SWIM
Latham Group, Inc.6.50
-0.18-2.69%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Sand States tactics detailed in Q&A
Q&A sharpened focus on new CEO Sean Gadd's push to accelerate Sand States fiberglass penetration via MPC lead generation, dealer segmentation, and installed cost management—tactics to build on Florida's double-digit growth while steadying the region at 17% of sales. Organic growth guides mid-single digits across lines, indexing to fiberglass and autocovers, with pricing netting 2% from prior hikes. Margins advance moderately toward 35% gross via lean initiatives, offsetting marketing spend. Capacity suffices; dealer backlogs look healthy. No walk-backs, just tactical color. Investors watch MPC execution in flat pool starts.
Key Stats
Market Cap
758.26MP/E (TTM)
-Basic EPS (TTM)
-0.10Dividend Yield
0%Recent Filings
10-K
FY2025 results
Latham Group swung to $11.1M net income in FY2025 ended December 31, 2025, from a $17.9M loss in 2024, as net sales climbed 7.4% y/y to $545.9M on $32.8M volume gains from organic growth and Coverstar autocover acquisitions, plus $4.6M tariff pricing. Gross margin expanded 3.2 points to 33.4% via lean manufacturing efficiencies and acquisition accretion, while Q4 momentum built through Sand States fiberglass push despite soft demand. Operating cash flow held steady at $63.4M; Term Loan debt stood at $279.8M with $75M revolver availability. No annual guidance disclosed. Adverse weather remains a quarterly sales risk.
8-K
Q4 sales up 14.5%, EBITDA surges
Latham Group crushed Q4 and full-year 2025 results, posting net sales of $100M (up 14.5%) and $545.9M (up 7.4%), with Adjusted EBITDA soaring 189.6% to $10.5M and 24.4% to $99.8M. Margins expanded sharply from lean manufacturing and acquisitions, outpacing a flat U.S. pool market. Freedom Pools buy closed February 26, 2026—immediately accretive. 2026 guides 9.0% sales and 12.7% Adjusted EBITDA growth at midpoints.
8-K
Latham appoints new CEO Gadd
Latham Group announced CEO Scott Rajeski's retirement effective January 4, 2026, after over eight years leading the firm through its IPO and growth. Sean Gadd, with 21 years at James Hardie including recent North America presidency, steps in as President, CEO of Latham Pool, and Board director on January 5, bringing P&L and growth expertise tied to fiberglass conversion initiatives. Rajeski stays on as advisor through July. Smooth handover planned.
10-Q
Q3 FY2025 results
Latham Group posted solid Q3 momentum with net sales up 7.6% y/y to $161.9M, fueled by covers (+15%) and liners (+13%), while gross margin expanded 3.0pp to 35.4% on lean manufacturing gains and Coverstar Central's vertical integration. Operating income jumped 61% y/y to $21.5M; diluted EPS held steady at $0.07 despite tax expense swing, reconciling to 120M shares. Cash climbed to $70.5M on $40.1M YTD operating cash flow, Term Loan at $281.1M (due 2029), revolver fully available at $75M. Coverstar Central closed Aug 2024 for $71.5M (mostly cash), adding $22M goodwill and $37.8M dealer relationships (13-year life). Covers drove growth, but competition shadows pool demand.
8-K
Q3 sales up 7.6%, EBITDA soars
Latham Group crushed Q3 expectations with net sales up 7.6% to $161.9 million and Adjusted EBITDA surging 28.5% to $38.3 million, hitting 23.7% margins amid flat pool starts. Gross margins jumped 300 basis points to 35.4% from Coverstar deals and lean ops, while covers and fiberglass drove organic gains. It outperformed the market. Full-year guidance tightened to $540-550 million sales, $92-98 million Adjusted EBITDA.
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