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Hawkins (HWKN) Earnings and Revenues Top Estimates in Q4
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Hawkins, Inc. (HWKN - Free Report) logged earnings of 55 cents per share for fourth-quarter fiscal 2023 (ended Apr 2, 2023), up from 50 cents in the year-ago quarter. Earnings for the reported quarter topped the Zacks Consensus Estimate of 49 cents.
The company registered revenues of $228.1 million for the quarter, up roughly 2% year over year. It also surpassed the Zacks Consensus Estimate of $214.4 million. The top line was driven by higher selling prices. HWKN saw sales gains across Industrial and Water Treatment segments.
Industrial segment sales edged up 0.3% year over year to $117.7 million in the reported quarter, driven by higher selling prices on many of the company’s products led by higher costs of raw materials.
Sales from the Water Treatment segment climbed 19% year over year to $71.4 million. Sales were driven by higher selling prices on many of HWKN’s products and increased sales of its products.
Health and Nutrition segment sales fell 14% year over year to $39.1 million. Lower sales of specialty distributed products more than offset higher sales of manufactured products.
Fiscal 2023 Results
Earnings or fiscal 2023 were $2.86 per share, up from $2.44 a year ago. Revenues were $935.1 million for the full year, up around 21% year over year.
Financial
The company ended fiscal 2023 with cash and cash equivalents of roughly $7.6 million, up around 116% year over year. Long-term debt was roughly $101.7 million at the end of the fiscal, down around 12% year over year.
Net cash provided by operating activities was $77.4 million for fiscal 2023, compared with $42.8 million a year ago.
Outlook
Moving ahead, the company sees sustained growth in top and bottom lines in Water Treatment on the back of investments and acquisitions it has made in the segment. While it is cautiously optimistic about the Industrial segment, economic pressures will continue to impact many of its customers and impact demand, HWKN noted. The company also expects the decline it saw in Health and Nutrition in the latter half of fiscal 2023 to continue through much of fiscal 2024.
Price Performance
Shares of Hawkins have gained 21.2% over a year compared with the industry’s rise of 1.4%.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Hawkins currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Steel Dynamics, Inc. (STLD - Free Report) , PPG Industries, Inc. (PPG - Free Report) and Linde plc (LIN - Free Report) .
Steel Dynamics’ earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 10.7%, on average. STLD has gained around 23% in a year.
PPG Industries currently carries a Zacks Rank #2. The Zacks Consensus Estimate for PPG's current-year earnings has been revised 11.2% upward in the past 60 days.
PPG Industries’ earnings beat the Zacks Consensus Estimate in three of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 6.8%, on average. PPG has gained around 15% in a year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days.
Linde beat Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 5.9% on average. LIN’s shares have gained roughly 15% in the past year.
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Hawkins (HWKN) Earnings and Revenues Top Estimates in Q4
Hawkins, Inc. (HWKN - Free Report) logged earnings of 55 cents per share for fourth-quarter fiscal 2023 (ended Apr 2, 2023), up from 50 cents in the year-ago quarter. Earnings for the reported quarter topped the Zacks Consensus Estimate of 49 cents.
The company registered revenues of $228.1 million for the quarter, up roughly 2% year over year. It also surpassed the Zacks Consensus Estimate of $214.4 million. The top line was driven by higher selling prices. HWKN saw sales gains across Industrial and Water Treatment segments.
Hawkins, Inc. Price, Consensus and EPS Surprise
Hawkins, Inc. price-consensus-eps-surprise-chart | Hawkins, Inc. Quote
Segment Highlights
Industrial segment sales edged up 0.3% year over year to $117.7 million in the reported quarter, driven by higher selling prices on many of the company’s products led by higher costs of raw materials.
Sales from the Water Treatment segment climbed 19% year over year to $71.4 million. Sales were driven by higher selling prices on many of HWKN’s products and increased sales of its products.
Health and Nutrition segment sales fell 14% year over year to $39.1 million. Lower sales of specialty distributed products more than offset higher sales of manufactured products.
Fiscal 2023 Results
Earnings or fiscal 2023 were $2.86 per share, up from $2.44 a year ago. Revenues were $935.1 million for the full year, up around 21% year over year.
Financial
The company ended fiscal 2023 with cash and cash equivalents of roughly $7.6 million, up around 116% year over year. Long-term debt was roughly $101.7 million at the end of the fiscal, down around 12% year over year.
Net cash provided by operating activities was $77.4 million for fiscal 2023, compared with $42.8 million a year ago.
Outlook
Moving ahead, the company sees sustained growth in top and bottom lines in Water Treatment on the back of investments and acquisitions it has made in the segment. While it is cautiously optimistic about the Industrial segment, economic pressures will continue to impact many of its customers and impact demand, HWKN noted. The company also expects the decline it saw in Health and Nutrition in the latter half of fiscal 2023 to continue through much of fiscal 2024.
Price Performance
Shares of Hawkins have gained 21.2% over a year compared with the industry’s rise of 1.4%.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Hawkins currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Steel Dynamics, Inc. (STLD - Free Report) , PPG Industries, Inc. (PPG - Free Report) and Linde plc (LIN - Free Report) .
Steel Dynamics currently sports a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for STLD's current-year earnings has been revised 3.9% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Steel Dynamics’ earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 10.7%, on average. STLD has gained around 23% in a year.
PPG Industries currently carries a Zacks Rank #2. The Zacks Consensus Estimate for PPG's current-year earnings has been revised 11.2% upward in the past 60 days.
PPG Industries’ earnings beat the Zacks Consensus Estimate in three of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 6.8%, on average. PPG has gained around 15% in a year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days.
Linde beat Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 5.9% on average. LIN’s shares have gained roughly 15% in the past year.