Hawkins, Inc. · NASDAQ:HWKN

Hawkins — Q3 2026 Earnings Presentation

46 slides from Hawkins's earnings presentation, January 2026

Slide 1: Investor Presentation Fiscal 2026 Q3
INVESTOR PRESENTATION FISCAL 2026 Q3 Published: January 2026 © 2026 Hawkins, Inc. 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS The information contained in this presentation includes “forward-looking statements” which reflect management’s expectations or beliefs as of the date of this presentation. Hawkins, Inc. cautions that actual future results could differ materially from the forward-looking s
Slide 4: Hawkins, Inc. at a Glance
HAWKINS, INC. AT A GLANCE $974.4 Million 2025 REVENUE 25% EPS HWKN NASDAQ 5-YEAR CAGR 1,100 EMPLOYEES Dividend SINCE 1985 1.6x DEBT TO EBITDA © 2026 Hawkins, Inc. 4
Slide 5: Reporting Segments – FY25 Revenue and Markets Served
REPORTING SEGMENTS – FY25 REVENUE AND MARKETS SERVED WATER TREATMENT FOOD & HEALTH SCIENCES INDUSTRIAL SOLUTIONS 46% $446.5M 33% $322.5M 21% $205.4M  Municipal Drinking Water  Nutrition  Manufacturing  Municipal Wastewater  Pharmaceuticals  Surface Finishing  Industrial Wastewater  Food Ingr
Slide 6: Mission, Promise and Core Values
MISSION, PROMISE AND CORE VALUES OUR MISSION OUR PROMISE TO SUPPLY QUALITY PRODUCTS AND INNOVATIVE TO RESPOND QUICKLY TO CHANGING CUSTOMER NEEDS SOLUTIONS WITH EXCEPTIONAL SERVICE. WITH A FOCUS ON SAFETY, TECHNICAL EXPERTISE, AND RESPONSIBLE CARE OF THE ENVIRONMENT AND OF OUR COMMUNITY. CORE VALUES
Slide 7: Expanding National Footprint
EXPANDING NATIONAL FOOTPRINT 65 Locations  53 Branch Locations  10 Manufacturing Sites  2 Main Office Locations  Over 2 Million Square Feet of Manufacturing and Warehouse Space  5 Locations with Rail and Barge access  Rail Access at 9 Additional Locations © 2026 Hawkins, Inc. 7
Slide 8: Commodities Turned into Value Added Products
COMMODITIES TURNED INTO VALUE ADDED PRODUCTS Sodium Hydroxide Chlorine Potassium Hydroxide Lactic Acid Citric Acid Acetic Acid Permanganate Nitric acid Vinegar COMMODITIES Sulfuric Acid Phosphoric Acid Phosphate Salts Ferric Chloride Hydrochloric Acid Urea Aluminum Ammonium Hydroxide FORMULATED Sodi
Slide 9: Building Business on Relationships and Solutions
BUILDING BUSINESS ON RELATIONSHIPS AND SOLUTIONS © 2026 Hawkins, Inc. 9
Slide 10: Product Manufacturing Shared Across Business Units
PRODUCT MANUFACTURING SHARED ACROSS BUSINESS UNITS © 2026 Hawkins, Inc. 10
Slide 11: Strong Track Record of Accretive Acquisitions
STRONG TRACK RECORD OF ACCRETIVE ACQUISITIONS Miami Products WaterSurplus Hendrickson Stauber NAPCO Chemical Co. Water Solutions Enterprises Amerochem American Development Corporation EcoTech Enterprises Adv. Chemical Solutions PhillTech LLC Vertex Chemical Industrial Research Corp. Davis Supply C&L
Slide 12: Consistent Return of Capital to Shareholders
CONSISTENT RETURN OF CAPITAL TO SHAREHOLDERS DIVIDENDS & SHARE REPURCHASES (IN MILLIONS) 40.0 35.0 Dividends Share Repurchases 0.7% 30.0 25.0 $20.7 DIVIDEND YIELD 20.0 $11.3 15.0 10.0 $5.9 $4.1 $8.5 $6.6 40 $11.1 $12.0 $13.2 $14.6 5.0 $9.8 $10.0 - CONSECUTIVE YEARS OF FY2020 FY2021 FY2022 FY2023 FY2
Slide 13: Stock Performance
STOCK PERFORMANCE 800 Hawkins, Inc. 700 600 500 400 300 200 100 0 2020 2021 2022 2023 2024 2025 Hawkins, Inc. Nasdaq Composite Index S&P Small Cap 600 Index Nasdaq Industrial Index Russell 2000 Index This graph compares the cumulative total shareholder return on our common shares with the cumulative
Slide 14: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES OPERATING CASH FLOW (IN $ MILLIONS) 180.0 - Invest in the business 160.0 - Pay dividends 140.0 120.0 - Opportunistic acquisitions 100.0 - Repurchase shares 80.0 $159.5 to offset dilution 60.0 $111.1 40.0 - Paydown debt 20.0 $43.8 $42.8 $77.4 - FY2021 FY2022 FY2023 FY202
Slide 15: Environmental, Social, and Governance
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE  Environmental - Products we sell generally can be neutralized to a safe pH balance, reducing their impact on the environment - Many of our products can be used to help our customers improve efficiencies and reduce emissions  Social - Supply the products that
Slide 17: Value Proposition
VALUE PROPOSITION  Intense focus on quality and customer service  Technical expertise  Broad product line with the ability to custom formulate  Extensive infrastructure and inventory to ensure supply chain security - 65 locations to serve our customers - ~25M gallons of tank capacity to meet our
Slide 18: Growth Strategy
GROWTH STRATEGY  Add new Water Treatment facilities annually, mainly through acquisitions  Expand our specialty and value-added services - Customer formulation - Technical and quality - Sales  Bolster and improve our extensive supplier base  Invest in higher margin/growth production capabilities
Slide 19: People & Culture Matter
PEOPLE & CULTURE MATTER  Strong Supplier Relationships  Long-Term Customers - Strong partnerships with key - Strong, long-term relationships suppliers including: - Deliveries 365 days/year o Caustic Soda o Hydrochloric Acid  Local Community Involvement o Phosphates - Products and dollars to o Spe
Slide 21: Fiscal 2020-2025 Financials
FISCAL 2020-2025 FINANCIALS IN MILLIONS, EXCEPT PER SHARE DATA SALES GROSS PROFIT NET INCOME $84.3 13% CAGR 17% CAGR 24% CAGR $75.4 $225.5 $60.0 $193.6 $51.5 $165.1 $935.1 $919.2 $974.4 $146.5 $41.0 $774.5 $123.8 $540.2 $596.9 $100.9 $28.4 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2020 FY 2
Slide 22: Fiscal 2026 Third Quarter Financials
FISCAL 2026 THIRD QUARTER FINANCIALS REVENUE 31st CONSECUTIVE QUARTER ($ Million) DILUTED EPS OF YEAR-OVER-YEAR OPERATING INCOME GROWTH $226.2 $244.1 $0.72 $0.69 - Record third quarter revenue of $244.1M o Growth of 8% over the prior year Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 - Quarterly Diluted Earnings
Slide 23: Fiscal 2026 Third Quarter Year-to-Date Financials
FISCAL 2026 THIRD QUARTER YEAR-TO-DATE FINANCIALS REVENUE DOUBLE-DIGIT YEAR-OVER-YEAR GROWTH IN KEY ($ Million) DILUTED EPS MEASURES, INCLUDING REVENUE, GROSS PROFIT, AND ADJUSTED EBITDA $817.8 $729.1 $3.25 $3.17 - Record third quarter year-to-date revenue of $817.8M, 12% growth over the prior year
Slide 25: Water Treatment Group
Our Water Treatment Group specializes in providing chemicals, equipment, and solutions for treatment of potable water, municipal and industrial wastewater, agricultural water, and industrial process water. Our salesperson/route driver is a trained technician who can deliver our products and diagnose
Slide 26: Focus Areas
FOCUS AREAS  Municipal Drinking Water  Breweries/Wineries  Municipal Wastewater  Agricultural Water Treatment  Municipal Swimming Pools  Water Filtration Systems  Industrial Wastewater - Media  Industrial Process Water - Reverse Osmosis (RO)  Cooling Systems/Cooling Towers © 2026 Hawkins, I
Slide 27: Water and Wastewater Treatment Processes
WATER AND WASTEWATER TREATMENT PROCESSES OXIDIZERS, COAGULANTS, CHLORINE & CORROSION CONTROL & FLOCCULANTS, CARBON BLEACH PH ADJUSTMENT RAW WATER SEDIMENTATION COAGULATION/ BASIN FILTER DISINFECTANT TREATED WATER HOME FLOCCULATION BASIN BASIN STORAGE CONSUMPTION WATER TREATMENT BIOLOGICAL COAGULANTS
Slide 28: Filtration Solutions: Industrial and Municipal
FILTRATION SOLUTIONS: INDUSTRIAL AND MUNICIPAL © 2026 Hawkins, Inc. 28
Slide 29: Why WaterSurplus – Acquired April 2025
WHY WATERSURPLUS – ACQUIRED APRIL 2025  Chemical water treatment alone may not be able to meet required water standards (i.e. removal of iron, manganese, radium, PFAS), or customer preferences, and equipment will be needed  Adds water filtration equipment to Hawkins Water Treatment offering, resul
Slide 30: Water Treatment Differentiators
WATER TREATMENT DIFFERENTIATORS  Large Geographic Territory - Locations in 52 Cities in 26 States  Full Line Product Offering - Chemistries and Equipment  Route Sales/Service Business Model - Technical Application Specialists © 2026 Hawkins, Inc. 30
Slide 31: Food and Health Sciences Group
Our Food and Health Sciences Group provides specialized ingredient solutions for the agriculture, food, nutrition and pharmaceutical end-use markets. Each of our end-use markets has a team dedicated to ensuring the correct solutions are developed and applied to meet our customers' demands. © 2026 Ha
Slide 32: End-Use Markets
END-USE MARKETS In Food and Health Sciences, our experienced team's drive to maintain the highest level of service is the foundation of our business, and what will continue to differentiate Hawkins from our peers Nutrition Agriculture Pharmaceuticals Food Ingredients © 2026 Hawkins, Inc. 32
Slide 33: End-Use Market: Nutrition
END-USE MARKET: NUTRITION  Service - For over 55 years, we’ve serviced the Nutrition end-use market building a reputation as a trusted, specialized ingredient supplier - We’re deeply committed to quality, customer satisfaction, and on-time delivery - Our dedicated team and scientific advisory board
Slide 34: End-Use Market: Pharmaceutical
END-USE MARKET: PHARMACEUTICAL  Products - High-purity excipients, sugars, phosphates, acids/alkalis - Our products are used in animal and human vaccines, biotechnology, diagnostics, medical devices, and life sciences  Service - We are agile and responsive, with services including blending, reacti
Slide 35: End-Use Market: Food
END-USE MARKET: FOOD  Products - Comprehensive product mix of base chemistry, acid base reactions, phosphates, antimicrobials, liquid and dry ingredients - Preservatives, dairy processing aids, acidulants, brewery products and ingredients  Technical Team - Our team consists of food scientists and
Slide 36: End-Use Market: Agriculture
END-USE MARKET: AGRICULTURE  Products - Base chemistry, acid base reactions, micronutrients and phosphates - Fertilizer and crop preservation  Capabilities - Blending, reacting, packaging, and distribution—across multiple facilities—ensures a secure, and responsive supply chain for our customers -
Slide 37: Industrial Group
Our Industrial Group formulates, manufactures, and distributes specialty and industrial chemicals. Hawkins also provides custom toll blending and product development services for our customers. © 2026 Hawkins, Inc. 37
Slide 38: Industries Served
INDUSTRIES SERVED Manufacturing Electronics Energy Production Surface Finishing © 2026 Hawkins, Inc. 38
Slide 39: Focus Areas
FOCUS AREAS  Acid-Base Reactions  Markets Served  Custom Blends and Formulations - Chemical processing  Bulk Tanker Deliveries - Biofuels / ethanol production  Packaging Solutions - Energy - Pulp and paper  CIP Cleaning Products - Mining industry  Industrial Bleach Applications - Food manufac
Slide 40: Cross-Division Value Add
CROSS-DIVISION VALUE ADD  Industrial Solutions commodity purchases are a major driver of Hawkins purchasing power  Increased purchasing power creates favorable cost positions for all three segments  Favorable cost positions help grow company-wide profit margin © 2026 Hawkins, Inc. 40
Slide 41: Differentiators
DIFFERENTIATORS  Superior Customer Service  Services Include: - 24/7/365 After hours live person on call center - Contract manufacturing and  Technical Knowledge packaging - 85+ Years of Experience - Regulatory and safety assistance - Experts equipped to meet customer demands - Inventory manageme
Slide 43: Significant Products
SIGNIFICANT PRODUCTS - Acetic Acid - Formic Acid - Flocculants - Ammonia and Aqua - Hydrochloric Acid - Coagulants Ammonia - Nitric Acid - Precipitants - Bleach - Phosphoric Acid - Antifoams - Calcium Chloride - Propionic Acid - Fluoridation - Caustic Potash (Potassium - Propylene Glycol - Equipment
Slide 44: Non-GAAP Measures
NON-GAAP MEASURES ADJUSTED EBITDA* Trailing 12- Fiscal Months December 28, (in thousands) 2021 2022 2023 2024 2025 2025 Net Income $40,980 $51,542 $60,041 $75,363 $84,345 $82,412 Interest expense, net 1,467 1,404 5,234 4,282 5,432 12,061 Income tax expense 14,871 18,437 22,541 25,782 30,038 29,426 A
Slide 45: Non-GAAP Measures
NON-GAAP MEASURES ADJUSTED EBITDA* Three Months Ending Nine Months Ending December 28, December 29, December 28, December 29, (in thousands) 2025 2024 2025 2024 Net Income $14,312 $15,021 $66,085 $68,018 Interest expense, net 3,434 1,216 10,535 3,906 Income tax expense 5,269 5,262 23,331 23,943 Amor
Slide 46: Questions & Comments
INVESTOR PRESENTATION FISCAL 2026 Q3 A LEADER IN WATER TREATMENT & Questions & Comments SPECIALTY INGREDIENTS Jeffrey P. Oldenkamp Executive Vice President and Chief Financial Officer c: 612.331.6910 e: ir@hawkinsinc.com © 2026 Hawkins, Inc. 46

Hawkins — Q3 2026 Earnings Presentation on 6ix

Hawkins — Q3 2026 Earnings Presentation

Slide 1: Investor Presentation Fiscal 2026 Q3

Slide 2: Forward-Looking Statements

Slide 3: Agenda

Slide 4: Hawkins, Inc. at a Glance

Slide 5: Reporting Segments – FY25 Revenue and Markets Served

Slide 6: Mission, Promise and Core Values

Slide 7: Expanding National Footprint

Slide 8: Commodities Turned into Value Added Products

Slide 9: Building Business on Relationships and Solutions

Slide 10: Product Manufacturing Shared Across Business Units

Slide 11: Strong Track Record of Accretive Acquisitions

Slide 12: Consistent Return of Capital to Shareholders

Slide 13: Stock Performance

Slide 14: Capital Allocation Priorities

Slide 15: Environmental, Social, and Governance

Slide 16: Agenda

Slide 17: Value Proposition

Slide 18: Growth Strategy

Slide 19: People & Culture Matter

Slide 20: Agenda

Slide 21: Fiscal 2020-2025 Financials

Slide 22: Fiscal 2026 Third Quarter Financials

Slide 23: Fiscal 2026 Third Quarter Year-to-Date Financials

Slide 24: Agenda

Slide 25: Water Treatment Group

Slide 26: Focus Areas

Slide 27: Water and Wastewater Treatment Processes

Slide 28: Filtration Solutions: Industrial and Municipal

Slide 29: Why WaterSurplus – Acquired April 2025

Slide 30: Water Treatment Differentiators

Slide 31: Food and Health Sciences Group

Slide 32: End-Use Markets

Slide 33: End-Use Market: Nutrition

Slide 34: End-Use Market: Pharmaceutical

Slide 35: End-Use Market: Food

Slide 36: End-Use Market: Agriculture

Slide 37: Industrial Group

Slide 38: Industries Served

Slide 39: Focus Areas

Slide 40: Cross-Division Value Add

Slide 41: Differentiators

Slide 42: Agenda

Slide 43: Significant Products

Slide 44: Non-GAAP Measures

Slide 45: Non-GAAP Measures

Slide 46: Questions & Comments