Hawkins, Inc. (Nasdaq: HWKN) announced results for its fiscal 2027 second quarter, which ended September 27, 2026. The company reported record revenue, gross profit, diluted earnings per share (EPS), and adjusted EBITDA for the period.
For the quarter, total revenue reached $313.8 million, representing a 12% increase from the prior year. This growth was driven by all three business segments: Water Treatment grew by 16% to $175.0 million, Food & Health Sciences grew by 5% to $76.7 million, and Industrial Solutions grew by 10% to $62.2 million.
Net income for the quarter was $27.8 million, or $1.34 per diluted share, compared to $22.6 million, or $1.08 per share, in the prior year. Gross profit increased 13% to $76.6 million, or 24% of sales. The company reported adjusted EBITDA of $59.1 million, a 16% increase from the prior year.
Regarding cash flow, operating cash flow for the six months ended September 27, 2026, was $75.5 million, an increase of 6%. Free cash flow increased 14% to $53.1 million. During the quarter, Hawkins allocated this cash flow toward repurchasing $18.6 million of stock, paying down $15.0 million of debt, and paying $8.1 million in dividends.
On the balance sheet, total debt outstanding at the end of the second quarter was $229.0 million. The company reported a leverage ratio of 1.22x trailing twelve-month adjusted EBITDA, down from 1.37x at the end of fiscal 2026.
During the quarter, Hawkins closed the acquisition of Dave Symonds & Associates, Inc., a water distributor based in Florida. Subsequent to the quarter end, the company expanded into the Dallas–Fort Worth region with the acquisition of Eagle Labs, Inc., a water treatment distributor with manufacturing capabilities.
