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) 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.
Latham, The Pool Company (Nasdaq: SWIM) has appointed Sanjeev Bahl as Chief Operating Officer, effective January 24, 2022. Bahl, who brings over 20 years of experience in global supply chain and operations management, previously held the role of Vice President of Global Operations at Newell Brands. His appointment is aimed at enhancing operational performance and supporting Latham's long-term growth initiatives. President and CEO Scott Rajeski expressed confidence in Bahl's ability to lead the operations organization as the company continues to expand its capacity.
Latham Group, Inc. (Nasdaq: SWIM) announced a public offering of 12,000,000 shares at $19.50 each, with underwriters granted an option for an additional 1,800,000 shares. The offering will close on January 11, 2022. Proceeds will be used to buy shares from principal stockholders, including affiliates of Pamplona Capital Management and Wynnchurch Capital, as well as some from executive officers. Barclays and BofA Securities are the lead underwriters for the transaction.
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.
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