Hayward narrows FY24 revenue view to $1.01B to $1.04B, consensus $1.02B

As of June 29 , Hayward had cash and cash equivalents of $215.1M and approximately $232.6M available for future borrowings under its revolving credit facilities. Cash flow provided by operations for the six months ended June 29 of $209.8M was an increase of $43.3M from the prior-year period. The increase in cash provided was primarily driven by greater cash generated by working capital compared to the prior-year period and due to an increase in net income. Hayward is narrowing its full-year 2024 guidance, reflecting better than expected margins offset by a more challenging demand environment, particularly in new construction and remodels and certain international markets. For fiscal year 2024, Hayward now expects net sales of $1.010 B to $1.040B, or an increase of approximately 2% to 5% from fiscal year 2023, including a contribution from the ChlorKing acquisition of approximately 1%, compared to our prior guidance of $1.010B to $1.060B. We now expect Adjusted EBITDA of $255M to $270M , or an increase of approximately 3% to 9% from fiscal year 2023, compared to our prior guidance of $255M to $275 M.