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. (Nasdaq: SWIM) has initiated a public offering of 12,000,000 shares of its common stock, with an option for underwriters to purchase an additional 1,800,000 shares. The proceeds will primarily be used to repurchase shares from current stockholders, notably affiliates of Pamplona Capital Management and Wynnchurch Capital, as well as some shares from the company’s directors and executives. Barclays and BofA Securities are the joint book-running managers for the offering. A prospectus will be filed with the SEC.
Latham Group, Inc. (NASDAQ: SWIM), a leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, announced its participation in the Truist Securities 3rd Annual Industrials and Services Summit on December 7, 2021. The company will not provide a formal presentation or webcast during this event. Additionally, Latham has updated its investor relations website with a presentation detailing its recent acquisition of Radiant Pools and updates on resin supply and fiberglass production for Q4 2021.
Latham Group has acquired Radiant Pools for approximately $90 million, expanding Latham's product portfolio to include vinyl-lined, aluminum-walled swimming pools. This strategic acquisition boosts Latham's addressable market, particularly in the Northeastern U.S., leveraging its dealer network for broader distribution. Radiant Pools generates around $35 million in annual sales and employs patented aerospace technology for enhanced product durability. The acquisition will be financed through Latham's cash and a $50 million credit facility amendment, with no significant impact expected on Latham's fiscal 2021 outlook.
Latham Group, Inc. (NASDAQ: SWIM) reported a third quarter net sales growth of 27% year-over-year, reaching $162.0 million. However, the company faced a net loss of $11.3 million, contrasting with a net income of $17.7 million in the same period last year. Adjusted EBITDA was $36.1 million, up 2.7% year-over-year, with a margin of 22.3%. For the nine months, net sales grew 68.7% to $491.6 million, but a net loss of $56.4 million was recorded, attributed to significant stock-based compensation expenses.
Latham Group, the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, is set to release its financial results for Q3 2021 on November 10, 2021, before market opening. A conference call to discuss the results will occur at 9:00 a.m. ET on the same day. Interested participants can pre-register online or dial in using provided phone numbers. Latham operates over 32 facilities and employs more than 2,000 people.
Latham Group, Inc. (NASDAQ: SWIM), the leading designer and manufacturer of in-ground residential swimming pools in North America, Australia, and New Zealand, announced its participation in two investor conferences. The Goldman Sachs 28th Annual Global Retailing Conference is scheduled for September 10, 2021, with a fireside chat at 3:20 PM EDT featuring CEO Scott Rajeski and CFO Mark Borseth. The Morgan Stanley 9th Annual Laguna Conference will take place on September 15, 2021, at 8:15 AM EDT. Live webcasts will be available on Latham's investor relations website.
Latham Group, Inc. (NASDAQ: SWIM) posted a remarkable 60.3% year-over-year increase in net sales for Q2 2021, reaching $180.9 million. However, the company reported a net loss of $53.6 million, significantly down from a net income of $16.4 million in Q2 2020, mainly due to non-cash stock-based compensation expenses. Adjusted EBITDA rose 29.5% to $42.8 million. The company is constructing a new fiberglass pool manufacturing facility, expected to be operational by 2024. Latham also raised its full-year guidance for net sales to $600 to $620 million.
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 financial results for Q2 2021 on August 5. The results will be discussed during a conference call at 9:00 a.m. Eastern Time the same day. Participants can pre-register for the call to receive a passcode for access. A replay will be available after the call through August 19, 2021. Latham operates over 32 facilities with more than 2,000 employees nationwide.
Latham Group, Inc. has been added to the US small-cap Russell 2000® Index, effective June 28, 2021. This inclusion enhances Latham's visibility among investors and underscores its stature as the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand.
CEO Scott Rajeski expressed excitement over this milestone, noting its potential to boost shareholder value. The company operates over 32 facilities with more than 2,000 employees, further solidifying its market presence.
Latham, The Pool Company, has launched Plan Your Pool, an interactive section on its website, designed for homeowners to personalize and budget their swimming pool projects. This tool allows users to explore pool shapes, backyard requirements, and installation details, making the planning process more engaging. Additionally, it features a Pool Cost Estimator to compare pricing options. The initiative marks Latham as a leader in the industry, enhancing customer experience with innovative technology. For more information, visit www.lathampool.com.
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?
