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10-Q Filing

HAYWARD HOLDINGS, INC. CIK: 1834622 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001834622-21-000002
Period End Date 20210331
Filing Date 20210518
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance hayw-20210403_htm.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Allowance for credit loss AllowanceForDoubtfulAccountsReceivableCurrent $1.40M USD Point-in-time
Allowance for credit loss AllowanceForDoubtfulAccountsReceivableCurrent $1.40M USD Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $51.90M USD Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $56.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.80M USD Point-in-time
Accounts receivable, net of allowances of $1.4 and $1.4, respectively AccountsReceivableNetCurrent $140.20M USD Point-in-time
Accounts receivable, net of allowances of $1.4 and $1.4, respectively AccountsReceivableNetCurrent $349.10M USD Point-in-time
Inventories, net InventoryNet $159.40M USD Point-in-time
Inventories, net InventoryNet $145.30M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $10.30M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $10.80M USD Point-in-time
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Other current assets OtherAssetsCurrent $13.70M USD Point-in-time
Other current assets OtherAssetsCurrent $14.90M USD Point-in-time
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Total current assets AssetsCurrent $424.40M USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 750.00M shares Point-in-time
Total current assets AssetsCurrent $548.00M USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 750.00M shares Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 231.12M shares Point-in-time
Property, plant, and equipment, net of accumulated depreciation of $56.3 and $51.9, respectively PropertyPlantAndEquipmentNet $142.30M USD Point-in-time
Common stock issued (in shares) CommonStockSharesIssued 3.85M shares Point-in-time
Property, plant, and equipment, net of accumulated depreciation of $56.3 and $51.9, respectively PropertyPlantAndEquipmentNet $142.10M USD Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 2.77M shares Point-in-time
Common stock outstanding (in shares) CommonStockSharesOutstanding 231.12M shares Point-in-time
Goodwill Goodwill $920.30M USD Point-in-time
Goodwill Goodwill $919.40M USD Point-in-time
Common treasury stock (in shares) TreasuryStockCommonShares 4.34M shares Point-in-time
Trademark IndefiniteLivedTrademarks $736.00M USD Point-in-time
Trademark IndefiniteLivedTrademarks $736.00M USD Point-in-time
Common treasury stock (in shares) TreasuryStockCommonShares 4.70M shares Point-in-time
Customer relationships, net FiniteLivedCustomerRelationshipsNet $271.50M USD Point-in-time
Customer relationships, net FiniteLivedCustomerRelationshipsNet $264.00M USD Point-in-time
Other intangibles, net OtherFiniteLivedIntangibleAssetsNet $106.70M USD Point-in-time
Other intangibles, net OtherFiniteLivedIntangibleAssetsNet $103.80M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $7.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $5.90M USD Point-in-time
Total assets Assets $2.61B USD Point-in-time
Total assets Assets $2.72B USD Point-in-time
Current portion of the long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $2.80M USD Point-in-time
Current portion of the long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $2.10M USD Point-in-time
Accounts payable AccountsPayableCurrent $69.60M USD Point-in-time
Accounts payable AccountsPayableCurrent $75.00M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $138.00M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilitiesCurrent $141.80M USD Point-in-time
Income taxes payable TaxesPayableCurrent $4.40M USD Point-in-time
Income taxes payable TaxesPayableCurrent $19.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $218.60M USD Point-in-time
Total current liabilities LiabilitiesCurrent $234.60M USD Point-in-time
Long-term debt, net LongTermDebtAndCapitalLeaseObligations $1.30B USD Point-in-time
Long-term debt, net LongTermDebtAndCapitalLeaseObligations $991.80M USD Point-in-time
Deferred tax liabilities, net DeferredIncomeTaxLiabilitiesNet $274.90M USD Point-in-time
Deferred tax liabilities, net DeferredIncomeTaxLiabilitiesNet $273.60M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $12.30M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $10.90M USD Point-in-time
Total liabilities Liabilities $1.51B USD Point-in-time
Total liabilities Liabilities $1.80B USD Point-in-time
Commitments and contingencies (Note 12) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 12) CommitmentsAndContingencies - USD Point-in-time
Common stock $0.001 par value, 750,000,000 authorized; 231,120,757 issued and outstanding at April 3, 2021; 3,846,960 issued and 2,772,900 outstanding at December 31, 2020 CommonStockValue $200.00K USD Point-in-time
Common stock $0.001 par value, 750,000,000 authorized; 231,120,757 issued and outstanding at April 3, 2021; 3,846,960 issued and 2,772,900 outstanding at December 31, 2020 CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.05B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $10.30M USD Point-in-time
Common stock in treasury; 4,698,584 and 4,340,310 at April 3, 2021 and December 31, 2020, respectively TreasuryStockCommonValue $3.70M USD Point-in-time
Common stock in treasury; 4,698,584 and 4,340,310 at April 3, 2021 and December 31, 2020, respectively TreasuryStockCommonValue $3.90M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $154.40M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $203.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-400.00K USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $3.30M USD Point-in-time
Total stockholders' equity StockholdersEquity $164.00M USD Point-in-time
Total stockholders' equity StockholdersEquity $1.21B USD Point-in-time
Total stockholders' equity StockholdersEquity $134.20M USD Point-in-time
Total stockholders' equity StockholdersEquity $209.20M USD Point-in-time
Total liabilities, redeemable stock, and stockholders' equity LiabilitiesAndStockholdersEquity $2.61B USD Point-in-time
Total liabilities, redeemable stock, and stockholders' equity LiabilitiesAndStockholdersEquity $2.72B USD Point-in-time
Income Statement 50 line items
Line Item Tag Value Unit Period
Foreign currency translation adjustment tax expense (benefit) OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent $1.10M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $170.20M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $334.40M USD 1 Quarter
Foreign currency translation adjustment tax expense (benefit) OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent $-3.10M USD 1 Quarter
Change in fair value of derivatives, tax expense (benefit) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent $-2.00M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $94.60M USD 1 Quarter
Change in fair value of derivatives, tax expense (benefit) OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent $600.00K USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $174.50M USD 1 Quarter
Gross profit GrossProfit $159.90M USD 1 Quarter
Gross profit GrossProfit $75.60M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $66.50M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $43.30M USD 1 Quarter
Research, development, and engineering ResearchAndDevelopmentExpense $4.70M USD 1 Quarter
Research, development, and engineering ResearchAndDevelopmentExpense $4.80M USD 1 Quarter
Acquisition and restructuring related expense AcquisitionAndRestructuringRelatedExpenseIncome $5.50M USD 1 Quarter
Acquisition and restructuring related expense AcquisitionAndRestructuringRelatedExpenseIncome - USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $8.80M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $9.50M USD 1 Quarter
Operating income OperatingIncomeLoss $79.80M USD 1 Quarter
Operating income OperatingIncomeLoss $12.60M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-18.30M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-19.60M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-5.80M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-6.40M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-3.60M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-26.00M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-27.70M USD 1 Quarter
Income (loss) from operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-13.40M USD 1 Quarter
Income (loss) from operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $52.10M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-3.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $15.20M USD 1 Quarter
Net income (loss) NetIncomeLoss $36.90M USD 1 Quarter
Net income (loss) NetIncomeLoss $-10.40M USD 1 Quarter
Net income (loss) NetIncomeLoss $36.90M USD 1 Quarter
Net income (loss) NetIncomeLoss $-10.40M USD 1 Quarter
Foreign currency translation adjustments, net of tax expense of $1.1 million and net of tax benefit of $3.1 million, respectively OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-11.10M USD 1 Quarter
Foreign currency translation adjustments, net of tax expense of $1.1 million and net of tax benefit of $3.1 million, respectively OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $1.70M USD 1 Quarter
Change in fair value of derivatives, net of tax expense of $0.6 million and net of tax benefit of $2.0 million, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $1.80M USD 1 Quarter
Change in fair value of derivatives, net of tax expense of $0.6 million and net of tax benefit of $2.0 million, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-7.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-28.50M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $40.40M USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $-0.85 USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $-8.80 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $-8.80 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $-0.85 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 57.38M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 1.20M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 57.38M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 1.20M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $36.90M USD 1 Quarter
Net income (loss) NetIncomeLoss $-10.40M USD 1 Quarter
Depreciation Depreciation $4.70M USD 1 Quarter
Depreciation Depreciation $4.60M USD 1 Quarter
Amortization of intangible assets AmortizationOfTotalIntangibleAssets $10.40M USD 1 Quarter
Amortization of intangible assets AmortizationOfTotalIntangibleAssets $10.80M USD 1 Quarter
Amortization of deferred debt issuance costs AmortizationOfFinancingCosts $1.40M USD 1 Quarter
Amortization of deferred debt issuance costs AmortizationOfFinancingCosts $1.30M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $700.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $10.60M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-300.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $1.30M USD 1 Quarter
Increase (decrease) in allowance for bad debts ProvisionForDoubtfulAccounts - USD 1 Quarter
Increase (decrease) in allowance for bad debts ProvisionForDoubtfulAccounts $-100.00K USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-5.80M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $210.00M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $102.50M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $6.50M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $15.40M USD 1 Quarter
Other current and non-current assets IncreaseDecreaseInOtherOperatingAssets $-1.90M USD 1 Quarter
Other current and non-current assets IncreaseDecreaseInOtherOperatingAssets $300.00K USD 1 Quarter
Accounts payable and accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherLiabilities $1.10M USD 1 Quarter
Accounts payable and accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherLiabilities $24.40M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-131.80M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-97.80M USD 1 Quarter
Purchases of property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.90M USD 1 Quarter
Purchases of property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.80M USD 1 Quarter
Purchases of intangibles PaymentsToAcquireIntangibleAssets $400.00K USD 1 Quarter
Purchases of intangibles PaymentsToAcquireIntangibleAssets $200.00K USD 1 Quarter
Proceeds from settlements of investment currency hedge ProceedsFromHedgeInvestingActivities $400.00K USD 1 Quarter
Proceeds from settlements of investment currency hedge ProceedsFromHedgeInvestingActivities $400.00K USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-3.90M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-4.60M USD 1 Quarter
Proceeds from issuance of common stock from IPO ProceedsFromIssuanceInitialPublicOffering - USD 1 Quarter
Proceeds from issuance of common stock from IPO ProceedsFromIssuanceInitialPublicOffering $377.40M USD 1 Quarter
IPO stock issuance costs PaymentsOfStockIssuanceCosts - USD 1 Quarter
IPO stock issuance costs PaymentsOfStockIssuanceCosts $25.80M USD 1 Quarter
Proceeds from issuance of Class A common stock ProceedsFromIssuanceOfCommonStock $300.00K USD 1 Quarter
Proceeds from issuance of Class A common stock ProceedsFromIssuanceOfCommonStock $100.00K USD 1 Quarter
Payments of long-term debt RepaymentsOfLongTermDebt $3.50M USD 1 Quarter
Payments of long-term debt RepaymentsOfLongTermDebt $364.60M USD 1 Quarter
Net change in revolving credit facility ProceedsFromRepaymentsOfLinesOfCredit $152.90M USD 1 Quarter
Net change in revolving credit facility ProceedsFromRepaymentsOfLinesOfCredit $48.80M USD 1 Quarter
Payments of capital leases RepaymentsOfLongTermCapitalLeaseObligations $200.00K USD 1 Quarter
Payments of capital leases RepaymentsOfLongTermCapitalLeaseObligations - USD 1 Quarter
Purchase of common stock for treasury PaymentsForRepurchaseOfCommonStock $200.00K USD 1 Quarter
Purchase of common stock for treasury PaymentsForRepurchaseOfCommonStock $2.00M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $147.50M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $35.70M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-400.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-600.00K USD 1 Quarter
Change in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $45.20M USD 1 Quarter
Change in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-101.10M USD 1 Quarter
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $13.80M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $114.90M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $92.40M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $47.20M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $13.80M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $114.90M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $92.40M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $47.20M USD Point-in-time
Cash paid-interest InterestPaidNet $12.00M USD 1 Quarter
Cash paid-interest InterestPaidNet $16.90M USD 1 Quarter
Cash paid-income taxes IncomeTaxesPaidNet $800.00K USD 1 Quarter
Cash paid-income taxes IncomeTaxesPaidNet $100.00K USD 1 Quarter
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $164.00M USD Point-in-time
Beginning balance StockholdersEquity $1.21B USD Point-in-time
Beginning balance StockholdersEquity $134.20M USD Point-in-time
Beginning balance StockholdersEquity $209.20M USD Point-in-time
Net income (loss) NetIncomeLoss $36.90M USD 1 Quarter
Net income (loss) NetIncomeLoss $-10.40M USD 1 Quarter
Conversion to common stock upon IPO StockIssuedDuringPeriodValueConversionOfConvertibleSecurities $594.70M USD 1 Quarter
Issuance of stock StockIssuedDuringPeriodValueNewIssues $351.60M USD 1 Quarter
Cash distributions DividendsCash $100.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $700.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $10.60M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $100.00K USD 1 Quarter
Repurchase of stock TreasuryStockValueAcquiredCostMethod $2.00M USD 1 Quarter
Repurchase of stock TreasuryStockValueAcquiredCostMethod $200.00K USD 1 Quarter
Comprehensive income (loss) items OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-18.10M USD 1 Quarter
Comprehensive income (loss) items OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.70M USD 1 Quarter
Ending balance StockholdersEquity $164.00M USD Point-in-time
Ending balance StockholdersEquity $1.21B USD Point-in-time
Ending balance StockholdersEquity $134.20M USD Point-in-time
Ending balance StockholdersEquity $209.20M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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