Hayward Shares Rise In Pre-market On Better-than-expected Q4 Results

(RTTNews) - Shares of Hayward Holdings, Inc. (HAYW), a manufacturer of pool equipment and associated automation systems, are rising more than 6 percent in pre-market on Thursday at $14.00, after reporting upbeat quarterly results above view.

The company posted 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.

Hayward 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.

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 $1.04 billion.

Hayward shares had closed at $13.09, up 0.69 percent on Wednesday. The stock has been trading in the range of $9.80 - $15.22 in the last 1 year.