HWKN - Why Hawkins Stock Rocketed 11% on Thursday
2023-05-18 18:10:37 ET
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%.
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.
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Why Hawkins Stock Rocketed 11% on Thursday