SWIM
Latham Group, Inc.6.50
-0.18-2.69%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
758.26MP/E (TTM)
-Basic EPS (TTM)
-0.10Dividend Yield
0%Recent Filings
8-K
8-K
10-Q
Q2 FY2025 results
Latham Group posted solid Q2 momentum with net sales up 7.8% y/y to $172.6M, fueled by autocover growth and the Coverstar Central acquisition closed August 2024 for $71.5M (cash and non-cash settlement), recognizing $22.0M goodwill and $38.2M dealer relationships (amortized over 13 years). Gross margin expanded 4.0pp to 37.1% on lean manufacturing gains, while operating income rose 23.3% y/y to $24.7M; diluted EPS climbed to $0.13 from $0.11, consistent with 119.4M weighted shares. Covers sales surged 46.0% y/y to $37.2M, offsetting softer pool demand. Cash dipped to $26.9M amid seasonal receivables buildup, but $75.0M revolver availability cushions the $281.5M term loan (due 2029 at ~9.24% effective rate). Free cash flow not disclosed in the 10-Q. Yet competition in pool distribution sharpens pricing risks.
8-K
Q2 sales up 7.8%, board adds expert
Latham Group reported Q2 2025 net sales of $172.6 million, up 7.8% year-over-year, with gross margin expanding 400 basis points to 37.1% from higher volumes, lean initiatives, and Coverstar acquisitions. Adjusted EBITDA rose 15.7% to $39.9 million, or 23.1% of sales, despite marketing investments. The company appointed industry veteran Jeffrey T. Jackson to its board and audit committee, effective August 5, 2025, adding financial expertise amid growth. Latham reconfirms full-year guidance for 8% sales growth and 19% Adjusted EBITDA growth at midpoints. Board expansion bolsters oversight.
10-Q
Q1 FY2025 results
Latham Group edged up net sales 0.7% year-over-year to $111.4M in Q1 FY2025 ended March 29, 2025, driven by volume gains in covers that offset softer pool and liner demand, while gross margin expanded 1.8 points to 29.5% on lean manufacturing efficiencies and Coverstar Central integration. Operating loss widened to $4.9M from $2.1M amid higher SG&A from sales investments and $7.2M amortization (up 12.2% y/y), yet net loss narrowed 24.2% to $6.0M or $(0.05) per diluted share on a $4.1M tax benefit and lower interest costs—reconciled consistently with 115.9M weighted shares. Cash dipped to $24.0M after $46.9M operating outflow from receivables buildup, but $50.0M revolver availability bolsters liquidity alongside $307M total debt (Term Loan at 9.31% effective rate, maturing 2029). The Coverstar Central deal closed August 2024 for $71.5M cash consideration, adding $22.0M goodwill and $37.8M dealer relationships (13-year life) for vertical integration gains. Competition from alternative pool materials remains a key risk.
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