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Why Hawkins Stock Rocketed 11% on Thursday

TheMotleyFool

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Why Hawkins Stock Rocketed 11% on Thursday: https://g.foolcdn.com/editorial/images/733108/finger-about-to-press-a-green-dollar-sign-key-on-a-pc-keyboard.jpg

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.

Source Fool.com

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