Hayward reports Q2 EPS 21c, consensus 20c

Reports Q2 revenue $284.39M, consensus $282.58M.Adjusted EBITDA* increased 4% year-over-year to $82.6M…”I am pleased to report second quarter results consistent with expectations,” said Kevin Holleran, Hayward’s President and Chief Executive Officer. “We delivered record gross margins and increased cash flow through ongoing operational execution and working capital management. This performance enabled us to further strengthen the balance sheet and fund our growth initiatives. During the quarter, we reduced net leverage meaningfully while completing a voluntary early debt repayment and strategic acquisition of ChlorKing, a leader in commercial pool water sanitization. ChlorKing’s innovative technologies and strong customer relationships expand our product offering and improve access to a broader set of customers in this growing market. The economic and interest rate environment remains uncertain, and we are seeing progressively leaner channel inventory positions. However, our team continues to execute at a high level, strengthening Hayward’s leadership position in the pool industry.”