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Jul 03, 2021
Hayward Q2 2021 Earnings Report
Hayward's financial results for the second quarter of fiscal year 2021, demonstrating sustained demand and new product traction, were announced.
Key Takeaways
Hayward Holdings reported a strong second quarter in fiscal year 2021, with net sales increasing by 66% year-over-year to $364.4 million and net income increasing by 182% year-over-year to $52.8 million. The company raised its full year fiscal 2021 guidance, expecting net sales growth of 54% to 58% and adjusted EBITDA of $405 million to $425 million.
Net sales increased 66% year-over-year to $364.4 million.
Net income increased 182% year-over-year to $52.8 million.
Adjusted EBITDA increased 81.0% year-over-year to $110.4 million.
Adjusted EBITDA margin expanded 257 basis points to 30.3%.
Hayward
Hayward
Forward Guidance
Hayward is raising its guidance for the full fiscal year 2021. Hayward now expects net sales growth of 54% to 58% year-over-year, and Adjusted EBITDA of $405 million to $425 million, or a growth range of 75% to 84% year-over-year.
Positive Outlook
- Net sales growth expected to be 54% to 58% year-over-year.
- Adjusted EBITDA expected to be $405 million to $425 million.
- Adjusted EBITDA growth range of 75% to 84% year-over-year.
- Increased visibility into the order file.
- Increased confidence in its ability to execute its growth levers.
Challenges Ahead
- Reconciliation for the forward-looking full year fiscal 2021 Adjusted EBITDA outlook is not being provided.
- Hayward does not currently have sufficient data to accurately estimate the variables and individual adjustments for such reconciliation.
- Hayward management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results.
- The guidance is subject to risks related to Hayward's ability to execute its growth strategies and other factors.
- The forward-looking statements are based on management’s views as of the date of the presentation and are subject to change.