Pool equipment and automation systems manufacturer Hayward Holdings (NYSE: HAYW) will be reporting results this Wednesday before market open. Here’s what you need to know.
Hayward beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $299.6 million, up 5.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and a solid beat of analysts’ EBITDA estimates.
Is Hayward a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Hayward’s revenue to grow 1.7% year on year to $231.5 million, slowing from the 3.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hayward has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.7% on average.
Looking at Hayward’s peers in the building products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Simpson delivered year-on-year revenue growth of 6.2%, beating analysts’ expectations by 3.1%, and Apogee reported revenues up 4.6%, topping estimates by 2.1%. Apogee traded down 4.5% following the results.
Read our full analysis of Simpson’s results here and Apogee’s results here.
There has been positive sentiment among investors in the building products segment, with share prices up 3.8% on average over the last month. Hayward is up 3.4% during the same time and is heading into earnings with an average analyst price target of $16.64 (compared to the current share price of $15.43).
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