of $1.1 billion, a third above what analysts polled by Refinitiv had expected. The $17 billion company’s shares have almost doubled since before the pandemic.
That such businesses are doing well in an era marked by time spent at home and fear of contagion is no surprise. Hayward , a U.S. maker of pool equipment, listed in March with a bubbly enterprise value of 5 times estimated sales. There’s pent-up demand too – Americans built 94,000 pools in 2020, well up on 2019 but still below the long-term average of 113,000 a year, according to data in Hayward’s initial public offering
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