secwatch.observer — SEC 8-K summary
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Issuer:     Latham Group, Inc. (SWIM)
CIK:        0001833197
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001104659-24-086290
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latham Q2 net income $13.3M, EBITDA margin 21.5%; acquires Coverstar for $64.5M; raises FY EBITDA guidance to $75-85M
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- Q2 net sales $160.1M, down 9.6% YoY; net income $13.3M ($0.11 diluted EPS) up from $5.7M.
- Adjusted EBITDA $34.5M (21.5% margin), up 11.2% YoY; margin expanded 400 bps.
- Acquired Coverstar Central for $64.5M cash; expected to add ~$20M annual sales and be immediately accretive.
- FY2024 guidance raised: net sales $495-525M, adjusted EBITDA $75-85M (prior $60-70M).
- Q2 operating cash flow $52M; net debt leverage fell to 2.1x from 2.7x in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1833197/000110465924086290/0001104659-24-086290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1833197/000110465924086290/tm2420590d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-086290

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