Mission Statement, Vision, & Core Values (2024) of Hawkins, Inc. (HWKN)

An Overview of Hawkins, Inc. (HWKN)

General Summary of Hawkins, Inc. (HWKN)

Hawkins, Inc. (HWKN) has a rich history dating back to its founding in 1936. The company specializes in the distribution of chemicals and related products, primarily serving the water treatment, industrial, and health and nutrition markets. Hawkins operates through three main segments: Water Treatment, Industrial, and Health & Nutrition.

As of 2024, Hawkins has reported total sales of $502.9 million for the six months ended September 29, 2024, reflecting a 3% increase from $487.6 million in the same period the previous year. The Water Treatment segment, a key driver of revenue, accounted for $241.7 million of sales, representing a 24% increase year-over-year, largely due to acquisitions and increased demand.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reporting period, Hawkins, Inc. achieved record-breaking performance, particularly in its Water Treatment segment. For the three months ended September 29, 2024, the company reported:

• Total sales of $247.0 million, a 4% increase from $236.5 million in the same quarter the previous year.
• Water Treatment segment sales at $124.5 million, a rise of 23% from $100.9 million year-over-year.
• Industrial segment sales totaling $89.9 million, a decrease of 9% from $98.5 million.
• Health & Nutrition segment sales of $32.6 million, down 12% from $37.1 million.

Gross profit for the six months ended September 29, 2024, increased to $124.9 million, or 25% of sales, compared to $105.9 million, or 22% of sales, in the same period the prior year.

Operating income also saw a notable increase, rising to $73.5 million, or 15% of sales, compared to $65.5 million, or 13% of sales, in the previous year.

The net income for the six months ended September 29, 2024, was $52.997 million, compared to $46.646 million for the same period in the prior year.

Introduction to Hawkins, Inc. as a Leader in the Industry

Hawkins, Inc. has established itself as a leader in the chemical distribution industry, particularly in water treatment solutions. The company's strategic acquisitions, such as the recent purchase of Waterguard, Inc. for $18 million, have further solidified its market position.

With a strong focus on innovation and customer service, Hawkins continues to enhance its product offerings and expand its market reach. The company’s commitment to operational excellence and adaptability in a changing market landscape positions it well for future growth. Investors and stakeholders are encouraged to explore more about Hawkins, Inc. to understand the drivers behind its ongoing success and industry leadership.

Mission Statement of Hawkins, Inc. (HWKN)

Company's Mission Statement

The mission statement of Hawkins, Inc. (HWKN) articulates the company's commitment to providing high-quality products and services while ensuring customer satisfaction and operational excellence. This statement serves as a guiding principle for the organization's strategic direction and decision-making processes. As of 2024, Hawkins, Inc. emphasizes its dedication to sustainability, innovation, and community engagement as core aspects of its mission.

Core Component 1: High-Quality Products

Hawkins, Inc. is dedicated to delivering products that meet rigorous quality standards. In the six months ended September 29, 2024, the company reported sales of $502.9 million, reflecting a 3% increase from $487.6 million in the same period a year ago. The Water Treatment segment alone saw a significant increase of $47.1 million, or 24%, reaching $241.7 million. This growth illustrates Hawkins' commitment to providing high-quality solutions that not only fulfill customer needs but also enhance operational performance.

Core Component 2: Customer Satisfaction

Customer satisfaction is central to Hawkins, Inc.'s mission. The company's strategic initiatives focus on understanding and meeting customer expectations. The effective income tax rate for the six months ended September 29, 2024, was 26%, demonstrating efficient management of resources that ultimately benefits stakeholders. Furthermore, Hawkins' commitment to customer service is reflected in the operational improvements that led to an increase in gross profit to $124.9 million, or 25% of sales, compared to 22% in the same period last year.

Core Component 3: Operational Excellence

Operational excellence is a key pillar of Hawkins, Inc.'s mission. The company's operating income rose to $73.5 million, or 15% of sales, for the six months ended September 29, 2024, compared to $65.5 million, or 13% of sales, in the same period a year ago. This improvement is attributed to enhanced efficiencies across all segments, particularly within the Industrial segment, which saw gross profit increase to $40.1 million, or 21% of sales. Additionally, Hawkins' recent acquisitions, such as Intercoastal and Wofford, have contributed to its operational capabilities and market reach, with acquisition spending amounting to $25.4 million in the first half of fiscal 2025.

Vision Statement of Hawkins, Inc. (HWKN)

Vision Statement of Hawkins, Inc. (HWKN)

The vision statement of Hawkins, Inc. (HWKN) focuses on providing innovative solutions in the chemical distribution industry while emphasizing sustainability and customer satisfaction. This vision is articulated through key components that drive the company's strategic objectives.

Commitment to Innovation

Hawkins, Inc. envisions becoming a leader in the chemical industry by consistently delivering innovative products and services. In the six months ended September 29, 2024, Hawkins reported sales of $502.9 million, reflecting a 3% increase from $487.6 million in the same period the previous year. This growth is attributed to the company's focus on enhancing its product offerings and investing in research and development.

Sustainability Initiatives

Hawkins, Inc. aims to lead the industry in sustainable practices. The company’s strategic vision includes reducing its environmental footprint and enhancing operational efficiency. In fiscal 2024, Hawkins recorded a liability of $7.7 million for estimated remediation expenses associated with environmental concerns at its facility in Rosemount, MN. This highlights the company's commitment to addressing environmental challenges proactively.

Customer-Centric Approach

The vision statement emphasizes a strong focus on customer satisfaction and building long-term relationships. Hawkins, Inc. reported a net income of $52.997 million for the six months ended September 29, 2024, up from $46.646 million in the prior year. This increase is indicative of the company's efforts to meet customer needs effectively.

Strategic Growth through Acquisitions

The vision of Hawkins, Inc. includes strategic growth through acquisitions to expand its market presence. In the first half of fiscal 2025, Hawkins acquired Intercoastal for $22 million and Wofford for $3.4 million, contributing to a total acquisition spending of $25.4 million. These acquisitions are part of the company's broader strategy to enhance its operational capabilities and market reach.

Operational Excellence

Hawkins, Inc. focuses on operational excellence to drive profitability and efficiency. The company's operating income increased by 12% to $73.536 million for the six months ended September 29, 2024, compared to $65.478 million for the same period a year ago. This improvement underscores Hawkins' commitment to optimizing its operations.

Core Values of Hawkins, Inc. (HWKN)

Integrity

Integrity is a core value at Hawkins, Inc. (HWKN), emphasizing the importance of honesty and ethical conduct in all business dealings. Upholding integrity ensures trust among employees, customers, and stakeholders.

In 2024, Hawkins demonstrated its commitment to integrity through transparent financial reporting and adherence to regulatory standards. The company reported a net income of $52.997 million for the six months ended September 29, 2024, compared to $46.646 million for the same period in 2023. This transparency reinforces stakeholders' confidence in the company's financial practices.

Safety

Safety is paramount in Hawkins’ operations, reflecting the company’s dedication to protecting its employees and customers. Hawkins has implemented rigorous safety protocols across its facilities.

In 2024, Hawkins invested approximately $21.3 million in capital expenditures aimed at enhancing safety measures and facility improvements. The company’s focus on safety is evident in its training programs and safety audits, which are designed to minimize workplace incidents and ensure compliance with Occupational Safety and Health Administration (OSHA) standards.

Customer Focus

Customer focus is integral to Hawkins' mission, driving the company to deliver high-quality products and services tailored to meet client needs. This value is reflected in their continuous improvement efforts and customer feedback mechanisms.

For the six months ended September 29, 2024, Hawkins generated sales of $502.9 million, marking a 3% increase from $487.6 million in the same period the previous year. This growth was largely attributed to increased sales in the Water Treatment segment, which saw a 24% rise to $241.7 million. Such performance demonstrates Hawkins’ commitment to understanding and serving its customers effectively.

Innovation

Innovation is a driving force at Hawkins, fostering a culture of continuous improvement and adaptation to market changes. The company invests in research and development to enhance its product offerings and operational efficiency.

In 2024, Hawkins completed acquisitions amounting to $25.4 million, including Intercoastal and Wofford, which are expected to bolster its innovation capabilities. Furthermore, the company’s gross profit increased by 18% to $124.9 million for the six months ending September 29, 2024, highlighting the positive impact of innovative practices on financial performance.

Teamwork

Teamwork is fundamental to Hawkins’ success, promoting collaboration and mutual support among employees to achieve common goals. This value is essential for fostering a positive workplace culture.

In 2024, Hawkins emphasized teamwork through its employee engagement initiatives, which saw a rise in participation in team-building activities. The company’s effective teamwork strategies contributed to operational efficiencies, as evidenced by a 12% increase in gross profit margin from the previous year.

Article updated on 8 Nov 2024

Resources:

• Hawkins, Inc. (HWKN) Financial Statements – Access the full quarterly financial statements for Q2 2025 to get an in-depth view of Hawkins, Inc. (HWKN)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Hawkins, Inc. (HWKN)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.