On July 28, 2022, Hayward disclosed that it was expecting its channel partners to reduce its inventory on hand by approximately 4 to 6 weeks in the second half of 2022. As a result, the Company updated its full year 2022 outlook expecting net sales to decline between 2% and 6% year-over-year, compared to prior guidance expecting net sales growth between 9% and 12% year-over-year.
On this news, the price of Hayward’s stock price fell $2.50, or 18.23%, to close at $11.21 per share on July 28, 2022, thereby injuring investors.
