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Hayward designs, manufactures, and markets a broad portfolio of pool equipment and associated automation systems, selling products primarily to distributors, major pool builders, buying groups, servicers, and specialty on-line resellers, all of which, in turn, sell Hayward’s products to the pool owner. Hayward purports to have good channel inventory knowledge as channel partners report inventory positions directly to Hayward.
On July 28, 2022, Hayward revealed that its channel partners planned to reduce the inventory on hand, requiring Hayward to reduce its 2022 guidance. On this news, Hayward’s stock declined over 18%.