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.
Company Overview
Latham Group, Inc. (Nasdaq: SWIM) stands as the largest designer, manufacturer, and marketer of in-ground residential swimming pools and essential pool components across North America, Australia, and New Zealand. With a history spanning over six decades, the company has built a strong reputation by transforming backyards into versatile outdoor living spaces through the integration of innovative pool designs and state-of-the-art manufacturing techniques.
Core Business and Product Offering
Focusing primarily on the production of premium fiberglass pools and vinyl liner pools, Latham Group offers homeowners an extensive array of pool sizes, shapes, and customizable options. This diverse product portfolio enables homeowners and pool dealers alike to tailor products to individual tastes and varying outdoor spaces. In addition to the pools themselves, the company delivers complementary products such as automatic safety covers, pool liners, and advanced digital measurement tools. These products not only enhance safety and cost savings on heating and chemical usage, but they also underscore Latham’s commitment to combining safety with superior design.
Innovation and Technological Advancements
Latham Group is synonymous with innovation in the pool manufacturing sector. The company has continually integrated digital transformation initiatives that improve the overall consumer experience. One notable advancement is its proprietary AI-powered measurement system, "Measure by Latham," which assists dealers in quickly delivering accurate pool cover and liner solutions. Additionally, products like The Attendant, a cloud-based automation system, empower homeowners by automatically regulating pool temperature and water chemistry, thereby reducing operating costs and enhancing convenience. These technological initiatives not only streamline production and installation processes but also support the long-term sustainability of pool ownership.
Operational Excellence and Lean Manufacturing
Efficiency is a cornerstone of Latham Group's operational strategy. The company deploys lean manufacturing and value engineering practices that help reduce production costs, improve material utilization, and boost labor productivity. These initiatives allow Latham to maintain best-in-class quality while navigating volatile market conditions. Its ability to rapidly adapt to shifts in consumer demand and market constraints is a testament to its robust internal controls and cost containment programs.
Market Position and Competitive Landscape
Operating in a niche yet expansive market, Latham Group has established a trusted brand among homeowners and pool professionals alike. The company’s dominant market share in the fiberglass pool segment is anchored by the inherent advantages of its products—namely, swift installation, cost-effectiveness, and eco-friendly attributes compared to traditional concrete pools. Latham’s strategic acquisition of partners such as Coverstar Central further enhances its market presence, enabling greater control over its distribution network and support systems. By aligning with seasoned professionals and leveraging vertical integration, the company differentiates itself in a competitive landscape and reinforces its commitment to quality and innovation.
Dealer Network and Customer Commitment
Latham Group emphasizes strong collaborative relationships with its dealer network, which spans coast to coast. This expansive partnership ecosystem ensures that professional pool builders and spa experts have access to comprehensive product lines and industry-leading support. The company’s dedication to customer-centric service is reflected in its consistent investments in sales, marketing initiatives, and digital tools that facilitate an enhanced buying process. Such commitment not only supports market expansion but also builds lasting trust among consumers and service professionals.
Portfolio Expansion and Strategic Acquisitions
In its pursuit of long-term growth, Latham Group has strategically expanded its portfolio through targeted acquisitions and product line extensions. An important milestone was the integration of Coverstar Central, a leader in automatic safety covers, which has strengthened the company's value chain and bolstered its competitive positioning in key regions of the United States. This vertical integration strategy allows Latham to realize improved margins and streamlined service delivery, enabling the company to capitalize on cross-selling opportunities across its extensive product range.
Industry Impact and Value Proposition
The fundamental value proposition of Latham Group lies in its ability to enrich the homeowner experience by offering innovative, high-quality pool solutions that meet the evolving demands of outdoor living. Its emphasis on superior design, rapid installation, and energy-efficient products ensures that its offerings remain relevant even in fluctuating market conditions. Through continuous improvement, strategic investments in technology, and robust operational practices, Latham sustains a leadership position in a market that is as dynamic as it is competitive.
Conclusion
Overall, Latham Group, Inc. exemplifies a blend of tradition and modernity, leveraging decades of experience to continually innovate and lead in the pool manufacturing and marketing space. With a diversified product portfolio, a strong dealer network, and a commitment to operational excellence, the company successfully balances cost efficiency with premium quality. For investors and industry analysts, Latham remains a compelling case study in how strategic alignment, technological innovation, and customer-oriented service can converge to redefine an industry standard.
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.
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.
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