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1.42%
1.81
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Why is Hawkins Inc (HWKN) Stock down?
We've noticed a 8.86% decline in Hawkins Inc (HWKN) stock during the 2024-10-31 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
01 Feb, 2024:
Hawkins Inc (HWKN) stock declined by 7.59% due to its quarterly earnings, which disappointed investors with below-than-expected revenue. Here are the highlights of the report:
- Q3 revenues were $208.5 million, slightly below the Zacks estimate of $221.2 million.
- Industrial segment sales fell by 19% due to various factors, including divestment and reduced volumes.
- Water Treatment segment sales increased by 20%, driven by higher prices and volumes.
- Health and Nutrition segment sales fell by 7%.
- The company had $5.7 million in cash, with long-term debt at $109.8 million.
- Net cash provided by operating activities for nine months ending Dec 31, 2023, was $117.6 million.
- Outlook: Hawkins Inc. expects to maintain free cash flow generation and execute its growth strategy effectively in the final quarter of fiscal 2024. The effective tax rate for the full fiscal year is estimated to be 25-26%.
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