Hawkins Inc. Files 10-Q for Period Ending June 30, 2024

TL;DR

Hawkins Inc. 10-Q filed. Financials for Q2 2024 out.

AI Summary

Hawkins Inc. reported its 10-Q filing for the period ending June 30, 2024. The company's fiscal year ends on March 28. The filing details financial information for the quarter and year-to-date, including balance sheet and income statement data.

Why It Matters

This filing provides investors with the latest financial performance and position of Hawkins Inc., crucial for making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 20240630 — Period End Date (Financial reporting period)
• 20240731 — Filing Date (Date the report was submitted)

Key Players & Entities

• HAWKINS INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240731 (date) — Filed as of Date
• 0000046250 (company) — Central Index Key
• 55113 (location) — ZIP Code

FAQ

Filing Documents

• hwkn-20240630.htm (10-Q) — 652KB
• a10qfy2025q1063024ex311.htm (EX-31.1) — 10KB
• a10qfy2025q1063024ex312.htm (EX-31.2) — 10KB
• a10qfy2025q1063024ex321.htm (EX-32.1) — 4KB
• a10qfy2025q1063024ex322.htm (EX-32.2) — 4KB
• 0000046250-24-000021.txt ( ) — 3756KB
• hwkn-20240630.xsd (EX-101.SCH) — 26KB
• hwkn-20240630_cal.xml (EX-101.CAL) — 55KB
• hwkn-20240630_def.xml (EX-101.DEF) — 85KB
• hwkn-20240630_lab.xml (EX-101.LAB) — 308KB
• hwkn-20240630_pre.xml (EX-101.PRE) — 219KB
• hwkn-20240630_htm.xml (XML) — 451KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets – June 30, 2024 and March 31 , 202 4 1 Condensed Consolidated Statements of Income – Three Months Ended June 3 0 , 202 4 and J uly 2 , 2023 2 Condensed Consolidated Statements of Comprehensive Income – Three Months Ended June 3 0 , 202 4 and J uly 2 , 2023 3 Condensed Consolidated Statements of Shareholder's Equity – Three Months Ended June 3 0 , 202 4 and J uly 2 , 2023 4 Condensed Consolidated Statements of Cash Flows – Three Months Ended June 3 0 , 202 4 and J uly 2 , 2023 5 Notes to Condensed Consolidated Financial Statements 6

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 13

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 15

Controls and Procedures

Item 4. Controls and Procedures 15

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 16

Risk Factors

Item 1A. Risk Factors 16

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 16

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 16

Other Information

Item 5. Other Information 16

Exhibits

Item 6. Exhibits 17 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) June 30, 2024 March 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 8,887 $ 7,153 Trade accounts receivables, net 126,398 114,477 Inventories 81,199 74,600 Prepaid expenses and other current assets 5,503 6,596 Total current assets 221,987 202,826 PROPERTY, PLANT, AND EQUIPMENT: 396,244 386,648 Less accumulated depreciation 182,604 177,774 Net property, plant, and equipment 213,640 208,874 OTHER ASSETS: Right-of-use assets 12,157 11,713 Goodwill 114,046 103,399 Intangible assets, net of accumulated amortization 124,563 116,626 Deferred compensation plan asset 11,365 9,584 Other 4,980 4,912 Total other assets 267,111 246,234 Total assets $ 702,738 $ 657,934 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable — trade $ 47,795 $ 56,387 Accrued payroll and employee benefits 12,501 19,532 Income tax payable 11,751 1,943 Current portion of long-term debt 9,913 9,913 Environmental remediation 7,700 7,700 Other current liabilities 8,332 7,832 Total current liabilities 97,992 103,307 LONG-TERM DEBT, LESS CURRENT PORTION 123,840 88,818 LONG-TERM LEASE LIABILITY 9,816 9,530 PENSION WITHDRAWAL LIABILITY 3,443 3,538 DEFERRED INCOME TAXES 22,367 22,406 DEFERRED COMPENSATION LIABILITY 12,244 11,764 EARNOUT LIABILITY 11,577 11,235 OTHER LONG-TERM LIABILITIES 241 1,310 Total liabilities 281,520 251,908 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Common stock; authorized: 60,000,000 shares of $ 0.01 par value; 20,734,331 and 20,790,261 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 207 208 Additional paid-in capital 27,932 38,154 Retained earnings 390,070 364,549 Accumulated other comprehensive income 3,009 3,115 Total shareholders' equity 421,218 406,026 Total liabilities and shareholders' equity $ 702,738 $ 657,934 See accompany

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