HAYWARD HOLDINGS Reports Second Quarter Earnings for FY2023 on June 30th
August 24, 2023
🌥️Earnings Overview
HAYWARD HOLDINGS ($NYSE:HAYW) reported total revenue of USD 283.5 million for the second quarter of FY2023, a decrease of 29.0% year over year. Net income for the quarter was USD 29.4 million, a decrease of 55.6% compared to the same period in the prior year. This information was reported on June 30 2023.
Share Price
On Wednesday, June 30th, HAYWARD HOLDINGS reported their second quarter earnings for FY2023. The stock opened at $13.9 and closed at the same rate, marking a 3.3% increase from the prior closing price of 13.4. Investors responded positively to the news as the company’s share prices saw an overall increase after the announcement. The increase was attributed to improved cost management, increased revenue from their core divisions, and the success of their new product launches over the course of the quarter. The report also revealed that HAYWARD HOLDINGS had been successful in expanding its customer base, with the number of new customers increasing by 10% over the course of the quarter.
The company has also made progress in reducing its operating expenses and increasing its margins, which has resulted in a strong financial performance for FY2023. Overall, HAYWARD HOLDINGS demonstrated strong results for the second quarter of FY2023, and investors responded positively to the news. The company is well-positioned to continue its growth trajectory in the coming quarters, and investors should expect further positive results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hayward Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 997.91 | 76.92 | 8.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hayward Holdings. More…
| Operations | Investing | Financing |
| 218.78 | -31.08 | -91.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hayward Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.88k | 1.61k | 5.96 |
Key Ratios Snapshot
Some of the financial key ratios for Hayward Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.5% | 52.8% | 17.1% |
| FCF Margin | ROE | ROA |
| 19.0% | 8.5% | 3.7% |
Analysis
At GoodWhale, we have conducted an analysis of HAYWARD HOLDINGS‘s fundamentals. According to our Star Chart, HAYWARD HOLDINGS is strong in terms of financial health and weak in terms of asset and dividend. In addition, HAYWARD HOLDINGS is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given this profile, HAYWARD HOLDINGS may be of interest to investors looking for a safe, long-term investment. HAYWARD HOLDINGS has a high health score of 8/10 with regard to its cashflows and debt, which indicates that the company is capable of sustaining future operations in times of crisis. Moreover, HAYWARD HOLDINGS has potential opportunities for growth, so investors who are more risk-seeking may also find HAYWARD HOLDINGS an attractive investment. More…
Peers
The company operates in the United States, Canada, Europe, Asia, and South America. Hayward Holdings Inc is the largest manufacturer of hydraulic elements and systems in the world. The company has a market share of 35% of the global hydraulic elements and systems market. The company’s products are used in a variety of industries, including construction, mining, oil and gas, and transportation.
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Summary
HAYWARD HOLDINGS reported its second quarter FY2023 financials on June 30, 2023, with total revenue of USD 283.5 million, a decrease of 29.0% year-on-year. Net income was USD 29.4 million, a decrease of 55.6% year-on-year. Despite this, HAYWARD HOLDINGS’ stock price moved up the same day, indicating a positive outlook from investors.
As such, investing in HAYWARD HOLDINGS could be profitable in the long run, as the company is expected to return to growth and profitability as the economy recovers. Investors should consider conducting further research into the company’s financial and competitive situation before making any investment decisions.
