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Overview of Hayward Holdings Inc. (HAYW)
Hayward Holdings Inc. is a prominent global manufacturer and marketer of energy-efficient and technologically advanced pool and spa equipment, as well as industrial flow control products. Headquartered in Charlotte, North Carolina, the company serves both residential and commercial markets, offering a comprehensive range of products designed to enhance the ownership experience for pool and spa users. With over 80 years of industry experience, Hayward has established itself as a trusted name in pool equipment innovation, emphasizing energy efficiency, automation, safety, and reliability.
Core Business Areas
Hayward's product portfolio spans a wide array of pool and spa equipment, including:
- Pumps: High-efficiency pumps designed to reduce energy consumption while maintaining optimal water circulation.
- Filters: Advanced filtration systems for maintaining clean and healthy pool water.
- Heaters: Energy-efficient heating solutions for year-round pool use.
- Sanitization Systems: Salt chlorinators and other sanitization technologies for water quality management.
- Lighting: LED lighting systems that combine energy savings with aesthetic appeal.
- Automation: Cutting-edge pool automation systems that integrate with smart home technologies for remote control and monitoring.
- Safety and Flow Control: Products designed to ensure safe and efficient pool operation.
These products cater to a diverse customer base, including individual pool owners, pool builders, contractors, and commercial facility operators such as hotels, resorts, and community centers.
Competitive Position and Market Significance
Hayward Holdings is recognized as one of the largest manufacturers of residential swimming pool equipment globally, with a growing presence in the commercial pool market. The company differentiates itself through its commitment to innovation and energy efficiency, addressing key market trends such as the increasing demand for sustainable solutions and smart home integration. By focusing on customer-centric design and advanced manufacturing processes, Hayward has built a reputation for reliability and performance in the pool and spa industry.
Business Model and Revenue Streams
Hayward generates revenue primarily through the sale of its products via a network of distributors, retailers, and direct channels. The company's business model is supported by its ability to offer a comprehensive suite of products that meet the diverse needs of its customers. Additionally, Hayward's focus on energy-efficient and automated solutions aligns with regulatory trends and consumer preferences, further strengthening its market position.
Industry Context and Challenges
The pool and spa equipment industry is influenced by factors such as seasonality, economic conditions, and evolving customer preferences. Hayward navigates these challenges by investing in research and development to stay ahead of industry trends, such as the growing adoption of IoT-enabled pool automation systems and the increasing emphasis on energy conservation. The company also faces competition from other manufacturers in the space, but its long-standing expertise and focus on innovation provide a competitive edge.
Conclusion
Hayward Holdings Inc. stands out as a key player in the pool and spa equipment market, leveraging its extensive experience and commitment to innovation to deliver high-quality, energy-efficient solutions. With a diverse product portfolio and a strong focus on customer satisfaction, the company continues to enhance the pool ownership experience for both residential and commercial users.
Hayward Holdings, Inc. (NYSE: HAYW) has announced it will report its first quarter 2023 earnings on May 4, 2023, followed by a conference call at 9:00 a.m. Eastern Time. Investors can access the live call via the company’s Investor Relations website or by dialing designated phone numbers. A replay will also be available approximately two hours after the call, until May 18, 2023. Hayward specializes in pool and outdoor living technology, offering a range of energy-efficient products connected through its IoT-enabled SmartPad™.
Hayward Holdings, Inc. (NYSE: HAYW) announced that funds affiliated with CCMP Capital Advisors and Alberta Investment Management Corporation intend to offer 16,000,000 shares of common stock through an automatic shelf registration with the SEC. The underwriters will have a 30-day option to purchase up to an additional 2,400,000 shares. All net proceeds will go to the Selling Stockholders, as no shares are being sold by Hayward. Goldman Sachs & Co. LLC is the underwriter for this offering. Investors are advised to review the prospectus related to this offering for more detailed information.
Hayward Holdings reported a 27% decline in net sales for Q4 FY2022, totaling $259 million, attributed to lower volumes and macroeconomic uncertainties. Net income fell 75% to $16 million, while adjusted EBITDA dropped 50% to $53.3 million. Despite a 6% decrease in full-year sales at $1.314 billion, GAAP diluted EPS rose 59% to $0.78. The company initiated cost reduction measures aimed at saving $25-$30 million in 2023. Looking ahead, Hayward expects Q1 2023 net sales to decrease by 18% to 22% and adjusted EBITDA to be $265-$285 million.
Hayward Holdings, Inc. (NYSE: HAYW) will announce its fourth quarter and full year 2022 earnings on February 28, 2023, at 9:00 a.m. Eastern Time. The earnings report will be followed by a conference call to discuss the results. Interested parties can register for the call via the company's official link, and a replay will be available approximately two hours afterwards and until 11:59 p.m. Eastern Time on March 14, 2023. Hayward specializes in pool and outdoor living technology, providing a range of energy-efficient and sustainable solutions for residential and commercial needs.
Hayward Holdings, Inc. (NYSE: HAYW) will showcase its innovative pool and outdoor living technology at the 2023 Pool and Spa Show in Atlantic City, N.J., from January 24-26, 2023. The Company will highlight its range of products, including ENERGY STAR certified pumps and IoT-enabled SmartPad™ systems, designed to improve efficiency and user experience. Hayward has made significant strides in connected technologies with recent additions to its portfolio, enhancing customer convenience in pool management. Representatives will be available at Booth #2819 to discuss these industry-leading products and solutions.
Hayward Holdings, Inc. (NYSE: HAYW) announced that its subsidiary, Hayward Industries, Inc., secured $125 million in an Incremental Term Loan B. The loan will help repay borrowings, boost cash reserves, and cover related expenses. It carries a floating interest rate and matures in May 2028. CFO Eifion Jones expressed that this financing enhances liquidity and financial flexibility to support growth initiatives. The loan's closing is expected later this month, contingent on customary conditions.
Hayward Holdings, Inc. (NYSE: HAYW) has announced its participation in the Baird Global Industrial Conference on November 8, 2022, in Chicago, Illinois. Management will present at 9:05 a.m. CT (10:05 a.m. ET). A live webcast of the presentation is available on Hayward's Investor Relations page. Hayward specializes in energy-efficient pool equipment and technology, offering products connected through IoT-enabled solutions to enhance water experiences.
Hayward Holdings, Inc. (HAYW) reported a 30% decrease in net sales to $245.3 million for Q3 2022, along with a 54% drop in net income to $23.1 million. Adjusted EBITDA fell 39% to $60.4 million, and adjusted diluted EPS declined 43% to $0.14. The decline in sales was attributed to channel destocking and macroeconomic uncertainties. Hayward is implementing a cost optimization program targeting $25-$30 million in savings for 2023. The company has revised its full-year sales forecast, now expecting a 6% decrease from the previous year.
Hayward Holdings, Inc. (NYSE: HAYW) will report its third quarter 2022 earnings on November 1, 2022, at 9:00 a.m. Eastern Time. A conference call will follow, accessible via registration at their website. Investors can also listen to a live webcast, which will include an earnings presentation. Those who cannot attend live can access a replay approximately two hours after the call until November 15, 2022. Hayward is recognized for its innovative pool equipment and technology, contributing to a superior outdoor living experience.
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