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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) announced its participation in the Goldman Sachs Industrials and Materials Conference on May 10, 2022, in New York City. Eifion Jones, CFO, and Stuart Baker, VP of Business Development, will present at 1:50 p.m. ET. A live audio webcast will be available on Hayward’s investor relations website. Hayward is a leading provider of pool equipment, focusing on energy-efficient and sustainable solutions.
Hayward Holdings, Inc. (NYSE: HAYW) has priced a secondary offering of 24 million shares at $14.50 per share, with plans for selling shareholders to have a 30-day option for 3.6 million more shares. The company intends to repurchase 8 million shares from the underwriters, funding this with cash on hand and credit facility borrowings. The offering is expected to close on May 5, 2022, pending customary conditions. Proceeds will go to selling shareholders, with no shares sold by the company itself, highlighting strategic capital management.
Hayward Holdings, Inc. (NYSE: HAYW) announced a public offering of 22.5 million shares led by Selling Stockholders, including CCMP Capital Advisors and Alberta Investment Management Corporation. The proceeds from the sale will go to the Selling Stockholders only, with no shares sold by Hayward. The company plans to repurchase 7.5 million shares from underwriters using cash and borrowed funds. The offering's completion is contingent on market conditions, and there are no guarantees regarding the timing or execution.
Hayward reported a strong first quarter for fiscal 2022, achieving net sales of $410.5 million, a 23% increase year-over-year. Net income surged 101% to $74.0 million, with adjusted EBITDA rising 18% to $126.2 million despite inflationary pressures. The company reaffirmed its full-year guidance, projecting 9% to 12% growth in net sales and adjusted EBITDA between $460 million and $475 million. North America saw a 28% increase in net sales, while Europe’s growth was modest at 2%.
Hayward Holdings (NYSE:HAYW) announced that its OmniLogic® platform will integrate with URC Total Control® home automation systems, enhancing user management of connected pools and spas. OmniLogic, a cloud-based automation solution, supports voice commands via Alexa and Google Assistant, further promoting Hayward's SmartPad™ technology. This new functionality allows control of up to four bodies of water simultaneously, offering extensive personalization options and easy installation. This collaboration aims to simplify pool management, benefiting consumers by streamlining operations through a unified interface.
Hayward Holdings, Inc. (NYSE: HAYW) will release its first quarter 2022 earnings results on April 28, 2022, at 9:00 a.m. Eastern Time. A conference call will follow to discuss these results, with registration available online. Investors can also access a webcast via the company's Investor Relations website. A replay of the call will be available shortly after its conclusion. Hayward continues to focus on innovative, energy-efficient pool equipment as part of its SmartPad™ conversion strategy, enhancing the outdoor living experience.
Hayward Holdings, Inc. (NYSE: HAYW) announces the retirement of Don Smith, Senior VP and Chief Supply Chain Officer, after over 15 years with the company. Smith significantly contributed to Hayward's global operational expansion, including the establishment of a manufacturing facility in Wuxi, China, and the transition of operations from Pomona, CA, to Clemmons, NC. Under his leadership, Hayward increased global production capacity by 75% during the pandemic.
Hayward Holdings has launched the AquaRite S3 Salt Chlorination System, enhancing control in saltwater pool management. This system integrates with the top-rated Omni automation platform, allowing users to manage pools remotely through a mobile app or voice-enabled devices. It accommodates a wide range of salt concentrations and utilizes TurboCell® technology for easy inspection. The launch addresses ongoing chlorine shortages, offering a more sustainable and cost-effective sanitization solution, appealing to environmentally conscious consumers.
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