Hawkins, Inc. Reports Record Q3 Results Amid Strategic Acquisitions
Hawkins, Inc. has announced its strongest-ever third-quarter results for fiscal 2026. The company reported record figures across revenue, gross profit, operating income and adjusted EBITDA. Growth was driven by acquisitions and strong performance in key business segments.
Revenue climbed by 8% compared to the same period last year, reaching new highs. The Water Treatment segment led with 21% growth, while the Industrial Solutions segment expanded by 10%. CEO Patrick H. Hawkins credited the gains to recent acquisitions in water treatment and improvements in industrial operations.
Gross profit rose by 5%, and adjusted EBITDA reached $34.8 million—a 3% year-on-year increase. Over the past 12 months, adjusted EBITDA totalled $179 million. Operating cash flow hit $35 million for the quarter, with $15 million used to reduce debt, pushing the leverage ratio below 1.5x adjusted EBITDA.
The company completed its sixth acquisition of the fiscal year with the purchase of Redbird Chemical. Hawkins also finalised the acquisition of WaterSurplus, which is expected to boost earnings in fiscal 2027. However, diluted earnings per share fell by 4%, mainly due to higher amortisation and interest costs from recent deals.
Looking ahead, Hawkins aims to revive growth in its Food and Health Sciences segment. The goal is to return to historical organic revenue growth rates by fiscal 2027.
Hawkins closed the quarter with record financial performance and a strengthened balance sheet. The company's focus now shifts to integrating recent acquisitions and restoring growth in underperforming segments. Analysts will watch for further progress in the next financial update.
