Latham Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 07:15 am EST
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Latham Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 160.78 million compared to USD 189.4 million a year ago. Net income was USD 6.15 million compared to USD 11.88 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.1 a year ago.
For the nine months, sales was USD 475.63 million compared to USD 587.81 million a year ago. Net loss was USD 2.5 million compared to net income of USD 13.34 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.12 a year ago.
Latham Group, Inc. is a designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. The Company offers a range of pools and related products, including in-ground swimming pools, pool liners, and pool covers. Its in-ground swimming pools products include fiberglass pools and packaged pools. The Company offers a portfolio of fiberglass pools with customizable features that include different colors, elaborate finishes, floor mosaics, lighting options, water features, in-floor cleaning, tanning ledges, and spillover spas. The Company manufactures replacement liners and custom vinyl pools in the North American residential in-ground swimming pool market. The Company offers automatic safety covers and all-season pool covers. In North America, it operates under one banner, Latham, the Pool Company. Its sub-brands, which sit under the Latham master brand, include Narellan, CoverStar, Radiant, and GLI, among others.
LATHAM GROUP, INC. 
