Hawkins Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Hawkins Inc. has filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing its financial performance and position.</b>

AI Summary

HAWKINS INC (HWKN) filed a Quarterly Report (10-Q) with the SEC on January 31, 2024. Hawkins Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the period from October 2, 2023, to December 31, 2023. The company's fiscal year end is March 28. Hawkins Inc. is incorporated in Minnesota. The company's SIC code is 5160 (Wholesale-Chemicals & Allied Products).

Why It Matters

For investors and stakeholders tracking HAWKINS INC, this filing contains several important signals. This filing provides investors with an update on Hawkins Inc.'s financial health and operational performance during the third quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing the company's current financial standing, identifying trends, and making informed investment decisions.

Risk Assessment

Risk Level: low — HAWKINS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 20231231 — Period End Date (Conformed period of report)
• 20240131 — Filing Date (Filed as of date)
• 0328 — Fiscal Year End (Company fiscal year end)
• 5160 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• HAWKINS INC (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240131 (date) — Filed as of date
• 0000046250 (company) — Central Index Key
• 5160 (industry_code) — Standard Industrial Classification
• MN (location) — State of incorporation
• 0328 (date) — Fiscal year end
• 1934 Act (regulation) — SEC Act

FAQ

Industry Context

Hawkins Inc. operates in the wholesale chemicals and allied products sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Check for any new risk factors or significant changes in existing ones.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter
• 2024-01-31: Filing Date — Date the 10-Q was filed with the SEC

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023. Previous filings would include the 10-Q for the period ending September 30, 2023, and the 10-K annual report.

Filing Documents

• hwkn-20231231.htm (10-Q) — 867KB
• a10qfy2024q3123123ex311.htm (EX-31.1) — 10KB
• a10qfy2024q3123123ex312.htm (EX-31.2) — 10KB
• a10qfy2024q3123123ex321.htm (EX-32.1) — 4KB
• a10qfy2024q3123123ex322.htm (EX-32.2) — 4KB
• 0000046250-24-000004.txt (&nbsp;) — 4158KB
• hwkn-20231231.xsd (EX-101.SCH) — 24KB
• hwkn-20231231_cal.xml (EX-101.CAL) — 53KB
• hwkn-20231231_def.xml (EX-101.DEF) — 84KB
• hwkn-20231231_lab.xml (EX-101.LAB) — 327KB
• hwkn-20231231_pre.xml (EX-101.PRE) — 214KB
• hwkn-20231231_htm.xml (XML) — 599KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets – December 3 1, 2023 and April 2, 2023 1 Condensed Consolidated Statements of Income – Three and Nine Months Ended December 3 1, 2023 and January 1 , 20 23 2 Condensed Consolidated Statements of Comprehensive Income – Three and Nine Months Ended December 31, 2023 and January 1, 2023 3 Condensed Consolidated Statements of Shareholder's Equity – Three and Nine Months Ended December 31, 2023 and January 1, 2023 4 Condensed Consolidated Statements of Cash Flows – Nine Months Ended December 31, 2023 and January 1, 2023 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 16

Controls and Procedures

Item 4. Controls and Procedures 16

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 17

Risk Factors

Item 1A. Risk Factors 17

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 17

Other Information

Item 5. Other Information 17

Exhibits

Item 6. Exhibits 18 i

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS HAWKINS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except share data) December 31, 2023 April 2, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 5,741 $ 7,566 Trade accounts receivables, net 113,016 129,252 Inventories 68,805 88,777 Prepaid expenses and other current assets 7,442 6,449 Total current assets 195,004 232,044 PROPERTY, PLANT, AND EQUIPMENT: 376,952 344,753 Less accumulated depreciation 173,457 158,950 Net property, plant, and equipment 203,495 185,803 OTHER ASSETS: Right-of-use assets 13,400 10,199 Goodwill 101,495 77,401 Intangible assets, net of accumulated amortization 116,728 73,060 Deferred compensation plan asset 9,617 7,367 Other 4,308 4,661 Total other assets 245,548 172,688 Total assets $ 644,047 $ 590,535 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable — trade $ 42,857 $ 53,705 Accrued payroll and employee benefits 17,753 17,279 Income tax payable 1,504 3,329 Current portion of long-term debt 9,913 9,913 Other current liabilities 7,651 6,645 Total current liabilities 79,678 90,871 LONG-TERM DEBT, LESS CURRENT PORTION 109,797 101,731 LONG-TERM LEASE LIABILITY 11,107 8,687 PENSION WITHDRAWAL LIABILITY 3,633 3,912 DEFERRED INCOME TAXES 23,698 23,800 DEFERRED COMPENSATION LIABILITY 11,437 9,343 OTHER LONG-TERM LIABILITIES 10,943 2,175 Total liabilities 250,293 240,519 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Common stock; authorized: 60,000,000 shares of $ 0.01 par value; 20,790,292 and 20,850,454 shares issued and outstanding as of December 31, 2023 and April 2, 2023, respectively 208 209 Additional paid-in capital 36,781 44,443 Retained earnings 354,069 302,424 Accumulated other comprehensive income 2,696 2,940 Total shareholders' equity 393,754 350,016 Total liabilities and shareholders' equity $ 644,047 $ 590,535 See accompanying notes to condensed consolidated financial statements. 1 HAWK

View Full Filing

View this 10-Q filing on SEC EDGAR