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, Inc. (Nasdaq: SWIM) announced its fourth quarter and full fiscal year 2022 results, revealing net sales of $107.9 million in Q4, down 22.3% year-over-year, and a net loss of $19.0 million. For the full year, net sales reached $695.7 million, a 10.4% increase, with an adjusted EBITDA of $143.3 million, up 2.5%. The company's outlook for FY 2023 predicts net sales between $565 million and $615 million and adjusted EBITDA of $90 million to $110 million, amid challenges in consumer demand and inventory normalization. The company continues to execute cost reduction initiatives and invest in its fiberglass manufacturing capacity.
Latham Group, Inc., the leading designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, will release its financial results for Q4 and fiscal year 2022 before market opening on March 7, 2023. Following the release, a conference call is scheduled for 9:00 a.m. Eastern Time to discuss these results. Interested participants can pre-register online to receive a confirmation email, including a conference passcode. A live audio webcast and related presentation materials will also be accessible on the company's investor relations website.
Latham Group, Inc. (Nasdaq: SWIM) announced the launch of two new fiberglass swimming pool models, Tuscan and Enchantment, aimed at enhancing its product lineup in 2023. These models reflect modern geometric designs and cater to a variety of consumer needs. The Tuscan pool features swim-up seating and slip-resistant steps, offering functionality and style. Meanwhile, the Enchantment model emphasizes relaxation with its resort-style splash deck and deep swimming area. Latham plans to roll out these models in the first half of 2023, further solidifying its position as the largest swimming pool designer and manufacturer in North America, Australia, and New Zealand.
Latham Group, Inc. (Nasdaq: SWIM) has launched Measure by Latham, an advanced AI-powered measuring tool designed to enhance the accuracy and efficiency of measuring swimming pool vinyl liners and safety covers. This innovative device utilizes cutting-edge 3D-awareness technology, providing dealers with precise measurements within minutes. The tool integrates seamlessly with the Latham Measure App, allowing for streamlined project management, quoting, and ordering processes. Latham aims to modernize the pool measurement landscape with this breakthrough technology, making traditional manual measuring obsolete.
Latham Group, Inc. (Nasdaq: SWIM) announced Mark Borseth as the Interim Chief Financial Officer, effective March 18, 2023, following Robert Masson's resignation due to family reasons. Borseth previously served as CFO and will guide the company while a permanent replacement is sought. Latham reaffirmed its fiscal 2022 guidance, projecting net sales between $685 million and $700 million with adjusted EBITDA of $140 million to $145 million. Additionally, expected capital expenditures are around $40 million. Financial results for Q4 and the full year will be reported in early March.
Latham Group, Inc. (Nasdaq: SWIM), the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, announced that Scott Rajeski, President and CEO, along with CFO Rob Masson, will participate in investor meetings at the Truist Securities 4th Annual Industrials and Services Summit in New York on December 6, 2022. No formal presentation or webcast will be provided. Investors can access Latham's latest presentation on their investor relations website.
Latham Group reported a 16.9% increase in third-quarter net sales, reaching $189.4 million compared to last year. The company saw a net income of $11.9 million, a significant turnaround from the prior year's loss of $11.3 million. Adjusted EBITDA rose by 17.0% to $42.3 million, with a margin of 22.3%. For the nine months, net sales increased 19.6% to $587.8 million. However, Latham has implemented a cost reduction plan expecting annual savings of $12 million due to market challenges. Revised fiscal 2022 guidance reflects lower expected sales of $685-$700 million.
Latham Group, Inc., the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, will announce its third-quarter financial results for fiscal 2022 on November 10, 2022. A conference call will follow at 9:00 a.m. ET, where participants are encouraged to pre-register for immediate access. The company's operations span over 30 facilities with more than 2,000 employees. Investors can access a live audio webcast of the call and presentation materials on the company’s investor relations website.
Wynnchurch Capital announced key personnel additions to its investment and finance teams, aiming to enhance its operational capacity. Andrew Singer joins as Principal, bringing extensive investment experience, while Rohan Shah, Annie Masciopinto, and Peter Alexander join as Associates. The finance team expands with Julia Pollex, Jackie Hurley, and Alexandra Zieminski. Wynnchurch is actively pursuing investment opportunities for its $2.277 billion Fund V, previously acquiring firms like FCA and Mattress Warehouse, indicating a focus on growth in middle-market sectors.
Latham Group, Inc. (Nasdaq: SWIM) announced that CEO Scott Rajeski and CFO Rob Masson will participate in the Morgan Stanley 10th Annual Laguna Conference on September 14, 2022. They will engage in a fireside chat at 11:05 a.m. PT, with a live audio webcast available on Latham's investor relations webpage. As the largest designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, Latham operates over 30 facilities and employs over 2,000 individuals.
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