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Hawkins (HWKN) Q4 Earnings and Sales Surpass Estimates

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·3 min read
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Hawkins, Inc. HWKN logged earnings of 43 cents per share for fourth-quarter fiscal 2021 (ended Mar 28, 2021), up from 22 cents in the year-ago quarter. Earnings for the reported quarter topped the Zacks Consensus Estimate of 26 cents.

The company registered revenues of $163 million for the quarter, up roughly 23% year over year. It also surpassed the Zacks Consensus Estimate of $150.4 million.

Hawkins, Inc. Price, Consensus and EPS Surprise

Hawkins, Inc. Price, Consensus and EPS Surprise
Hawkins, Inc. Price, Consensus and EPS Surprise

Hawkins, Inc. price-consensus-eps-surprise-chart | Hawkins, Inc. Quote

Segment Highlights

Industrial segment sales went up 11% year over year to $76.3 million in the reported quarter, aided by product mix shift to more sales of higher-priced manufactured, blended and repackaged products.

Sales from the Water Treatment segment rose 16% year over year to $41.5 million. Sales were driven by added sales from the acquisitions of ADC and C&L Aqua.

Health and Nutrition segment sales climbed 63% year over year to $45.2 million. The upside is attributable to higher sales of both the company’s manufactured and specialty distributed products resulting from increased consumer demand for health and immunity products.

FY21 Results

Earnings for fiscal 2021 were $1.93 per share, up from earnings of $1.33 per share a year ago. Revenues rose around 10% year over year to $596.9 million for the full year.

Financial

The company ended fiscal 2021 with cash and cash equivalents of roughly $3 million, down around 30% year over year. Long-term debt was roughly $88.8 million at the end of the fiscal, up around 78% year over year.

Net cash provided by operating activities was $43.8 million for fiscal 2021, compared with $58.9 million a year ago.

Outlook

Moving ahead, the company expects to continue to execute its long-term growth strategy. It expects the Water Treatment segment to recover from the impact of the coronavirus pandemic and witness growth in fiscal 2022. The Industrial segment is projected to remain steady. However, Hawkins is cautious about the Health and Nutrition unit in fiscal 2022.

Price Performance

Shares of Hawkins have gained 63.3% over a year compared with the industry’s decline of 7.3%.

Zacks Rank & Key Picks

Hawkins currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks worth considering in the basic materials space include Nucor Corporation NUE, Celanese Corporation CE and Impala Platinum Holdings Limited IMPUY.

Nucor has a projected earnings growth rate of 228.4% for the current year. The company’s shares have rallied around 153% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Celanese has an expected earnings growth rate of around 68.3% for the current year. The company’s shares have shot up roughly 91% in the past year. It currently sports a Zacks Rank #1.

Impala Platinum has an expected earnings growth rate of 225.2% for the current fiscal. The company’s shares have surged around 157% in the past year. It currently carries a Zacks Rank #2 (Buy).

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