Hayward Holdings, Inc. (HAYW) saw its stock price plummet 5.11% during intraday trading on Wednesday. The sharp decline came despite the company reporting better-than-expected financial results for the fourth quarter.

The pool equipment manufacturer posted Q4 adjusted earnings per share of $0.29, beating the analyst consensus estimate of $0.28. Net sales for the quarter reached $349.4 million, also surpassing expectations of $332.1 million and representing a 6.8% increase from the same period last year.

However, investors appeared focused on the company's forward-looking guidance for fiscal year 2026. Hayward expects adjusted diluted EPS in the range of $0.82 to $0.86, with the midpoint of $0.84 falling slightly below the FactSet consensus estimate of $0.85. The company also projected net sales growth of approximately 4% for the full year, which may have been viewed as modest by market participants expecting stronger growth following the Q4 beat.