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.
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.
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.