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. designs, manufactures and markets in-ground residential swimming pools, pool covers and liners across North America, Australia and New Zealand. Company news commonly covers quarterly results by product line, sales trends in in-ground pools, covers and liners, margin performance, debt leverage and annual guidance.
Recurring updates also address fiberglass and vinyl liner pool adoption, automatic safety covers, lean manufacturing and value engineering initiatives, growth in Sand States markets, and completed acquisitions such as Freedom Pools. Latham also announces consumer safety campaigns and swimming-related sponsorships tied to its residential pool and accessory portfolio.
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Latham Group, Inc., a leading designer and manufacturer of in-ground residential swimming pools, announced the release of its financial results for Q1 fiscal 2023, scheduled for May 9, 2023, before market opening. A conference call to discuss these results will take place the same day at 9:00 a.m. Eastern Time. Participants can pre-register for the call to ensure streamlined access and receive a conference passcode. Latham Group operates across North America, Australia, and New Zealand, employing over 2,000 individuals at more than 30 locations. The company is poised to share critical financial metrics and insights that will inform investors on its performance and outlook.
Latham Group, Inc. has appointed DeLu Jackson, the current Executive Vice President and Chief Marketing Officer of ADT, to its Board of Directors, effective March 30, 2023. Jackson brings over 20 years of marketing experience across renowned brands, enhancing Latham's focus on digital initiatives. Additionally, Brian Pratt joins the Board, replacing Dane Derbyshire, who has stepped down. Pratt's experience in financial and operational matters supports Latham's growth strategy. With these changes, Latham maintains a robust independent board, set to further capitalize on consumer demand in the fiberglass pool market.
Latham Group, Inc. (Nasdaq: SWIM) announced its fourth quarter and full fiscal year 2022 results, revealing net sales of $107.9 million in Q4, down 22.3% year-over-year, and a net loss of $19.0 million. For the full year, net sales reached $695.7 million, a 10.4% increase, with an adjusted EBITDA of $143.3 million, up 2.5%. The company's outlook for FY 2023 predicts net sales between $565 million and $615 million and adjusted EBITDA of $90 million to $110 million, amid challenges in consumer demand and inventory normalization. The company continues to execute cost reduction initiatives and invest in its fiberglass manufacturing capacity.