Hayward Holdings Q4 Profit Beats Estimates; Sales Improve By 8%

(RTTNews) - Hayward Holdings, Inc. (HAYW), a manufacturer of pool equipment and associated automation systems, Thursday reported net income of $31.04 million or $0.14 per share for the fourth quarter, nearly 100 percent higher than $15.97 million or $0.07 per share in the same quarter a year ago.

The company had acquisition and restructuring related income of $6.99 million in the latest quarter compared with an expenses of 1.34 million last year.

Excluding one-time items, earnings were $0.20 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.18 per share. Analysts' estimates typically exclude special items.

Sales for the quarter increased by 8% year on year to $278.47 million from $258.97 million last year. The consensus estimate was for $271.92 million.

Looking ahead, Hayward expects net sales of about $1.010 billion to $1.060 billion. Analysts are expecting revenue of $1.040 billion.