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Oct 02, 2021
Hayward Q3 2021 Earnings Report
Hayward's Q3 2021 financial performance was driven by strong sales growth and improved profitability, despite facing inflationary and supply chain challenges.
Key Takeaways
Hayward Holdings reported a strong third quarter with net sales increasing by 56% year-over-year to $350.6 million and net income increasing by 231% to $50.3 million. The company is raising its full-year net sales growth outlook to 59% to 62% while reaffirming its Adjusted EBITDA guidance.
Net sales increased 56% year-over-year to $350.6 million.
Net income increased 231% year-over-year to $50.3 million.
Adjusted EBITDA increased 61% year-over-year to $98.3 million.
The company is raising Net Sales growth to 59% to 62%.
Hayward
Hayward
Forward Guidance
Hayward is raising its net sales guidance for the full fiscal year 2021 and reaffirming its Adjusted EBITDA guidance range.
Positive Outlook
- Strong performance in the first nine months of the fiscal year.
- Increased visibility into the order file.
- Increased confidence in our ability to execute growth levers.
- Net sales growth of 59% to 62% year-over-year is expected.
- Adjusted EBITDA guidance range for the full fiscal year 2021 of $405 million to $425 million is reaffirmed.
Challenges Ahead
- Adverse cost impact from the rapid rate of inflation.
- Ongoing global supply chain disruptions.
- Reconciliation for the forward-looking full year fiscal 2021 Adjusted EBITDA outlook is not being provided.
- 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.
- Forward-looking statements involve risks and uncertainties.