Latham Group Inc ( (SWIM) ) has released its Q4 earnings. Here is a breakdown of the information Latham Group Inc presented to its investors.
Latham Group, Inc. is the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, known for its leadership in fiberglass pool technology.
In its latest earnings report, Latham Group announced its financial results for the fourth quarter and full year of 2024, highlighting its strong performance in the in-ground pool market despite challenging industry conditions. The company also provided guidance for 2025, anticipating growth in sales and adjusted EBITDA.
Key financial highlights for 2024 include net sales of $508.5 million, a net loss of $17.9 million, and an adjusted EBITDA of $80.2 million. The company achieved a gross margin expansion of over 300 basis points, driven by lean manufacturing and value engineering initiatives. Latham’s in-ground pool sales outperformed the U.S. market, with fiberglass pools accounting for 75% of sales. The acquisition of Coverstar Central and increased adoption of automatic safety covers contributed to the company’s performance.
Looking ahead, Latham Group expects an 8% sales growth and a 19% increase in adjusted EBITDA for 2025, supported by market share gains in fiberglass pools and benefits from recent acquisitions. The company remains confident in its ability to outperform the U.S. in-ground pool market, despite anticipating continued challenging market conditions.
Latham Group’s management remains optimistic about its strategic positioning and growth prospects for 2025, focusing on expanding its market presence and product offerings to capture new opportunities in the pool industry.