Welcome to our dedicated page for Latham Group news (Ticker: SWIM), a resource for investors and traders seeking the latest updates and insights on Latham Group stock.
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, Inc. (Nasdaq: SWIM), the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, has appointed Nikki Vaughan as Chief Human Resources Officer. With 25 years of global HR experience, Vaughan will lead Latham's HR organization, aligning talent strategy with business objectives.
Vaughan's career includes roles as Chief People Officer at Sedron Technologies and SVP of People at Aggreko's Rental Solutions division. She also held HR leadership positions at Hewlett-Packard and Aon Hewitt. Latham's CEO, Scott Rajeski, emphasized that attracting and retaining top talent is important for the company's future growth and success.
Latham Group (Nasdaq: SWIM) has announced two key appointments to its senior leadership team. Gail Conroy has been named Vice President of Marketing, bringing over 20 years of experience from companies like Caesarstone, LG Electronics, IRI Worldwide, and Samsung. Joshua Rickaby has been appointed Sales Director, tasked with driving fiberglass market penetration in the Sand States. Rickaby also brings over 20 years of experience, having previously served as EVP of Sales and New Product Development at Premier Franchise Management and held significant roles at Fluidra, Maytronics, and Poolrite Equipment. These strategic hires aim to enhance Latham’s branding and sales capabilities.
Latham Group, the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, will announce its Q2 2024 financial results on August 6, 2024, after the U.S. market closes. A conference call to discuss the earnings will be held the same day at 4:30 PM Eastern Time. Participants are encouraged to pre-register for the call to receive a confirmation email with a conference passcode and unique PIN for immediate access. A live audio webcast will be available on the company's investor relations website. An archived webcast will be accessible approximately two hours after the call and will remain available until August 6, 2025.
Latham Group, the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, has launched 'The Attendant' in collaboration with Poolside Tech.
This smart pool automation system, designed specifically for Latham fiberglass pools, offers homeowners complete control over their pool's temperature and water chemistry via smartphone. Leveraging historical data and current weather conditions, it optimizes energy use and ensures cost savings.
The Attendant also integrates with any manufacturer's equipment, automates chemical dosing, and enhances backyard experiences with features like Spotify syncing and lighting controls. The system is available through Latham-authorized builders and can be added to existing Latham pools.
Latham Group, the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, will participate in key investor conferences. On June 4, 2024, CEO Scott Rajeski and CFO Oliver Gloe will host a fireside chat at the Stifel 2024 Cross Sector Insight Conference in Boston, MA. A live webcast and replay will be available at their investor relations site. Additionally, they will conduct investor meetings throughout the day. On June 5, 2024, Rajeski and Gloe will hold investor meetings at the William Blair 44th Annual Growth Stock Conference in Chicago, IL.
Latham Group, Inc. (Nasdaq: SWIM) reported first quarter 2024 financial results with net sales of $110.6 million, a net loss of $7.9 million, and adjusted EBITDA of $12.3 million. The company showcased strong execution, cost savings, and value engineering, benefiting from fiberglass pools' relative strength. Key initiatives included new product launches and an AI-powered measurement tool for covers and liners. Despite lower sales, Latham exceeded Q1 guidance with improved service levels. Gross margin expanded, SG&A expenses decreased, and adjusted EBITDA increased. Latham reaffirmed full year 2024 guidance with a focus on advancing fiberglass pools and automatic safety covers.
FAQ
What is the current stock price of Latham Group (SWIM)?
What is the market cap of Latham Group (SWIM)?
What does Latham Group, Inc. specialize in?
Where is Latham Group, Inc. headquartered?
What are the recent financial highlights for Latham Group, Inc.?
How does Latham Group, Inc. support sustainability?
What are some of Latham's latest innovations?
How does Latham Group, Inc. ensure product quality?
What is the primary market for Latham Group, Inc.'s products?
How does Latham Group, Inc. manage economic challenges?
What are Latham Group, Inc.'s core values?
How does Latham Group, Inc. support its dealers?
