Hawkins Inc. Files Q3 FY25 10-Q Report

TL;DR

Hawkins Inc. 10-Q filed for Q3 FY25. Financials and ops details inside.

AI Summary

Hawkins Inc. filed its 10-Q for the period ending December 29, 2024. The filing covers the third quarter of fiscal year 2025. Key financial data and business operations for this period are detailed within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Hawkins Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks indicated in the provided snippet.

Key Players & Entities

• HAWKINS INC (company) — Filer of the 10-Q report
• 20241229 (date) — End of the reporting period
• 20250129 (date) — Date the report was filed
• ROSEVILLE, MN (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $2.4 million — er one year, $ 7.2 million to goodwill, $2.4 million was allocated to property, plant and eq

Filing Documents

• hwkn-20241229.htm (10-Q) — 885KB
• a10qfy2025q3122924ex311.htm (EX-31.1) — 10KB
• a10qfy2025q3122924ex312.htm (EX-31.2) — 10KB
• a10qfy2025q3122924ex321.htm (EX-32.1) — 4KB
• a10qfy2025q3122924ex322.htm (EX-32.2) — 4KB
• 0000046250-25-000004.txt ( ) — 4343KB
• hwkn-20241229.xsd (EX-101.SCH) — 26KB
• hwkn-20241229_cal.xml (EX-101.CAL) — 55KB
• hwkn-20241229_def.xml (EX-101.DEF) — 87KB
• hwkn-20241229_lab.xml (EX-101.LAB) — 313KB
• hwkn-20241229_pre.xml (EX-101.PRE) — 222KB
• hwkn-20241229_htm.xml (XML) — 623KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets – Dec ember 29, 2024 and March 31, 2024 1 Condensed Consolidated Statements of Income – Three and Nine Months Ended Dec ember 29, 2024 and December 3 1, 2023 2 Condensed Consolidated Statements of Comprehensive Income – Three and Nine Months Ended Dec ember 29, 2024 and December 3 1, 2023 3 Condensed Consolidated Statements of Shareholder's Equity – Three and Nin e Months Ended Dec ember 29, 2024 and December 3 1, 2023 4 Condensed Consolidated Statements of Cash Flows – Nine Months Ended Dec ember 29, 2024 and December 3 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 15

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 17

Controls and Procedures

Item 4. Controls and Procedures 17

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 18

Risk Factors

Item 1A. Risk Factors 18

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 18

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 18

Other Information

Item 5. Other Information 18

Exhibits

Item 6. Exhibits 19 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 29, 2024 March 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 8,305 $ 7,153 Trade accounts receivables, net 111,521 114,477 Inventories 81,634 74,600 Prepaid expenses and other current assets 8,895 6,596 Total current assets 210,355 202,826 PROPERTY, PLANT, AND EQUIPMENT: 410,427 386,648 Less accumulated depreciation 189,984 177,774 Net property, plant, and equipment 220,443 208,874 OTHER ASSETS: Right-of-use assets 13,096 11,713 Goodwill 116,738 103,399 Intangible assets, net of accumulated amortization 130,474 116,626 Deferred compensation plan asset 11,892 9,584 Other 4,242 4,912 Total other assets 276,442 246,234 Total assets $ 707,240 $ 657,934 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable — trade $ 39,891 $ 56,387 Accrued payroll and employee benefits 18,371 19,532 Income tax payable — 1,943 Current portion of long-term debt 9,913 9,913 Environmental remediation 7,700 7,700 Other current liabilities 8,379 7,832 Total current liabilities 84,254 103,307 LONG-TERM LIABILITIES: Long-term debt, less current portion 103,884 88,818 Long-term lease liability 10,613 9,530 Pension withdrawal liability 3,252 3,538 Deferred income taxes 22,120 22,406 Deferred compensation liability 13,413 11,764 Earnout liability 12,262 11,235 Other long-term liabilities 461 1,310 Total long-term liabilities 166,005 148,601 Total liabilities 250,259 251,908 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 December 29, 2024 and March 31, 2024, respectively 208 208 Additional paid-in capital 32,783 38,154 Retained earnings 421,682 364,549 Accumulated other comprehensive income 2,308 3,115 Total shareholders' equity 456,981 406,026 Total

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