Business
Latham Group, Inc. Reports First Quarter 2025 Financial Results
First Quarter Performance Led by Relative Strength of Fiberglass Pools and Autocovers San...
About this update from Swmbrd Sports, Inc.
[{"type":"text","content":"Latham Group, Inc. Reports First Quarter 2025 Financial Results\n\n\n\n\n\n First Quarter Performance Led by Relative Strength of Fiberglass Pools and Autocovers\n \n\n\n\n Sand State Expansion Strategy on Track\n \n\n\n\n Continued Benefits from Lean Manufacturing and Value Engineering Initiatives Drove 190-Basis Point Increase in Gross Margin\n \n\n\n\n Maintains Full Year Guidance for 8% Sales Growth and 19% Growth in Adjusted EBITDA at the Midpoints\n \n\n\n\n\n First Quarter 2025 Financial Highlights:\n \n\n\n\n Net sales of $111.4 million\n \n\n Net loss of $6.0 million / Net loss per diluted share of $0.05\n \n\n Adjusted EBITDA of $11.1 million / 10.0% of Net sales\n \n\n\n\n LATHAM, N.Y., May 06, 2025 (GLOBE NEWSWIRE) -- Latham Group, Inc. (Nasdaq: SWIM), the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, today announced financial results for the first quarter 2025 ended March 29, 2025.\n \n\n Commenting on the results, Scott Rajeski, President and CEO, said, “Our first quarter results were in line with our expectations and reflected the relative strength of Latham’s fiberglass pool and autocover product categories and the ongoing benefits from our lean manufacturing and value engineering initiatives.\n \n\n “Both fiberglass pools and autocovers continue to benefit from increased consumer awareness and adoption, even as the broader pool industry faces challenging conditions. We are particularly pleased with the progress made to-date on our Sand State expansion strategy, which is designed to drive market share gains for Latham in Florida, Texas, Arizona, and California, which represent the majority of new pool starts. Together with our dealers, we are actively engaging in key Master Planned Communities in Florida and Texas, our initial target geographies. Additionally, our “GOOTSA” (Get Out of the Stone Age) ad campaign is active in both states, and we are sponsoring a wide range of community events to drive consumer awareness, increased website traffic and lead generation.\n \n\n “Ongoing improvements from our lean manufacturing and value engineering initiatives drove a 190-basis point expansion in gross margin in the first quarter. This performance partially offset increased SG&A spending, w...