What happened
Veteran chemical manufacturer Hawkins(NASDAQ: HWKN) had quite a fine Thursday, at least as far as its stock was concerned. Its price leaped almost 11% higher thanks to an encouraging set of quarterly results. That performance blew past that of the S&P 500 index, which crept up a relatively unimpressive 0.9%.
So what
After market close on Wednesday, Hawkins unveiled its latest earnings release. The company's fourth quarter of fiscal 2023 saw it earn just over $228 million in revenue, a figure that was 2% higher year over year and a new all-time high for the company's fourth quarter.
Meanwhile net income under generally accepted accounting principles (GAAP) rose 10% to $11.6 million, or $0.55 per share.
On average, analysts tracking Hawkins stock were modeling a bit over $214 million on the top line, and $0.49 per share for GAAP net income.
During the quarter -- and across all of fiscal 2023 -- Hawkins maintained its focus on the industrial customer segment, which brought in slightly over half of all its annual revenue for that period. Behind that was the water treatment business, responsible for 33% of the take, and health and nutrition with the remaining 17%.
Now what
In the earnings release, Hawkins did not proffer specific guidance. It did say that it aims to grow all three of its business segments.
In the all-important industrial business, management's plan is to push new product development, among other activities. In water treatment, the goal is to add to its current lineup of 39 facilities. And with health and nutrition, it's going to concentrate on developing specialty branded products.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
