HAYWARD HOLDINGS Reports Second Quarter Earnings Results for FY2023
August 24, 2023
🌥️Earnings Overview
On August 2 2023, HAYWARD HOLDINGS ($NYSE:HAYW) reported its financial results for the second quarter of FY2023, ending June 30 2023. The total revenue for the period was USD 283.5 million, a 29.0% drop from the same quarter in the previous year. The company’s net income also decreased 55.6%, amounting to USD 29.4 million.
Price History
The company’s stock opened at $13.9 and closed at the same price, up by 3.3% from the previous closing price of 13.4. This increase in the stock’s price indicates a positive sentiment in the market towards HAYWARD HOLDINGS. This increase is due to strong sales of the company’s products as well as successful cost-cutting initiatives implemented in recent months. The company has reiterated its commitment to increasing profits and providing investors with more opportunities for growth. 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
After conducting an analysis of HAYWARD HOLDINGS‘s wellbeing, GoodWhale has classified it as a ‘rhino’ company. This type of company has achieved moderate revenue or earnings growth. Investors who prefer slow and steady growth with minimal volatility may be interested in investing in a rhino company such as HAYWARD HOLDINGS. GoodWhale has further determined that HAYWARD HOLDINGS has a high health score of 8/10 with regard to its cashflows and debt. This indicates that it is capable to safely ride out any crisis without the risk of bankruptcy. Additionally, we have found that HAYWARD HOLDINGS is strong in liquidity, medium in growth, profitability and weak in asset, dividend. 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 results on August 2, 2023. Total revenue for the quarter was USD 283.5 million, a decrease of 29.0% from the same period last year. Net income for the quarter was USD 29.4 million, a decrease of 55.6%. On the same day, the company’s stock price moved up.
Investors should take note of both the revenue and net income figures when considering an investment in HAYWARD HOLDINGS. It is also important to look at what the company is doing to address the reduced revenues and net income, such as any cost cutting initiatives or strategic investments. With an understanding of both these figures and the company’s plans to increase them, investors can make an informed decision about investing in HAYWARD HOLDINGS.
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