BofA Securities Double Downgrades Latham Group Inc. (SWIM) to Underperform on Weak Pool Construction

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Go back to BofA Securities Double Downgrades Latham Group Inc. (SWIM) to Underperform on Weak Pool Construction

Latham Group, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results and Provides 2024 Guidance

March 12, 2024 4:05 PM EDT

Full Year 2023 Sales Outperformed the U.S. In-Ground Pool Market in 2023 Driven by Continued Fiberglass Conversion

Substantially Reduced Cost Structure During 2023

Full Year Operating Cash Flow of $116 Million Yielded Record Cash Position of $100 Million at Year-End

2024 Guidance Anticipates Continued Ability to Outperform Industry Amid Difficult Market Conditions

Fourth Quarter 2023 Highlights:

Net sales of $90.9 million, down 15.8% year-over-yearNet income of $0.1 million improved from prior years net loss of $19.0 million; Net income margin was... More