Hayward Holdings Q2 Profit Up, Beats Estimates; Narrows Annual Sales Outlook - Update

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Hayward Holdings, Inc. (HAYW) is narrowing its full-year 2024 sales guidance to reflect challenging demand environment, particularly in new construction and remodels and certain international markets.

For fiscal 2024, Hayward now expects net sales of $1.010 billion to $1.040 billion, compared to the previous guidance of $1.010 billion to $1.060 billion. The consensus estimate stands at $1.02 billion.

Q2 results:

Hayward Holdings reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $37.58 million, or $0.17 per share. This compares with $29.45 million, or $0.13 per share, in last year's second quarter.

Excluding items, Hayward Holdings, Inc. reported adjusted earnings of $46.77 million or $0.21 per share for the period.

Analysts on average had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $284.39 million from $283.54 million last year.

Hayward Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $37.58 Mln. vs. $29.45 Mln. last year. -EPS (Q2): $0.17 vs. $0.13 last year. -Revenue (Q2): $284.39 Mln vs. $283.54 Mln last year.