secwatch.observer — SEC 8-K summary
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Issuer:     Latham Group, Inc. (SWIM)
CIK:        0001833197
Form:       8-K
Filed at:   2023-03-07T23:59:59+00:00
Accession:  0001104659-23-029306
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latham reports Q4 net sales down 22.3% YoY to $107.9M; guides FY2023 net sales $565M-$615M
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- Q4 net loss of $19.0M ($0.17/share) vs. net loss of $6.0M a year ago; Adjusted EBITDA $4.4M (4.1% margin), down 84% YoY.
- Full-year FY2022 net sales $695.7M (+10.4% YoY), net loss $5.7M, Adjusted EBITDA $143.3M (+2.5% YoY, margin 20.6%).
- FY2023 guidance: net sales $565M-$615M, Adjusted EBITDA $90M-$110M, capex $35M-$40M; Q1 2023 net sales $120M-$130M, Adj. EBITDA $6M-$10M.
- Cites macro uncertainty, wholesale destocking, and return to seasonality as headwinds; plans to open Kingston, Ontario fiberglass facility in 2023.
- Cash $32.6M, total debt $312.9M, undrawn revolver $75M as of Dec 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833197/000110465923029306/0001104659-23-029306-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833197/000110465923029306/tm238566d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-029306

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer