The Big Bang: Hawkins, Inc’s HWKN shares have burst like a supernova, skyrocketing an impressive 27.2% over the last half-year. While many juggernauts trudged along, Hawkins sprinted ahead, leaving the chemical specialty industry’s rise of 23.9% and the S&P 500’s modest 17.6% surge in the dust.
Image Source: Zacks Investment Research
The Driving Forces Behind the Stellar Performance
Hawkins witnessed an explosive surge in its Water Treatment arm during the third quarter of fiscal 2024, with sales soaring by a breathtaking 20% year-over-year, hitting a crescendo at $82 million. Such remarkable growth was fueled by a concoction of increased volumes and higher selling prices across multiple product lines.
In a strategic chess move to dominate the water treatment domain, Hawkins acquired Industrial Research Corporation. This company, based in central and northern Louisiana, eastern Texas, and southern Arkansas, is a vital player in water treatment chemicals and equipment. With this acquisition, Hawkins strategically positions itself to capitalize on growth opportunities in these regions.
Building on the rhythm, Hawkins is marching forward with a symphony of value creation. The company cherishes the deep-rooted relationships Industrial Research has nurtured in the community and aims to nurture and elevate them further. With unrelenting confidence in its diverse business portfolio, Hawkins foresees the continued harmony of cash flow and the smooth execution of its growth strategies.
Harmonizing its financial notes, Hawkins hit a high note in the third quarter of fiscal 2024, reporting earnings of 71 cents per share – outstripping the Zacks Consensus Estimate of 61 cents. With this impressive performance, Hawkins has conducted a symphony of earnings surprises over the past four quarters, showcasing a stunning average surprise of 30.6%.
The Zacks Consensus Estimate for fiscal 2024 earnings crescendos at $3.61, signaling a sonorous year-over-year growth of 26.2%. A harmonious crescendo has been noted, with a 4.3% upward movement in the consensus estimate for the current fiscal year in the past 60 days.
The Melody of Hawkins, Inc. Price and Consensus
Hawkins, Inc. price-consensus-chart | Hawkins, Inc. Quote
The Beat Goes On: Zacks Rank & Other Key Picks
Riding on a crescendo of success, Hawkins currently holds a Zacks Rank #2 (Buy).
Amidst the whirling storm of success, there are other stars in the Basic Materials constellation. Carpenter Technology Corporation CRS illuminates as a Zacks Rank #1 (Strong Buy), while Ecolab Inc. ECL and Innospec Inc. IOSP shine bright, both carrying a Zacks Rank #2. The constellations align in your favor, presenting an orchestra of potential.
