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HAYWARD® August 2 , 2021 We Build Better . " HAYWARD HOLDINGS , INC . 400 Connell Drive , Suite 6100 Berkeley Heights , NJ 07922 1.908.351.5400 www.hayward.com Hayward Holdings Announces Second Quarter Fiscal Year 2021 Financial Results Sustained Demand , New Product Traction and Production Capabilities Drives Robust Results , Raising FY 2021 Outlook SECOND QUARTER FISCAL 2021 HIGHLIGHTS Net Sales increased 66 % year - over - year to $ 364.4 million Net Income increased 182 % year - over - year to $ 52.8 million Adjusted Net Income increased 112 % to $ 75.9 million Adjusted EBITDA increased 81.0 % year - over - year to $ 110.4 million Adjusted EBITDA margin expanded 257 basis points to 30.3 % UPDATED FULL YEAR FISCAL 2021 GUIDANCE HIGHLIGHTS Raising Net Sales growth to 54 % to 58 % ( compared to prior range of 40 % to 45 % ) Raising Adjusted EBITDA to $ 405 to $ 425 ( compared to prior range of $ 360 million to $ 390 million ) ; up 75 % to 84 % year - over - year BERKELEY HEIGHTS , N.J. ( BUSINESS WIRE ) -- Hayward Holdings , Inc. ( Hayward ” ) ( NYSE : HAYW ) , a global designer , manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems , today announced financial results for the second quarter ended July 3 , 2021 of its fiscal year 2021 . CEO COMMENTS “ During the quarter we continued to see strong demand for our products across all categories , reflecting the ongoing secular trends in outdoor living and Hayward's ability to leverage its competitive advantages . Hayward's agile manufacturing capabilities , supply chain integration , strong competitive positioning , and innovative product offerings , helped us to deliver excellent growth , accelerate market share gains , and increase our profitability . We expect our key growth levers to remain positive for the remainder of the year and into 2022 driven by new construction , repair & remodeling and upgrade activity . ” SECOND QUARTER FISCAL 2021 CONSOLIDATED RESULTS Net sales increased by 66 % to $ 364.4 million for the second quarter of fiscal 2021. The increase in net sales was primarily driven by higher volumes , mainly in residential pool equipment sales as we continued to see elevated demand from aftermarket upgrades and new construction . Net sales growth continues to benefit from a robust demand environment for outdoor living products , production capabilities , new products ( especially those within our SmartPad ™ offering ) , and pricing . Gross profit increased by 72 % to $ 168.0 million for the second quarter of fiscal 2021. Gross profit margin increased 161 basis points to 46 % . The increase in gross margin was driven by higher sales volumes , manufacturing leverage and price management , partially offset by inflationary cost increases . Selling , general , and administrative ( “ SG & A ” ) expenses increased by 62 % to $ 71.8 million for the second quarter of fiscal 2021. The increase in SG & A was primarily driven by increased volumes , debt refinancing , and the fire at our Yuncos , Spain facility . As a percentage of net sales , SG & A decreased 39 basis points to 20 % , compared to the prior year period . Research , development , and engineering expenses were $ 5.0 million for the second quarter of fiscal 2021 , or 1 % of net sales , as compared to $ 4.0 million for the prior year period , or 2 % of net sales . Operating income increased by 132 % to $ 81.0 million for the second quarter of fiscal 2021. The increase in operating income was driven by higher net sales and improved operating leverage partially offset by increased SG & A related to volume and one time costs .