Business
Latham Group, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Guidance
Latham’s In-Ground Pool Sales Outperformed the U.S. Pool Market in 2024 Driven by Fibergla...
About this update from Swmbrd Sports, Inc.
[{"type":"text","content":"Latham Group, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Guidance\n\n\n\n\n\n\n\n\n Latham’s In-Ground Pool Sales Outperformed the U.S. Pool Market in 2024 Driven by Fiberglass Share Gains and Increased Adoption of Automatic Safety Covers\n \n\n\n\n Year-on-Year Margin Expansion Reflects Lower Cost Structure and Cost Discipline Amid Ongoing Investments to Drive Future Growth\n \n\n\n\n Full Year Operating Cash Flow of $61 Million; Year-End Cash Balance of $56 Million after $86 Million of Acquisition Payments and Debt Paydowns\n \n\n\n\n 2025 Guidance Anticipates 8% Sales Growth and 19% Growth in Adjusted EBITDA at the Midpoints\n \n\n\n\n\n Fourth Quarter 2024 Financial Highlights:\n \n\n\n\n Net sales of $87.3 million\n \n\n Net loss of $29.2 million / Net loss per diluted share of $0.25\n \n\n Adjusted EBITDA of $3.6 million / 4.2% of Net sales\n \n\n\n\n\n Full Year 2024 Financial Highlights:\n \n\n\n\n Net sales of $508.5 million\n \n\n Net loss of $17.9 million / Net loss per diluted share of $0.15\n \n\n Adjusted EBITDA of $80.2 million / 15.8% of Net sales\n \n\n\n\n LATHAM, N.Y., March 04, 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 fourth quarter and full year ended December 31, 2024.\n \n\n Commenting on the results, Scott Rajeski, President and CEO, said, “This was a year of substantial achievement for Latham Group. Our in-ground pool sales continued to outperform the U.S. in-ground pool market, we succeeded in expanding margins despite lower utilization, and we made investments that have positioned the Company for sales growth and increased profitability in 2025 and beyond.\n \n\n “Latham’s leadership position in fiberglass pools was a key driver of our pool market outperformance against U.S. in-ground pool starts which were down approximately 15% in 2024. Fiberglass pools represented 75% of Latham’s in-ground pool sales in 2024, compared to 73% in 2023. According to management estimates, fiberglass pools gained one percentage point of total in-ground-pool market share, accounting for 24% of all in-ground pools installed in the U.S. last year, up fr...