HWKN News & Events

Reports Q3 revenue $244.1M, consensus $252.51M. "Our third quarter performance was highlighted by another quarter of record results in revenue, gross profit, operating income and Adjusted EBITDA. The key drivers were our ongoing acquisition activity within the Water Treatment segment and the continued improvement in our Industrial Solutions segment. From a bottom-line perspective, proforma EPS grew 10% in the quarter over the prior year and Adjusted EBITDA continued to grow," said Patrick Hawkins, CEO and president. "Once again, our performance generated significant cash that we used to pay down debt, fund investments in the business, and close acquisitions as part of our growth strategy for our largest segment, Water Treatment."

Hawkins completed the acquisition of the assets of Redbird Chemical. Redbird distributes chemicals to its customers in eastern Texas within both the water treatment and industrial markets.

Reports Q2 revenue $280.4M, consensus $284.42M. "Our second quarter results were highlighted by all three segments growing for the second consecutive quarter. This was a great achievement that was delivered by our entire team working together. Our growth was again led by Water Treatment, with revenue growth of over 21%, followed by Industrial Solutions growing 11% and Food and Health Sciences growing 2%," said Patrick Hawkins, Chief Executive Officer and President. "Our record second quarter revenue of $280 million and record second quarter adjusted EBITDA of $50.4 million are both a result of our ongoing strategy of investing in high-margin business that drives topline growth and enhances our margins. We continue to generate strong cash flow, which allowed us to reduce our debt level by $20 million during the quarter."

Hawkins has completed the acquisition of StillWaters Technology. StillWaters distributes water treatment chemicals and equipment for its customers in Alabama. "The acquisition of StillWaters Technology helps continue to build out our southern U.S. expansion, by giving us a larger customer base in Alabama. This tuck-in acquisition continues to demonstrate our ability to execute on our strategy to grow our water treatment business and accelerate our growth in the south," said Hawkins Chief Executive Officer, Patrick Hawkins.