Latham Group Q1 sales $110.6M, net loss $7.9M, adj. EBITDA $12.3M

Latham Group, Inc.

2024-Q1 EPS reported -$0.07 revenue$110,629,000

Net sales $110.6M, down 19.7% YoY; gross margin expanded 350 bps to 27.7%.
Net loss $7.9M ($0.07/share) vs $14.4M loss ($0.13) in Q1 2023.
Adjusted EBITDA $12.3M, up 11.4% YoY; margin 11.1% vs 8.0%.
Reaffirmed FY2024 guidance: net sales $490-520M, adj. EBITDA $60-70M.
Ended Q1 with cash $43.8M; repaid $18.8M debt; net debt leverage 2.7x.

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 the fiscal first quarter ended March 30, 2024 results: revenue $110.6 million, net income $7.9 million, EPS $0.07 per share. Guidance reaffirmed.

Period: the fiscal first quarter ended March 30, 2024
Revenue: $110.6 million
Net income: $7.9 million
EPS: $0.07 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

ults Benefitted from Strong Execution, Cost Savings, and Value Engineering and Productivity Initiatives · Fiberglass Pools Continued to Show Relative Strength · Company Re-Affirms Full Year 2024 Guidance First Quarter 2024 Financial Highlights: · Net sales of $110.6 million · Net loss of $7.9 million · Adjusted EBITDA of $12.3 million LATHAM, N.Y.

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Source: SEC EDGAR

accession 0001104659-24-058015

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