What Happened?

Shares of pool equipment and automation systems manufacturer Hayward Holdings (NYSE:HAYW) jumped 8.2% in the morning session after the company reported a "beat and raise" quarter. Third-quarter results blew past analysts' revenue and EBITDA expectations. In addition, it lifted its full-year revenue and EBITDA guidance. Zooming out, we think this was a strong quarter.

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What The Market Is Telling Us

Hayward’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. 

The biggest move we wrote about over the last year was 3 months ago when the stock gained 11.2% on the news that the company reported second-quarter earnings results. Hayward beat analysts' EPS expectations. 

Looking ahead, guidance was encouraging as its full-year EBITDA projection exceeded Wall Street's estimates. Zooming out, this was a decent quarter, showing the company is staying on target.

Hayward is up 18.7% since the beginning of the year, and at $15.74 per share, has set a new 52-week high. Investors who bought $1,000 worth of Hayward’s shares at the IPO in March 2021 would now be looking at an investment worth $924.12.

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