Hayward Holdings (HAYW) Holds the Line: Q2 FY2026 EPS Rises on 6% Revenue Lift, Guidance Reaffirmed

Hayward Holdings, Inc., traded on the NYSE under the ticker HAYW, released its second quarter results for fiscal year 2026. The water-management and pool-technology specialist reported EPS of $0.21 and adjusted EPS of $0.26, with net sales up 6% year over year to $318.4 million. The release also notes a healthier Adjusted EBITDA of $92.7 million, and a reaffirmation of the company’s revenue forecast for the year. There’s a sense of steady progress here, not a splashy surprise.

Key numbers at a glance

Net sales: $318.4 million, up 6% YoY
Net income: $45.6 million, up 2% YoY
Adjusted EBITDA: $92.7 million, up 5% YoY
Diluted EPS: $0.21, up 5% YoY
Adjusted diluted EPS: $0.26, up 8% YoY
Gross profit: $155.1 million; gross margin 48.7%
SG&A: $64.3 million; as a % of net sales, 20.2% (down 30 bps YoY)
RD&E: $7.7 million; 2.4% of net sales
Operating income: $76.0 million; margin 23.9% (vs. 23.8% prior year)
Interest expense, net: $17.0 million
Debt financing costs: $5.2 million tied to the June 23, 2026 refinancing

Management commentary and context

In a quote that reads closer to “steady wins the race,” Kevin Holleran, Hayward’s President and CEO, highlighted continued disciplined execution and resilience of the company’s installed-base aftermarket model. He noted that net sales grew on price realization with stable volumes, and that cash flow enabled a reduction in net leverage to about 1.5x—the lowest level since the IPO in 2021. The company completed a debt refinancing to extend maturities, reduce the cost of capital, and bolster financial flexibility, while maintaining balanced channel inventory and traction on share-gain initiatives.

Importantly, management reiterated its full-year guidance. That matters because in a sector sensitive to tariffs, inflation, and foreign currency swings, the ability to hold forecasts can be as telling as a beat on a quarterly metric. The press release emphasizes that gross margin compressed modestly (tariffs and inflation pressure) despite net price realization, and that operating leverage remains a driver of profitability.

Earnings surprise, EPS consensus, and what isn’t said

The release does not present an EPS consensus figure or discuss an explicit earnings surprise relative to external estimates. In other words, there isn’t a declared earnings surprise in the filing—the company quotes its own progress versus prior-year baselines and reaffirms its revenue forecast for the year. For readers tracking street expectations, the absence of a stated consensus invites interpretation: the EPS and revenue metrics align with company guidance rather than a clear deviation versus analysts’ current expectations.

What this could portend for Hayward and peers

The quarter’s narrative centers on resilience amid inflation and tariffs, illustrated by price realization offsetting costs and a modest margin compression. For Hayward, the combination of solid net sales growth, improved liquidity, and a debt refinancing that extends maturities is a favorable setup if demand in the pool and outdoor living market sustains. The aftermarket installed-base advantage provides relatively stable demand compared with new equipment cycles, which may shield earnings from more cyclical swings.

For sector peers, the pattern matters: disciplined pricing, cost discipline in SG&A, and continued focus on cash generation could become a differentiator if input costs remain volatile. If foreign currency translation continues to offer a tailwind or if inflation pressures cool, peers with similar mix might see margin relief. However, the ongoing need to fund RD&E—driven by product development in a competitive space—means the margin story will hinge on price, volumes, and the effectiveness of cost controls.

Bottom line: a quarter that keeps the water calm while watching the weather

Hayward’s Q2 results present a portrait of disciplined execution under headwinds, with EPS advancing and net sales rising alongside a reaffirmed revenue forecast. The debt refi adds focus to its capital structure, and the company’s reaffirmed guidance suggests management sees room to navigate ongoing macro pressures. For investors and peers, the takeaway is not fireworks but a blueprint: sustain price discipline, manage leverage, and leverage the installed-base advantage to weather inflation and tariff noise.