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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, 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.
Latham Group, Inc. (Nasdaq: SWIM) reported a 14.3% year-over-year increase in net sales for Q2 2022, reaching $206.8 million. The company returned to profitability with a net income of $4.3 million, compared to a loss of $53.6 million in the same quarter last year. Adjusted EBITDA rose 13.5% to $48.7 million, marking a 23.5% margin. Six-month net sales increased by 20.9% year-over-year to $398.4 million. Despite growth, Latham revised its 2022 guidance due to weaker in-ground pool sales driven by macroeconomic factors. The company has $85 million remaining under its share repurchase authorization.
Latham Group, Inc. (Nasdaq: SWIM) announced the appointment of Patrick Sheller as General Counsel and Secretary effective August 8, 2022. Sheller will oversee global legal operations, corporate compliance, and environmental, social & governance initiatives. His extensive background includes roles at Mauser Packaging, Mead Johnson Nutrition, and Eastman Kodak, as well as advising public companies on corporate governance. Latham's President and CEO, Scott Rajeski, expressed confidence in Sheller's ability to contribute to the company's growth and success.
Latham Group, Inc., the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, will release its fiscal Q2 2022 financial results on August 11, 2022. A conference call is scheduled for 9:00 a.m. ET on the same day to discuss the results. Participants are encouraged to pre-register or dial in to access the call. The company operates over 30 facilities with more than 2,000 employees and aims to provide insights into its operational performance in this upcoming discussion.
Latham Group, Inc. (Nasdaq: SWIM), a leading designer and manufacturer of in-ground residential swimming pools, has released its inaugural Environmental, Social, and Governance (ESG) Report. This report marks a significant step in Latham's commitment to sustainability and transparency. CEO Scott Rajeski emphasized the importance of ESG in their strategy. The report was developed with independent consultants and aligns with global reporting standards like SASB and GRI. Stakeholders can find the report on Latham's investor relations website, highlighting the company's proactive approach towards managing ESG risks and opportunities.
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