earnings
confidence high
sentiment neutral
materiality 0.75
Hayward Q2 sales up 10% to $399M, net income +25%; cuts FY2022 guidance on channel destocking
Hayward Holdings, Inc.
2022-Q2 EPS reported
$0.59
revenue$809,902,000
- Net sales $399.4M (+10% YoY); North America +17% to $342.1M; Europe & RoW -19% to $57.4M.
- Net income $66.3M (+25% YoY); Adjusted EBITDA $127.6M (+16%), margin 32.0% (+166 bps).
- Board authorized $450M share repurchase program expiring July 2025.
- FY2022 guidance reduced: net sales -2% to -6% YoY; Adjusted EBITDA $385M-$400M.
- Cites channel inventory reduction of 4-6 weeks in H2, Europe geopolitical headwinds, unfavorable FX.