Hayward Holdings Files Q2 2024 10-Q

TL;DR

Hayward Holdings dropped its Q2 10-Q. Check financials.

AI Summary

Hayward Holdings, Inc. filed its 10-Q for the period ending June 29, 2024. The filing details the company's financial position and performance, including its assets, liabilities, and equity. Specific financial figures and operational details are presented within the report, which is crucial for investors and stakeholders to assess the company's current financial health and future prospects.

Why It Matters

This 10-Q filing provides investors with a detailed look at Hayward Holdings' financial performance and position as of Q2 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal significant shifts in financial health or operational performance that may impact stock price.

Key Players & Entities

• Hayward Holdings, Inc. (company) — Filer of the 10-Q
• 20240629 (date) — End of the reporting period
• 0001834622-24-000093 (filing_id) — Accession number for the filing
• 1415 VANTAGE PARK DRIVE, SUITE 400 (address) — Company's business and mailing address
• CHARLOTTE, NC 28203 (address) — Company's business and mailing city, state, and zip

FAQ

Filing Documents

• hayw-20240629.htm (10-Q) — 1504KB
• exhibit101amendmentno4toab.htm (EX-10.1) — 2462KB
• a2024q2exhibit311.htm (EX-31.1) — 10KB
• a2024q2exhibit312.htm (EX-31.2) — 10KB
• a2024q2exhibit321.htm (EX-32.1) — 6KB
• a2024q2exhibit322.htm (EX-32.2) — 5KB
• hayw-20240629_g1.jpg (GRAPHIC) — 5KB
• 0001834622-24-000093.txt ( ) — 10167KB
• hayw-20240629.xsd (EX-101.SCH) — 43KB
• hayw-20240629_cal.xml (EX-101.CAL) — 81KB
• hayw-20240629_def.xml (EX-101.DEF) — 165KB
• hayw-20240629_lab.xml (EX-101.LAB) — 585KB
• hayw-20240629_pre.xml (EX-101.PRE) — 401KB
• hayw-20240629_htm.xml (XML) — 1133KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION ITEM 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Unaudited Condensed Consolidated Balance Sheets 1 Unaudited Condensed Consolidated Statements of Operations 2 Unaudited Condensed Consolidated Statements of Comprehensive Income 3 Unaudited Condensed Consolidated Statements of Changes in Redeemable Stock and Stockholders ' Equity 4 Unaudited Condensed Consolidated Statements of Cash Flows 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Note 1 Nature of Operations and Organization 6 Note 2 Significant Accounting Policies 6 Note 3 Revenue 7 Note 4 Inventories 7 Note 5 Accrued Expenses and Other Liabilities 7 Note 6 Income Taxes 8 Note 7 Long-Term Debt 9 Note 8 Derivatives and Hedging Transactions 9 Note 9 Fair Value Measurements 11 Note 10 Segments and Related Information 12 Note 11 Earnings Per Share 13 Note 12 Commitments and Contingencies 13 Note 13 Leases 15 Note 14 Stockholders' Equity 15 Note 15 Stock-based Compensation 16 Note 16 Acquisitions and Restructuring 16 Note 17 Related-Party Transactions 18 Note 18 Subsequent Events 18 I TEM 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 19 I TEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 I TEM 4.

Controls and Procedures

Controls and Procedures 35

—OTHER INFORMATION

PART II—OTHER INFORMATION I TEM 1.

Legal Proceedings

Legal Proceedings 36 I TEM 1A.

Risk Factors

Risk Factors 37 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Other Information

ITEM 5. Other Information 38 ITEM 6. Exhibits 39

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Hayward Holdings, Inc. Unaudited Condensed Consolidated Balance Sheets (Dollars in thousands, except per share data) June 29, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 215,056 $ 178,097 Short-term investments — 25,000 Accounts receivable, net of allowances of $ 2,993 and $ 2,870 , respectively 148,233 270,875 Inventories, net 213,559 215,180 Prepaid expenses 15,789 14,331 Income tax receivable — 9,994 Other current assets 17,579 11,264 Total current assets 610,216 724,741 Property, plant, and equipment, net of accumulated depreciation of $ 103,894 and $ 95,917 , respectively 160,657 158,979 Goodwill 951,879 935,013 Trademark 736,000 736,000 Customer relationships, net 218,252 206,308 Other intangibles, net 95,656 94,082 Other non-current assets 90,011 91,161 Total assets $ 2,862,671 $ 2,946,284 Liabilities and Stockholders' Equity Current liabilities Current portion of long-term debt $ 14,261 $ 15,088 Accounts payable 69,392 68,943 Accrued expenses and other liabilities 148,813 155,543 Income taxes payable 2,974 109 Total current liabilities 235,440 239,683 Long-term debt, net 959,840 1,079,280 Deferred tax liabilities, net 242,608 248,967 Other non-current liabilities 67,385 66,896 Total liabilities 1,505,273 1,634,826 Commitments and contingencies (Note 12) Stockholders' equity Preferred stock, $ 0.001 par value, 100,000,000 authorized, no shares issued or outstanding as of June 29, 2024 and December 31, 2023 — — Common stock $ 0.001 par value, 750,000,000 authorized; 243,738,167 issued and 215,071,798 outstanding at June 29, 2024; 242,832,045 issued and 214,165,676 outstanding at December 31, 2023 244 243 Additional paid-in capital 1,086,680 1,080,894 Common stock in treasury; 28,666,369 and 28,666,369 at June 29, 2024 and December 31, 2023, respectively ( 358,110 ) ( 357,755 ) Retained earnings 628,330 580,909 Accumulated other comprehensive income 254 7,

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View this 10-Q filing on SEC EDGAR