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H HAYWARD We Build Better . " October 27 , 2021 Hayward Holdings Announces Third Quarter Fiscal Year 2021 Financial Results HAYWARD HOLDINGS , INC . 400 Connell Drive , Suite 6100 Berkeley Heights , NJ 07922 1.908.351.5400 www.hayward.com Continued Strong Results Reflect Hayward's Leading Product Portfolio and Strategic Production Footprint , Raising FY 2021 Net Sales Outlook THIRD QUARTER FISCAL 2021 HIGHLIGHTS Net Sales increased 56 % year - over - year to $ 350.6 million Net Income increased 231 % year - over - year to $ 50.3 million Adjusted Net Income increased 88 % year - over - year to $ 64.2 million Adjusted EBITDA increased 61 % year - over - year to $ 98.3 million Adjusted EBITDA margin expanded 87 basis points to 28 % UPDATED FULL YEAR FISCAL 2021 GUIDANCE HIGHLIGHTS Raising Net Sales growth to 59 % to 62 % ( compared to prior range of 54 % to 58 % ) Reaffirming Adjusted EBITDA range of $ 405 million to $ 425 million , reflecting growth of 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 third quarter ended October 2 , 2021 of its fiscal year 2021 . CEO COMMENTS " Our third quarter results were driven by our team's ability to execute and capture the sustained demand for Hayward products as we continue to see strength in the pool market . I am extremely proud of Hayward's ability to work through supply - side constraints and continue to utilize and expand product capacity , demonstrating our agile manufacturing capabilities and competitive positioning , " said Kevin Holleran , Hayward's President and Chief Executive Officer . " During the quarter we saw a continuation of key industry tailwinds and with our leading product portfolio and innovative technology we were able to further capture market share at improved profitability levels . While we anticipate inflationary and supply side pressures to persist through the end of the year , we are prioritizing pricing and productivity actions to help offset these headwinds . We remain encouraged by the ongoing trends developing in the outdoor living space , fueling sustainable growth for pools and pool products . " THIRD QUARTER FISCAL 2021 CONSOLIDATED RESULTS Net sales increased by 56 % to $ 350.6 million for the third 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 SmartPadTM offering ) , and pricing . Gross profit increased by 53 % to $ 162.5 million for the third quarter of fiscal 2021. Gross profit margin decreased 95 basis points to 46.3 % . The decrease in gross margin was driven by rapidly rising costs in raw materials and logistics expenses as a result of global supply chain constraints , partially offset by pricing actions and manufacturing leverage . Selling , general , and administrative ( " SG & A " ) expenses increased by 39 % to $ 68.8 million for the third quarter of fiscal 2021 . The increase in SG & A was primarily driven by volume related incentives , distribution and warranty costs , legal reserve , and other one - time expenses . As a percentage of net sales , SG & A decreased 240 basis points to 20 % , compared to the prior year period . Research , development , and engineering expenses were $ 6.4 million for the third quarter of fiscal 2021 , or 2 % of net sales , as compared to $ 5.1 million for the prior year period , or 2 % of net sales .