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Dec 31, 2023
Hayward Q4 2023 Earnings Report
Hayward's Q4 2023 financial performance reflected an increase in net sales and net income compared to the previous year, driven by higher volumes and favorable pricing.
Key Takeaways
Hayward Holdings reported an 8% increase in net sales to $278.5 million for Q4 2023, with net income rising by 94% to $31.0 million. The company's performance was driven by higher volumes and favorable pricing, leading to an improved gross profit margin of 49.2%.
Net sales increased 8% year-over-year to $278.5 million.
Net income increased 94% year-over-year to $31.0 million.
Adjusted EBITDA increased 42% year-over-year to $75.7 million.
Diluted EPS increased 100% year-over-year to $0.14.
Hayward
Hayward
Forward Guidance
Hayward is introducing 2024 guidance reflecting a return to sales and earnings growth driven by solid execution across the organization, positive price realization and continued technology adoption.
Positive Outlook
- Return to sales and earnings growth
- Solid execution across the organization
- Positive price realization
- Continued technology adoption
- Leveraging competitive advantages and driving increasing adoption of SmartPad™ pool equipment products
Challenges Ahead
- Continued uncertainty around global macro conditions
- Uncertainty around consumer spending
- Expectations regarding channel inventory levels
- Uncertain economic conditions
- Customers taking a cautious approach ahead of the peak pool season