Latham posts Q1 net sales up 28.8% to $191.6M, net loss $2.8M; affirms FY22 guidance, announces $100M buyback

Latham Group, Inc.

2022-Q1 EPS reported -$0.02 revenue$191,614,000

Net sales $191.6M (+28.8% YoY); net loss $2.8M vs net income $8.5M prior year; adjusted EBITDA $48.0M (+43.1%).
Fiscal 2022 guidance reaffirmed: net sales $850M-$880M, adjusted EBITDA $185M-$205M, capex $45M-$60M.
Expects H1 net sales ~46%-48% of full year due to supply chain challenges, weather, and Odessa, TX facility fire.
Approved $100M share repurchase program over three years.

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