Hayward Holdings: Rating Upgrade As I See The Start Of A Growth Cycle [Seeking Alpha]
Hayward Holdings, Inc. (HAYW)
Company Research
Source: Seeking Alpha
HAYW's FY24 guidance suggests revenue growth and margin expansion, with potential for higher incremental margins. Summary My last coverage of Hayward Holdings Inc. ( NYSE: HAYW ) was in January 2023, and I recommended a hold rating as I saw visible headwinds that could impact its FY23 performance. Contrary to my worry, the stock has done really well since my initial price of ~$9, touching near $14 today. This post is to provide an update on my thoughts on the business and stock. I am upgrading my rating from hold to buy as I am expecting FY24 to be the start of the recovery growth cycle. Accelerating growth should result in high incremental margins that result in margin expansion. Investment thesis In the latest results , HAYW reported 4Q23 revenue of $279 million, which is slightly above the street estimates of $272 million. In North America, revenue grew 10% to $238 million, driven primarily by pricing and pulled-forward demand, resulting in strong volume growth. As for Eur
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HAYW
News
- Hayward Holdings Announces First Quarter 2024 Earnings Release and Conference Call DateBusiness Wire
- Hayward Appoints Senior Vice President, Chief Global Operations Officer [Yahoo! Finance]Yahoo! Finance
- Hayward Appoints Senior Vice President, Chief Global Operations OfficerBusiness Wire
- Hayward Earns 2024 ENERGY STAR® Partner of the Year Award [Yahoo! Finance]Yahoo! Finance
- Hayward Earns 2024 ENERGY STAR® Partner of the Year AwardBusiness Wire
HAYW
Earnings
- 2/29/24 - Beat
HAYW
Sec Filings
- 4/18/24 - Form 4
- 4/17/24 - Form ARS
- 4/17/24 - Form DEFA14A
- HAYW's page on the SEC website