Hawkins, Inc. reported a financial performance for the fiscal year ending March 30, 2025, with total sales reaching $974.4 million, marking a 6% increase from $919.2 million in the previous fiscal year. The company's gross profit also saw a significant rise, increasing by 16% to $225.5 million, compared to $193.6 million in fiscal 2024. Diluted earnings per share (EPS) rose to $4.03, reflecting a 12% increase from $3.59 in the prior year. The growth in sales and profitability was primarily driven by the Water Treatment segment, which experienced a 23% increase in sales, attributed to both organic growth and contributions from recent acquisitions.
In terms of strategic developments, Hawkins made several acquisitions during the fiscal year, including Amerochem Corporation, Waterguard, Wofford Water Service, and Intercoastal Trading, which collectively contributed approximately $67 million in annual revenue. These acquisitions were aimed at expanding the company's footprint in the water treatment sector, particularly in North Carolina and surrounding areas. Additionally, Hawkins announced a significant acquisition of WaterSurplus for approximately $150 million after the fiscal year, which is expected to enhance its capabilities in sustainable water treatment solutions.
Operationally, Hawkins reported an employee headcount of 1,035 as of March 30, 2025, with a diverse workforce comprising approximately 45% female or racially and ethnically diverse employees. The company continues to focus on enhancing its operational efficiency and customer engagement, particularly in its Water Treatment segment, which operates out of 50 warehouses across the eastern United States. The company also noted a seasonal increase in sales during the warmer months, particularly from April to September, due to heightened demand for water treatment chemicals.
The filing indicated that Hawkins faced challenges related to raw material pricing and availability, which could impact future profitability. The company utilizes a last-in, first-out (LIFO) inventory valuation method for its Water Treatment and Industrial segments, which can lead to fluctuations in gross profit margins as raw material prices change. Looking ahead, Hawkins expressed optimism about its growth trajectory, supported by its recent acquisitions and ongoing investments in expanding its geographic coverage and product offerings. The company anticipates that these strategic initiatives will position it well for continued growth in the coming fiscal year.
About HAWKINS INC
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