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) 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.
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.