Latham Earnings Reports

Latham Group reported Q4 2024 revenue of $87.3 million, down 4.0% year-over-year, reflecting challenging industry conditions. The company posted a net loss of $29.2 million, or $0.25 per share, largely impacted by non-recurring tax expenses and foreign currency losses. Adjusted EBITDA declined 63.4% to $3.6 million, primarily due to higher investments in sales and marketing. Despite these challenges, gross margin expanded by 130 basis points, and the company ended the year with $56.4 million in cash.

Latham Group reported a decrease in net sales for Q3 2024, but managed to increase gross profit and margin due to production efficiencies and the acquisition of Coverstar Central. The company is focused on fiberglass pool adoption and automatic safety cover sales.

Latham Group's Q2 2024 net sales were $160.1 million, a decrease of 9.6% year-over-year. However, gross profit increased by 5.6% to $53.0 million, with gross margin expanding to 33.1%. Net income more than doubled to $13.3 million, or $0.11 per diluted share, and adjusted EBITDA increased by 11.2% to $34.5 million.