Hawkins (HWKN) Q2 FY2024 earnings: revenue $237 million, down 1.9% on the year

Hawkins Inc. (HWKN) reported revenue of $237 million for Q2 FY2024, the quarter ended 1 October 2023, down 1.9% on the same quarter a year earlier. Net income was $23 million, up 29.0% on the year, and diluted earnings per share $1.10. The figures are the company's own, from the 10-Q it filed with the SEC on 1 November 2023.

Revenue$237 milliondown 1.9%

Net income$23 millionup 29.0%

Diluted EPS$1.10

QuarterQ2 FY2024ended 1 October 2023

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Quarter before	A year earlier	Change on the year
Revenue	237	n/a	n/a	n/a
Cost of revenue	183	n/a	n/a	n/a
Gross profit	53.9	n/a	n/a	n/a
Gross margin	22.8%	n/a	n/a
Selling, general and administrative	20.9	n/a	n/a	n/a
Operating income	33.0	n/a	n/a	n/a
Operating margin	13.9%	n/a	n/a
Income tax	8.8	n/a	n/a	n/a
Net income	23.2	n/a	n/a	n/a
Net margin	9.8%	n/a	n/a
Diluted EPS	$1.10	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Quarter before	A year earlier	Change on the year
Operating cash flow	57.8	n/a	n/a	n/a
Capital expenditure	9.0	n/a	n/a	n/a
Free cash flow	48.7	n/a	n/a	n/a
Free cash flow margin	20.6%	n/a	n/a
Cash from investing	-12.1	n/a	n/a	n/a
Cash from financing	-41.7	n/a	n/a	n/a
Depreciation and amortisation	7.4	n/a	n/a	n/a
Share-based compensation	1.3	n/a	n/a	n/a
Dividends paid	3.4	n/a	n/a	n/a
Dividend per share	$0.16	n/a	n/a	n/a
Diluted shares, weighted	21m	n/a	n/a	n/a
Shares outstanding at period end	21m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Quarter before	A year earlier	Change on the year
Shareholders' equity	383	n/a	n/a	n/a
Debt	60.0	n/a	n/a	n/a
Operating lease liabilities	9.5	n/a	n/a	n/a
Other liabilities	123	n/a	n/a	n/a
Total liabilities and equity	575	n/a	n/a	n/a
Fixed assets	193	n/a	n/a	n/a
Goodwill	77.4	n/a	n/a	n/a
Intangible assets	71.5	n/a	n/a	n/a
Cash and equivalents	11.0	n/a	n/a	n/a
Receivables	125	n/a	n/a	n/a
Inventory	68.5	n/a	n/a	n/a
Other assets	29.3	n/a	n/a	n/a
Total assets	575	n/a	n/a	n/a

Questions

What was Hawkins' revenue in Q2 FY2024?

Hawkins (HWKN) reported revenue of $237 million for Q2 FY2024, the quarter ended 1 October 2023, down 1.9% on the same quarter a year earlier.

How much did Hawkins earn in Q2 FY2024?

Net income for Q2 FY2024 was $23 million, up 29.0% on the year, and diluted earnings per share $1.10.

When did Hawkins report Q2 FY2024 results?

Hawkins filed its 10-Q for the quarter ended 1 October 2023 with the SEC on 1 November 2023.

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	237	208	223	256	247	226	245	293	280	244	266	316
Cost of revenue	183	166	178	191	187	178	193	221	213	193	212	242
Gross profit	53.9	42.2	45.5	64.7	60.2	48.4	52.2	72.4	67.6	50.8	54.2	74.0
Gross margin	23%	20%	20%	25%	24%	21%	21%	25%	24%	21%	20%	23%
SG&A	20.9	23.8	25.4	24.9	26.5	27.4	27.7	31.0	33.7	28.3	30.8	35.3
Operating income	33.0	18.5	20.1	39.8	33.7	21.1	24.6	41.3	33.9	22.6	23.5	38.7
Operating margin	14%	9%	9%	16%	14%	9%	10%	14%	12%	9%	9%	12%
Net income	23.2	14.9	13.8	28.9	24.1	15.0	16.3	29.2	22.6	14.3	15.5	28.3
Net margin	10%	7%	6%	11%	10%	7%	7%	10%	8%	6%	6%	9%
Diluted EPS	$1.10	$0.71	$0.66	$1.38	$1.16	$0.72	$0.78	$1.40	$1.08	$0.69	$0.74	$1.35
Operating cash flow	57.8	25.0	41.9	17.6	41.6	21.0	30.8	31.5	39.5	35.6	37.7	35.2
Capital expenditure	9.0	11.3	11.9	10.6	10.6	8.7	11.1	13.5	10.8	14.3	19.6	11.6
Free cash flow	48.7	13.7	30.0	6.9	31.0	12.3	19.8	17.9	28.7	21.2	18.2	23.5
Buybacks	n/a	n/a	n/a	9.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	3.4	3.4	3.4	3.4	3.8	3.8	3.8	3.8	4.0	4.0	4.0	4.0
Shares outstanding	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 1 October 2023, filed 1 November 2023, accession 0000046250-23-000031: the filing on EDGAR. All of Hawkins Inc.'s filings: EDGAR company page.

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