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., 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.
Latham Group, the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, has announced its participation in an upcoming investor conference. Scott Rajeski, President and CEO, and Oliver Gloe, CFO, will host investor meetings at the Barclays 8th Annual Building & Building Products Conference on August 14, 2024.
The event will take place at Barclays' offices in New York, NY. This conference provides an opportunity for Latham Group to engage with investors and showcase its position in the swimming pool industry. As the largest player in its market, Latham Group's participation in such events can be significant for investors interested in the construction and home improvement sectors.
Latham Group (Nasdaq: SWIM), the largest designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, has acquired Coverstar Central, its exclusive automatic safety cover dealer in 29 states. The all-cash transaction, completed on August 2, 2024, is expected to be immediately accretive to earnings.
Coverstar Central, headquartered in Indianapolis, is the largest automatic safety cover dealer and service provider in the U.S., operating six regional distribution and service centers. This acquisition aligns with Latham's strategic priorities, aiming to accelerate growth and adoption of automatic safety covers. The vertical integration is expected to result in expanded Adjusted EBITDA margins.
Latham also sees opportunities to leverage Coverstar Central's relationships with pool builders to increase awareness and conversion to fiberglass pools. The company plans to continue working with its other dealers in the remaining 21 states and Canada.
Latham Group, Inc. (SWIM) reported strong Q2 2024 results, with significant margin expansion despite challenging industry conditions. Key highlights include:
- Net sales of $160.1 million, down 9.6% YoY
- Net income of $13.3 million, more than doubling YoY
- Adjusted EBITDA of $34.5 million, up 11.2% YoY
- Adjusted EBITDA margin expanded 400 bps to 21.5%
- Operating cash flow of $52 million in Q2
The company announced the acquisition of Coverstar Central for $64.5 million, expected to be immediately accretive. Latham increased its FY 2024 guidance, projecting net sales of $495-525 million and adjusted EBITDA of $75-85 million.
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.
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?
