Highlights

  • Sales for the three months ended September 27, 2026 were $313.8 million, against $280.4 million a year earlier.
  • Net income was $27,781 thousand, or $1.34 per diluted share, against $22,598 thousand, or $1.08, a year earlier.
  • Hawkins acquired the assets of Eagle Labs, Inc. for approximately $14.0 million on September 29, 2026, after quarter end.
  • Six month operating cash flow was $75.5 million, and the company repurchased $18.6 million of common stock.

Hawkins, Inc. (NASDAQ: HWKN) shares were trading at USD 150.83 on October 27, 2026, up 11.36%, with a relative volume at time of 6.71. The chemical and ingredient supplier acquired Dave Symonds & Associates on September 1, 2026, acquired Eagle Labs on September 29, 2026, and filed its Form 10-Q for the fiscal second quarter ended September 27, 2026 on October 26, 2026.

Hawkins is incorporated in Minnesota and lists its principal executive offices at 2381 Rosegate in Roseville, Minnesota. The company sells water treatment, specialty ingredients and chemistry products, and equipment, to customers in a wide variety of industries. It reports three segments: Water Treatment, Food & Health Sciences, and Industrial Solutions. Its fiscal 2026 ended March 29, 2026, and fiscal 2027 ends March 28, 2027. The 10-Q does not disclose a headcount.

Second Quarter Results

Hawkins reported sales of $313.8 million for the three months ended September 27, 2026, an increase of $33.4 million from $280.4 million a year earlier. The company stated that sales reflected 11% organic growth and approximately $3.7 million of sales from acquired businesses.

Water Treatment segment sales were $175.0 million, Food & Health Sciences sales were $76.7 million, and Industrial Solutions sales were $62.2 million.

Gross profit was $76.6 million, compared with $67.6 million. The company said the LIFO reserve increased and reduced gross profit by $1.9 million in the quarter, compared with $0.3 million a year earlier, and that $1.3 million of refunds of previously paid tariffs were recorded as a reduction of cost of sales. Food & Health Sciences gross profit decreased $0.6 million to $14.9 million.

Operating income was $41.9 million, compared with $33.9 million. Net interest expense was $2.6 million, compared with $3.8 million, and the company said $50.0 million in net debt repayments since the second quarter of fiscal 2026 lowered it. Net income was $27,781 thousand, or $1.34 per diluted share.

For the six months ended September 27, 2026, sales were $629.5 million and net income was $56,035 thousand, or $2.69 per diluted share, compared with $51,773 thousand, or $2.48 per diluted share, for the same period a year earlier.

Balance Sheet, Cash Flow and Capital

Cash was $7.1 million at September 27, 2026, compared with $3.9 million at March 29, 2026. Long-term debt was $229,000 thousand, compared with $244,000 thousand.

For the six months, cash provided by operating activities was $75.5 million and cash used in investing activities was $27.0 million, including capital expenditures of $22.4 million. Cash used in financing activities was $45.3 million, including $15.0 million of net debt payments and $18.6 million of common stock repurchases. The company repurchased 132,577 shares, and 598,967 shares remained available under a program authorizing up to 2.6 million shares. Cash dividends declared were $0.20 per share for the quarter.

Hawkins has a $400.0 million senior secured revolving credit facility maturing April 25, 2030. The company stated that it was in compliance with all covenants at September 27, 2026 and expects to remain in compliance for the next 12 months.

Acquisitions and Outlook

On April 30, 2026, Hawkins acquired Aqua-Chem, Inc. for approximately $3.6 million. On September 1, 2026, it acquired Dave Symonds & Associates, Inc. for approximately $1.6 million. On September 29, 2026, it acquired Eagle Labs, Inc., a Texas water treatment distributor with in-house manufacturing capabilities, for approximately $14.0 million.

The filing contains no sales or earnings guidance. It states that the effective tax rate for the full year is expected to be approximately 25% to 27%. Management expects cash balances, credit facility funds and operating cash flows to fund the cash requirements of ongoing operations for the foreseeable future.