Hayward Holdings, Inc. (NYSE: HAYW), a leading global designer and manufacturer of residential and commercial pool equipment, reported impressive financial results for the fourth quarter and full fiscal year 2024, driving its stock to surge 8.62% in pre-market trading on Thursday.
For the fourth quarter ended December 31, 2024, Hayward posted net sales of $327.1 million, a 17% year-over-year increase, fueled by higher volumes, price increases, and the positive impact of acquisitions. The company's net income soared 76% to $54.7 million, or $0.25 per diluted share, compared to the prior-year period.
The strong performance was driven by solid execution across various fronts, including operational efficiencies, price realization, and continued adoption of Hayward's leading SmartPad™ pool equipment products. The company's adjusted EBITDA grew 30% to $98.7 million, with the adjusted EBITDA margin expanding by 300 basis points to 30.2%.
For the full fiscal year 2024, Hayward reported net sales of $1.05 billion, up 6% year-over-year, and net income of $118.7 million, a 47% increase from the previous year. Adjusted EBITDA rose 12% to $277.4 million, and the adjusted EBITDA margin improved by 150 basis points to 26.4%.
Hayward's strong performance was driven by its technology leadership, operational excellence, robust brand, and multi-channel capabilities. The company's strategic acquisitions, including the recent acquisition of ChlorKing HoldCo, LLC, also contributed to its growth.
Looking ahead, Hayward introduced its 2025 guidance, anticipating net sales of approximately $1.06 billion to $1.1 billion and adjusted EBITDA of $280 million to $290 million. The company expressed confidence in its long-term outlook for profitable growth and robust cash flow generation, driven by favorable secular demand trends and its competitive advantages.
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