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.
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Latham Group, Inc. (Nasdaq: SWIM) reported first quarter 2024 financial results with net sales of $110.6 million, a net loss of $7.9 million, and adjusted EBITDA of $12.3 million. The company showcased strong execution, cost savings, and value engineering, benefiting from fiberglass pools' relative strength. Key initiatives included new product launches and an AI-powered measurement tool for covers and liners. Despite lower sales, Latham exceeded Q1 guidance with improved service levels. Gross margin expanded, SG&A expenses decreased, and adjusted EBITDA increased. Latham reaffirmed full year 2024 guidance with a focus on advancing fiberglass pools and automatic safety covers.