Latham Group, Inc. Reports Third Quarter 2026 Financial Results

(NASDAQ:SWIM) Latham Group, Inc. announced its financial results for the third quarter ended September 26, 2026. Net sales for the third quarter increased 12.5% to $182.2 million, driven by 8.4% organic growth and a 22.6% increase in in-ground pool sales, of which 13.9% was organic. Cover sales rose 8.7%, with strong organic growth in autocovers, benefiting from revenue synergies from recent Coverstar dealer acquisitions. The Sand States market saw sales growth accelerate to 21.1% in the third quarter and 16.6% year-to-date, led by Florida and Texas. Latham partnered with a national homebuilder to offer fiberglass pools in new home construction in Florida, with one pool already installed in a model home. The company appointed Todd Antonelli as Chief Commercial Officer and added key leadership in sales strategy and operations. Gross profit for the third quarter increased 16.6% to $66.8 million, with gross margin rising to 36.7%. SG&A expenses increased 25.5% to $35.9 million, including $3.2 million in performance-based earn-out expenses related to the Coverstar Central acquisition and costs for digital transformation. Net income for the quarter was $12.1 million, or $0.10 per diluted share, compared to $8.1 million, or $0.07 per diluted share, in the prior year. The quarter included a one-time $5.0 million loss on extinguishment and modification of debt. Adjusted EBITDA increased 18.1% to $45.3 million, with margin expanding to 24.8%. For the first nine months of 2026, net sales rose 11.4% to $497.0 million, gross profit increased 12.9% to $174.1 million, and SG&A expenses rose 20.8% to $110.1 million, including $7.7 million in earn-out expenses for Coverstar Central. Net income for the nine months was $16.3 million, or $0.14 per diluted share, compared to $18.1 million, or $0.15 per diluted share, in the prior year, and included a $5.0 million debt extinguishment loss. Adjusted EBITDA for the nine months increased 14.2% to $102.0 million, with margin up to 20.5%. Latham ended the quarter with $94.8 million in cash. Net cash from operating activities was $48.8 million for the quarter and $54.6 million for the nine months. The company completed a debt refinancing, including a $75 million revolver and $300 million term loan, extending maturities to 2033. Total debt was $292.5 million at quarter end, with a net debt leverage ratio of 1.8. Capital expenditures were $6.1 million for the quarter and $34.2 million for the nine months, including the purchase of four previously leased production sites. Latham acquired Freedom Pools for $17.0 million in February 2026. The Board approved a three-year $100 million stock repurchase plan. Updated FY 2026 guidance is net sales of $605-615 million, adjusted EBITDA of $112-118 million, and capital expenditures of $40-45 million. The company expects fiberglass to gain at least one percentage point of market share in 2026, reaching approximately 25% of total U.S. in-ground pool sales.

Latham Group, Inc. to Participate at Conferences in May and June 2026

Latham Group, Inc. (NASDAQ:SWIM), the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, announced that its management will attend several upcoming investor conferences. On May 28, 2026, Oliver Gloe, Chief Financial Officer, and Joshua Rickaby, Fiberglass Sales – Sand States, will host investor meetings at the Craig-Hallum Institutional Investor Conference in Minneapolis, MN. On June 2, 2026, Oliver Gloe and Chris Daley, Vice President – Finance, will host a fireside chat at 9:05am ET at the Baird Global Consumer, Technology & Services Conference in New York, NY. On June 4, 2026, Oliver Gloe and Joshua Rickaby will host a presentation at 10:00am CT at the William Blair 46th Annual Growth Stock Conference in Chicago, IL. Latham’s management team will also host investor meetings throughout the day at these events. The company operates with approximately 1,900 employees across around 35 locations. These conference appearances provide opportunities for Latham to engage with investors and share updates on its business.

Latham and Olympic Gold Medalist Bode Miller Remind Families to Prioritize Pool Safety for Water Safety Month

Latham Group, Inc., the largest designer, manufacturer, and marketer of in-ground residential swimming pools and pool accessories in North America, Australia, and New Zealand, is promoting pool safety in recognition of National Water Safety Month this May. The company has partnered with Olympic gold medalist Bode Miller and Professional Beach Volleyball Champion Morgan Miller to share pool safety reminders and raise awareness about drowning prevention. According to the CDC, drowning is the leading cause of death among children ages 1-4, with more than 4,000 unintentional drowning deaths in the U.S. every year. Latham emphasizes the importance of proactive safety measures, such as supervision, swim lessons, and automatic safety covers, to help families enjoy their pools with greater confidence. The company operates across 24 locations and offers a broad range of pool products, including fiberglass, vinyl liner, and automatic safety covers.