Hayward

Hayward designs and makes equipment for swimming pools and outdoor living, such as pumps, filters, heaters, cleaners, lights, sanitizers and automation controls, and it also makes industrial flow control products. It estimates its share of the North American residential pool market at about 33%. About 85% of its North American residential pool sales go to the aftermarket, which repairs, replaces and upgrades equipment on existing pools, so most demand repeats each year.

It sells mostly through pool equipment distributors, and it has an Early Buy program that gives customers longer payment terms before the season. Its SmartPad equipment connects pool products to an app. It reports two segments: North America, with $277.7 million of net sales in Q2 2026, and Europe and Rest of World, with $40.7 million.

The market doubts that Hayward can keep growing while pool spending is weak. High interest rates and a cautious consumer slow new pool construction and large remodels, and in 2026 most of Hayward's sales growth came from higher prices that offset inflation and tariffs. Tariff costs also lowered gross margin by 50 basis points to 48.7% in Q2 2026, and sales in Europe and Rest of World fell 8% because of the conflicts in the Middle East. Investors fear that price increases can not continue, and that volume can fall if consumers cut back.

For the gap to close, three things must be true. Hayward must meet its 2026 guidance of about 5% net sales growth and adjusted diluted EPS of $0.84 to $0.87. Volumes must stay stable or grow, which shows that the aftermarket base holds up when prices rise. Gross margin must stay near 49% or better while tariffs remain.

Hayward has room to act, because net leverage fell to 1.5 times on June 27, 2026, and it bought back $58.0 million of shares in Q2 2026. The Q3 2026 report, expected at the end of October 2026, and the full-year report with the first 2027 guidance in about February 2027 give the evidence. If sales and margins hold, the gap can close over the next three to five quarters. If the consumer weakens further, the gap can stay until pool construction recovers.

1. Oct 29, 2026 · est.Pending

   Q3 2026 results: volume, price and marginNet sales growth with stable volume, gross margin near 49% and the 2026 guidance kept pass; falling volume or a cut to the guidance fails.
2. Feb 2027 · est.Pending

   Full-year 2026 results and 2027 guidanceAdjusted diluted EPS of $0.84 to $0.87 for 2026 and a 2027 outlook with sales and earnings growth pass; a 2027 outlook with lower sales fails.
3. Jul 2027 · est.Pending

   Q2 2027 results: the main pool seasonVolume growth in North America in the main season passes; a second year of growth only from price, with lower volume, fails.

Every passed and failed checkpoint across all picks

Hayward's debt is mostly a secured term loan of $960.0 million due June 23, 2033, which it refinanced on June 23, 2026, at term SOFR plus 2.00%. Debt also includes $1.3 million of other bank debt and $3.9 million of finance leases. Read more

• Demand depends on consumer spending on pools. High interest rates and a weak consumer slow new pool construction and large remodels. In 2026, most of Hayward's sales growth came from higher prices, and volume can fall if consumers cut back.
• Tariffs raise Hayward's costs. Gross margin fell 50 basis points to 48.7% in Q2 2026 because of tariffs and inflation. After the US Supreme Court ruled against the IEEPA tariffs on February 20, 2026, the US announced new tariffs under other laws, and Hayward may have to return part of any tariff refund to customers.
• Sales are seasonal and depend on the weather and on the stock that distributors buy. A cool or wet season, or distributors that cut inventory, can lower sales in a quarter.
• Sales in Europe and Rest of World fell 8% in Q2 2026 because of the conflicts in the Middle East. Shareholder derivative lawsuits about past disclosures are still open, and Hayward can not estimate their cost.

• September 30, 2026Hayward appointed Jared Arrowood, its corporate controller, as Chief Accounting Officer from October 1, 2026. CFO Eifion Jones stays CFO and Treasurer.
• July 29, 2026Hayward reported Q2 2026 results. Net sales were $318.4 million, up 6%, mostly from higher prices. Gross margin fell 50 basis points to 48.7% because of tariffs and inflation. Net income was $45.6 million, and adjusted diluted EPS was $0.26, up 8%. North America sales grew 9%, and Europe and Rest of World sales fell 8%. Hayward kept its 2026 guidance.
• June 27, 2026In Q2 2026, Hayward bought back about 4.1 million shares at an average price of $14.24, for about $58.0 million. It also paid the remaining $9.9 million of its securities class action settlement.