Hayward Hldgs Inc Stock Price, News & Analysis

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.