Shares of Hawkins Inc. (HWKN) plummeted 8.44% on Wednesday after the chemical company reported weaker-than-expected results for the third quarter ended September 30, 2024.
Hawkins reported adjusted earnings per share of $1.16, missing the average analyst estimate of $1.18. The company's revenue rose 4.4% year-over-year to $247.03 million but fell short of analysts' expectations of $259.59 million.
Despite the misses, Hawkins reported a quarterly net income of $24.12 million. However, the earnings disappointment appeared to overshadow the positive aspects of the report, leading to the sharp decline in the company's stock price.
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