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Sep 28, 2024
Hayward Q3 2024 Earnings Report
Reported sales and earnings growth, gross profit margin expansion, and increased cash flow, enabling net leverage reduction.
Key Takeaways
Hayward Holdings reported a 3% increase in net sales to $227.6 million and a 40% increase in net income to $16.5 million for the third quarter of fiscal year 2024. The company's performance was driven by positive net price impact and the acquisition of ChlorKing, with updated full-year guidance reflecting modestly improved sales and profitability.
Net sales increased 3% year-over-year to $227.6 million.
Net Income increased 40% year-over-year to $16.5 million.
Adjusted EBITDA increased 8% year-over-year to $51.1 million.
Diluted EPS increased 40% year-over-year to $0.07, and adjusted diluted EPS increased 22% year-over-year to $0.11.
Revenue by Segment
Forward Guidance
Hayward is refining its full-year 2024 guidance ranges to reflect continued strong execution resulting in modestly improved sales and profitability. Hayward now expects net sales of $1.020 billion to $1.040 billion, or an increase of approximately 3% to 5% from fiscal year 2023, and Adjusted EBITDA of $260 million to $270 million, or an increase of approximately 5% to 9% from fiscal year 2023.
Positive Outlook
- Net sales of $1.020 billion to $1.040 billion are expected.
- Sales are expected to increase approximately 3% to 5% from fiscal year 2023.
- Adjusted EBITDA of $260 million to $270 million is expected.
- Adjusted EBITDA is expected to increase approximately 5% to 9% from fiscal year 2023.
- The pool industry remains attractive and benefits from sustainable secular demand trends in outdoor living.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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