Latham Q3 sales $160.8M (-15% YoY), guidance lowered for FY2023

Latham Group, Inc.

2023-Q3 EPS reported -$0.02 revenue$475,625,000

Net sales $160.8M, down 15.1% YoY; net income $6.2M vs $11.9M prior year.
Adjusted EBITDA $36.1M, 22.4% margin, down 14.6% YoY but margin flat.
FY2023 guidance reduced: net sales $555-570M, Adj. EBITDA $82-87M.
Strong cash flow; repaid $10M debt; cash $78.1M, total debt $301.6M.
CEO states industry softness will last longer than previously assumed.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Latham Group, Inc. reported the fiscal third quarter ended September 30, 2023 results: revenue $160.8 million, net income $6.2 million, EPS $0.05 per share. Guidance reaffirmed.

Period: the fiscal third quarter ended September 30, 2023
Revenue: $160.8 million
Net income: $6.2 million
EPS: $0.05 per share
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

announced financial results for the third quarter and first nine months of its fiscal year 2023 ended September 30, 2023. Third Quarter Fiscal 2023 Highlights: · Net sales of $160.8 million, down 15.1% year-over-year · Net income of $6.2 million versus net income of $11.9 million in the prior year period, representing a 3.8% net income margin · Adjusted EBITDA of

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Source: SEC EDGAR

accession 0001104659-23-115002

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