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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., 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.
Latham Group, Inc. (Nasdaq: SWIM) announces the retirement of Mark Borseth as Chief Financial Officer, effective December 2022. Robert Masson, with nearly 20 years in finance across various industries, will take over the role on July 11, 2022. Masson previously served as CFO at Hypertherm, Inc. and has a strong finance background from Raytheon. Borseth will remain as a strategic advisor during the transition. The leadership change aims to support Latham's growth in the pool industry, leveraging Masson's expertise.
Latham Group, Inc. (Nasdaq: SWIM), the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, will participate in two upcoming investor conferences. The first is the KeyBanc Capital Markets Industrial & Basic Materials Conference on June 1, 2022, in Boston, MA. The second is the William Blair 42nd Annual Growth Stock Conference on June 7, 2022, in Chicago, IL, where the presentation is scheduled for 2:40 PM CT. Live webcasts will be available on the company’s investor relations website.
Latham Group (Nasdaq: SWIM) reported a 28.8% year-over-year increase in net sales for Q1 2022, totaling $191.6 million. Despite this surge, the company faced a net loss of $2.8 million, a drop from a net income of $8.5 million in the prior year. Adjusted EBITDA rose 43.1% to $48.0 million, with a margin of 25.0%. The company reaffirms its fiscal 2022 guidance, projecting net sales between $850 million and $880 million. A $100 million share repurchase program was also announced to enhance shareholder value.
Latham Group, Inc. (Nasdaq: SWIM) announced that its Odessa, Texas fiberglass manufacturing facility was affected by a fire, causing a pause in production and pool deliveries. Fortunately, no injuries were reported, and existing inventory remains largely unaffected. The company is exploring alternative resource allocation to minimize customer impact. CEO Scott Rajeski expressed gratitude to the local fire crews and reinforced Latham's commitment to employee safety and operational continuity. Latham is the largest in-ground residential swimming pool manufacturer in North America, Australia, and New Zealand.
Latham Group, Inc. (Nasdaq: SWIM), a leading manufacturer of in-ground residential swimming pools, will release its Q1 fiscal 2022 financial results on May 12, 2022, before market open. A conference call to discuss the results will follow at 9:00 a.m. ET that same day. Participants are encouraged to pre-register for the call to receive access details. Investors and analysts can access a live webcast of the call through the company's investor relations website. Latham operates over 30 facilities with a workforce exceeding 2,000 employees.
Latham Group, Inc. (Nasdaq: SWIM) reported its fourth quarter and full fiscal year 2021 results, achieving record net sales growth of 24.1% to $138.9 million in Q4 and a 56.3% increase to $630.5 million for the year. The net loss for Q4 was $6.0 million, while the full year loss ballooned to $62.3 million, primarily due to stock-based compensation expenses. However, adjusted EBITDA rose 56.5% in Q4 to $27.3 million and 66.8% for the year to $139.8 million. Looking ahead, Latham forecasts 2022 net sales between $850 million and $880 million, driven by strong consumer demand.
Latham Group, Inc. (Nasdaq: SWIM) will release its financial results for Q4 and FY 2021 on March 10, 2022, ahead of market opening. A conference call is scheduled for 9:00 a.m. ET on the same day to discuss the results. Participants can pre-register for the call online to receive a confirmation email with a passcode. A live audio webcast will also be available. The company, a leader in in-ground residential swimming pools across North America, Australia, and New Zealand, operates over 30 facilities with more than 2,000 employees.
Latham Group, Inc. (Nasdaq: SWIM) is expanding its operations with a new fiberglass manufacturing plant in Loyalist Township, Ontario, covering 148 acres. This facility will serve the eastern Canadian market and the northeastern and upper midwestern United States. Expected to produce pools for Latham's brands, it aims to meet increasing demand and enhance manufacturing capabilities. The plant is set to create over 100 jobs upon full operation in 2023. Local officials express optimism about the economic benefits for the community.
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