Hawkins Inc. Files Q2 2024 10-Q Report

TL;DR

Hawkins Inc. 10-Q filed: financial performance details for Q2 2024 now available.

AI Summary

Hawkins Inc. filed its 10-Q for the period ending September 29, 2024, reporting on its financial performance. The company, based in Roseville, MN, operates in the Wholesale-Chemicals & Allied Products sector. Specific financial figures for the quarter and year-to-date are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance data for Hawkins Inc., crucial for making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• HAWKINS INC (company) — Filer of the 10-Q report
• 20240929 (date) — End of the reporting period
• Roseville, MN (location) — Company's business address
• 0000046250 (company) — Central Index Key for Hawkins Inc.

FAQ

Filing Documents

• hwkn-20240929.htm (10-Q) — 827KB
• a10qfy2025q2092924ex101.htm (EX-10.1) — 38KB
• a10qfy2025q2092924ex102.htm (EX-10.2) — 102KB
• a10qfy2025q2092924ex311.htm (EX-31.1) — 10KB
• a10qfy2025q2092924ex312.htm (EX-31.2) — 10KB
• a10qfy2025q2092924ex321.htm (EX-32.1) — 4KB
• a10qfy2025q2092924ex322.htm (EX-32.2) — 4KB
• 0000046250-24-000027.txt ( ) — 4447KB
• hwkn-20240929.xsd (EX-101.SCH) — 27KB
• hwkn-20240929_cal.xml (EX-101.CAL) — 55KB
• hwkn-20240929_def.xml (EX-101.DEF) — 92KB
• hwkn-20240929_lab.xml (EX-101.LAB) — 316KB
• hwkn-20240929_pre.xml (EX-101.PRE) — 228KB
• hwkn-20240929_htm.xml (XML) — 603KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets – September 29 , 2024 and March 31, 2024 1 Condensed Consolidated Statements of Income – Three and Six Months Ended September 29, 2024 and October 1, 2023 2 Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended September 29, 2024 and October 1, 2023 3 Condensed Consolidated Statements of Shareholder's Equity – Three and Six Months Ended September 29, 2024 and October 1, 2023 4 Condensed Consolidated Statements of Cash Flows – Six Months Ended September 29, 2024 and October 1, 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 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) September 29, 2024 March 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 7,526 $ 7,153 Trade accounts receivables, net 115,221 114,477 Inventories 81,565 74,600 Prepaid expenses and other current assets 5,563 6,596 Total current assets 209,875 202,826 PROPERTY, PLANT, AND EQUIPMENT: 402,104 386,648 Less accumulated depreciation 184,642 177,774 Net property, plant, and equipment 217,462 208,874 OTHER ASSETS: Right-of-use assets 12,047 11,713 Goodwill 111,566 103,399 Intangible assets, net of accumulated amortization 123,886 116,626 Deferred compensation plan asset 11,698 9,584 Other 3,163 4,912 Total other assets 262,360 246,234 Total assets $ 689,697 $ 657,934 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable — trade $ 50,956 $ 56,387 Accrued payroll and employee benefits 12,701 19,532 Income tax payable 2,284 1,943 Current portion of long-term debt 9,913 9,913 Environmental remediation 7,700 7,700 Other current liabilities 8,787 7,832 Total current liabilities 92,341 103,307 LONG-TERM DEBT, LESS CURRENT PORTION 93,862 88,818 LONG-TERM LEASE LIABILITY 9,687 9,530 PENSION WITHDRAWAL LIABILITY 3,348 3,538 DEFERRED INCOME TAXES 21,875 22,406 DEFERRED COMPENSATION LIABILITY 13,057 11,764 EARNOUT LIABILITY 11,919 11,235 OTHER LONG-TERM LIABILITIES 236 1,310 Total liabilities 246,325 251,908 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Common stock; authorized: 60,000,000 shares of $ 0.01 par value; 20,766,764 and 20,790,261 shares issued and outstanding as of September 29, 2024 and March 31, 2024, respectively 208 208 Additional paid-in capital 31,060 38,154 Retained earnings 410,425 364,549 Accumulated other comprehensive income 1,679 3,115 Total shareholders' equity 443,372 406,026 Total liabilities and shareholders' equity $ 689,697 $ 657,934 See a

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