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Latham Group, Inc. (Nasdaq: SWIM) is the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. Headquartered in Latham, NY, the company operates coast-to-coast with over 30 facilities and approximately 2,000 employees. Latham offers an extensive variety of pool sizes and shapes, with a range of customization options to transform backyards into entertainment hubs.
Latham's product portfolio includes fiberglass pools, vinyl liners, and automatic safety covers. The company leads the market with innovative products that are cost-effective, easy to install, and eco-friendly, especially fiberglass pools that are gaining more acceptance compared to traditional concrete pools.
Despite facing macroeconomic challenges, Latham has shown resilience through active cost management and strategic production adjustments. Recent financial highlights include a moderate decline in net sales due to lower pool demand, yet improved margins and EBITDA through effective cost reduction measures. Their commitment to quality and customer satisfaction has driven increased website activity and dealer engagements.
In fiscal 2023, Latham reported net sales of $566.5 million, down from $695.7 million in the previous year, primarily due to reduced pool starts and inventory destocking. However, the company's rigorous cost reduction initiatives and lean manufacturing practices have resulted in an Adjusted EBITDA of $88.0 million. Latham maintains strong liquidity with $118.1 million available, supported by disciplined inventory management.
Latham continues to innovate, launching new pool models and enhancing digital tools like the AI-powered Measure by Latham for better product customization. This positions the company well for future growth as the market stabilizes. Strategic partnerships and a robust dealer network further amplify Latham’s market presence.
Looking ahead, Latham remains focused on driving long-term growth through its unique direct-to-consumer and dealer strategies, and ongoing investment in technology and product development. The company’s ESG efforts and continuous improvement initiatives underline its commitment to sustainability and operational excellence.
Latham Group (NASDAQ:SWIM), the largest designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, has won the 'Most Innovative Product for Retailers' award at the 2024 International Pool Spa Patio Expo for its new line of Latham Plunge Pools.
The new collection, launched at IPSPE Dallas, features two fiberglass models and four vinyl liner configurations with customizable features. These compact pools are designed for efficient installation, energy savings, and easy maintenance, suitable for both small and large backyards. The award was determined through peer voting, recognizing products that impact safety, sustainability, and efficiency in the outdoor living industry.
Latham Group (NASDAQ:SWIM), the largest designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, has released its 2023 ESG Report highlighting significant environmental and operational improvements. The company achieved a 50% reduction in fiberglass pool production waste compared to 2022 and implemented energy-efficient measures across facilities.
Key achievements include expanded LED lighting implementation in fiberglass facilities, adoption of acetone alternatives, and extended Regenerative Thermal Oxidizer technology to reduce emissions. On the social front, Latham reported a 45% reduction in employee turnover since 2021 and maintained a 20% representation of underrepresented minorities in its U.S. workforce. The company also strengthened its governance framework with updated Code of Conduct and Human Rights Policy, achieving 100% employee completion of ethics and compliance training.
Latham Group, North America's leading designer and manufacturer of in-ground residential swimming pools, has announced its participation in the upcoming Wolfe December Small Group/1x1 Conference. The virtual event, scheduled for Tuesday, December 10, will feature Scott Rajeski, President and CEO, and Oliver Gloe, CFO, who will conduct investor meetings. The company, which also operates in Australia and New Zealand, maintains its position as the largest player in the residential pool market across these regions.
Latham Group [NYSE:SWIM] has launched an AI-powered measuring technology update for vinyl pool liners through its Measure by Latham Pools system. The technology, which previously measured safety covers, now includes liner measurements using HD camera and LiDAR laser technology. The system allows a single technician to measure an entire pool perimeter and features in under 30 minutes, with turnaround times up to 3x faster than traditional methods. The system includes an M1 scanner, tripod, iPad Air, and other components, integrating with Latham's Builder Management Portal for streamlined project management.
Latham Group, Inc. [NYSE:SWIM] has unveiled a new collection of plunge pools at the International Pool, Spa, & Patio Expo in Dallas. The collection features both fiberglass and vinyl liner options, including six designs suitable for various backyard sizes. The fiberglass models, Milan (10'x16') and Enchantment (9'x17'), offer luxury features, while the Calypso vinyl liner series (8'x16') provides flexible installation options. Additionally, Latham introduced four new full-sized fiberglass pools to its Latham Grand collection. All pools come with customizable features like tanning ledges, LED lighting, and autocovers, backed by a lifetime warranty.
Latham Group, the leading designer and manufacturer of in-ground residential swimming pools across North America, Australia, and New Zealand, has announced its participation in the Baird 2024 Global Industrial Conference. President and CEO Scott Rajeski and CFO Oliver Gloe will lead a fireside chat at 12:00pm CT on Wednesday, November 13, at the Ritz-Carlton Chicago. The management team will also conduct investor meetings throughout the day.
Latham Group (NASDAQ: SWIM) reported Q3 2024 financial results with net sales of $150.5 million, down 6.4% year-over-year, and net income of $5.9 million. The company achieved an Adjusted EBITDA of $29.8 million with a 19.8% margin. Despite challenging industry conditions, fiberglass pool sales showed strength, tracking to reach approximately 75% of total in-ground pool sales in 2024. The company narrowed its FY2024 guidance to net sales of $500-510 million and Adjusted EBITDA of $77-83 million. The acquisition of Coverstar Central in August contributed to expanded gross margins and strategic growth.
Latham Group, Inc. (NASDAQ:SWIM), a leading designer and manufacturer of in-ground residential pools, has announced the appointment of Frank J. Dellaquila as a new independent member of its Board of Directors and Chair of the Audit Committee. Dellaquila, who replaces the retiring Robert D. Evans, brings extensive financial expertise from his tenure as CFO of Emerson Electric Co. from 2009 to 2023.
Dellaquila's background includes significant roles at Emerson, General Electric, and Joseph E. Seagram and Sons, Inc. He currently serves on the boards of Reliance, Inc. and FM, Inc. Latham's Chairman, James C. Cline, expressed confidence that Dellaquila's experience in supporting transformative growth and knowledge of advanced technologies will benefit Latham's initiatives in fiberglass pools, automatic safety covers, and manufacturing efficiencies.
Latham Group, Inc., the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, has announced its upcoming third quarter 2024 earnings release. The company will disclose its financial results on Tuesday, November 5, 2024, after the U.S. market closes. A conference call to discuss the results is scheduled for the same day at 4:30 PM Eastern Time.
Participants are encouraged to pre-register for the call via a provided link. Pre-registered callers will receive a confirmation email with access details. Registration is available up to and after the call start time. A live audio webcast of the conference call will be accessible on the company's investor relations website. For those unable to pre-register or access the internet, dial-in numbers are provided for both domestic and international callers.
Latham Group, Inc. [NYSE:SWIM], a leading in-ground residential swimming pool manufacturer, has partnered with L.C. Williams & Associates (LCWA) as its public relations agency of record. This strategic move aims to boost Latham's brand visibility and reinforce its industry leadership. LCWA, a top-ranked agency in home/housewares and building products, will oversee media relations, thought leadership, and brand storytelling.
Latham's CEO, Scott Rajeski, emphasized LCWA's expertise in driving awareness for fiberglass pools and automatic safety covers. The company offers a range of products including fiberglass and vinyl liner pools, plunge pools, and safety covers. LCWA's President, Kim Blazek Dahlborn, expressed enthusiasm about amplifying Latham's brand story and supporting its growth objectives. PR initiatives are already underway, with expanded activities planned for 2025.