Hawkins Q2 Sales Slip to $313.8M From $315.7M Prior Quarter
HWKN sits 17% above its 52-week low of $116.045.
Summary
Hawkins posted fiscal Q2 sales of $313.8M, a slight step down from the $315.7M it reported for Q1, though revenue rose 12% and EPS climbed 23%. The company reported Q2 net income of $27.8M and EPS of $1.34. The prior quarter was already a warning shot: revenue edged past the $313.4M consensus but adjusted EBITDA of $56.9M missed as gross margins contracted and operating income fell 6% year-over-year. The company has been buying up regional distributors, adding Dave Symonds & Associates in Florida in September and Eagle Labs in the Dallas–Fort Worth area, so any organic growth is muddied by acquisition contribution.
At the time of this announcement, HWKN was trading at $135.44 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $116.05 to $174.12. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.