Record second quarter performance for sales, gross profit, operating income, net income, and EPS.
Sales increased by 32% year-over-year, with growth in all three reporting segments.
Gross profit increased by 24% year-over-year, contributing to a 35% increase in operating income.
EPS increased by 28% compared to the same period last year.
Revenue by Segment
Forward Guidance
Looking to the third quarter, one of our large suppliers recently had an unplanned shut down which has put additional cost pressures on us, as we secure product from other sources to allocate to our customers. In addition, we are starting to see softness in the Health and Nutrition segment, and we expect significant LIFO expenses to continue in the third quarter. These items will impact the third quarter negatively and we expect it to cause EPS to be relatively flat when compared to the prior year. We expect supply to return to normal by the fourth quarter.
Positive Outlook
- Expect top-line growth to continue in all segments.
- Growing both organically and through acquisitions in future years.
- Focus on the long-term.
- Expect supply to return to normal by the fourth quarter.
- Continued growth in Industrial and Water Treatment segments.
Challenges Ahead
- Unplanned supplier shutdown putting additional cost pressures.
- Softness in the Health and Nutrition segment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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