Hayward Holdings Shares Surge Following Strong Fiscal Third Quarter Earnings
Hayward Holdings (HAYW) saw its stock price jump over 13% following the release of robust fiscal third-quarter results. The pool equipment manufacturer reported a 6% year-over-year increase in net sales to $260 million, driven by a strategic focus on the aftermarket segment. This positioning allows the company to remain resilient against the current downturn in the U.S. housing market by catering to existing pool owners rather than new construction. Financial performance was bolstered by significant growth in profitability; adjusted net income rose 23% to $39 million, while adjusted earnings per share (EPS) surged 29% to $0.18, aided by stock buybacks and effective price increases. Looking ahead, management has provided optimistic full-year guidance, projecting net sales growth of 5%-6% and an increase in adjusted EPS to between $0.86 and $0.88.
Tickers: $HAYW
Topics: earnings report fiscal third quarter net sales growth profit increase
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