Latham Q2 net sales $177.1M, down 14.3% YoY; guides FY net sales $570-600M

Latham Group, Inc.

2023-Q2 EPS reported -$0.08 revenue$314,847,000

Net sales $177.1M (-14.3% YoY); net income $5.7M vs $4.3M; adjusted EBITDA $31.0M (17.5% margin).
Six-month net sales $314.8M (-21% YoY); net loss $8.7M vs net income $1.5M; adjusted EBITDA $42.0M.
Tightened FY2023 guidance: net sales $570-600M, adjusted EBITDA $90-100M, capex $32-38M.
Total liquidity $118.1M (cash $43.1M + $75M revolver), up 44% from Q1 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Latham Group, Inc. reported fiscal second quarter ended July 1, 2023 results: revenue $177.1 million, net income $5.7 million, EPS $0.05 per share. Guidance reaffirmed.

Period: fiscal second quarter ended July 1, 2023
Revenue: $177.1 million
Net income: $5.7 million
EPS: $0.05 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

today announced financial results for the second quarter and six months of its fiscal year 2023 ended July 1, 2023. Second Quarter Fiscal 2023 Highlights: · Net sales of $177.1 million, down 14.3% year-over-year · Net income of $5.7 million and representing a 3.2% net income margin, versus net income of $4.3 million in the prior year period · Adjusted EBITDA of

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Latham Group, Inc. reported six months ended July 1, 2023 results: revenue $314.8 million, net income Net loss of $8.7 million, EPS ($0.08) per share. Guidance reaffirmed.

Period: six months ended July 1, 2023
Revenue: $314.8 million
Net income: Net loss of $8.7 million
EPS: ($0.08) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Six Months Fiscal 2023 Highlights: · Net sales of $314.8 million, down 21.0% year-over-year · Net loss of $8.7 million and representing a (2.7%) net loss margin, versus net income of $1.5 million in the prior year period

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Source: SEC EDGAR

accession 0001104659-23-088590

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