Stock Track | Latham Group Plunges Over 7% Pre-Market on Disappointing Q3 Results and Weaker 2024 Outlook

Stock Track11-06

Latham Group, Inc. (NASDAQ: SWIM), a leading designer and manufacturer of in-ground residential swimming pools, saw its stock plunge over 7.9% in pre-market trading on November 6, 2024, following the release of its third-quarter 2024 financial results.

The company reported a 6.4% year-over-year decline in net sales to $150.5 million, primarily due to lower sales volumes. Despite the revenue drop, Latham Group managed to expand its gross margin by 250 basis points to 32.4%, thanks to its lean manufacturing and value engineering programs.

However, adjusted EBITDA decreased by 17.3% from the prior year to $29.8 million, and the adjusted EBITDA margin contracted by 260 basis points to 19.8%. The company cited operational disruptions caused by hurricanes, including a week-long plant shutdown, as one of the factors impacting sales and shipments during the quarter.

Latham Group narrowed its full-year 2024 guidance, now expecting net sales of $500 million to $510 million and adjusted EBITDA of $77 million to $83 million. The company anticipates a 15% decline in new pool starts for 2024, reflecting challenging market conditions.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1141792904?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 22:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1141792904","market":"us","top_or_hot":-1,"title":"Stock Track | Latham Group Plunges Over 7% Pre-Market on Disappointing Q3 Results and Weaker 2024 Outlook","media":"Stock Track","content":"<p>Latham Group, Inc. (NASDAQ: SWIM), a leading designer and manufacturer of in-ground residential swimming pools, saw its stock plunge over 7.9% in pre-market trading on November 6, 2024, following the release of its third-quarter 2024 financial results.</p>\n\n<p>The company reported a 6.4% year-over-year decline in net sales to $150.5 million, primarily due to lower sales volumes. Despite the revenue drop, Latham Group managed to expand its gross margin by 250 basis points to 32.4%, thanks to its lean manufacturing and value engineering programs.</p>\n\n<p>However, adjusted EBITDA decreased by 17.3% from the prior year to $29.8 million, and the adjusted EBITDA margin contracted by 260 basis points to 19.8%. The company cited operational disruptions caused by hurricanes, including a week-long plant shutdown, as one of the factors impacting sales and shipments during the quarter.</p>\n\n<p>Latham Group narrowed its full-year 2024 guidance, now expecting net sales of $500 million to $510 million and adjusted EBITDA of $77 million to $83 million. The company anticipates a 15% decline in new pool starts for 2024, reflecting challenging market conditions.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Latham Group Plunges Over 7% Pre-Market on Disappointing Q3 Results and Weaker 2024 Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Latham Group Plunges Over 7% Pre-Market on Disappointing Q3 Results and Weaker 2024 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-06 22:00 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Latham Group, Inc. (NASDAQ: SWIM), a leading designer and manufacturer of in-ground residential swimming pools, saw its stock plunge over 7.9% in pre-market trading on November 6, 2024, following the ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SWIM","symbol_name":"Latham Group, Inc.","start_time":0,"source_url":"","article_id":"1141792904","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1141792904","pubTimestamp":1730901653,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Latham Group, Inc. , a leading designer and manufacturer of in-ground residential swimming pools, saw its stock plunge over 7.9% in pre-market trading on November 6, 2024, following the release of its third-quarter 2024 financial results.The company reported a 6.4% year-over-year decline in net sales to $150.5 million, primarily due to lower sales volumes. Despite the revenue drop, Latham Group managed to expand its gross margin by 250 basis points to 32.4%, thanks to its lean manufacturing and ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SWIM":"Latham Group, Inc."},"translate_title":"由于第三季度业绩令人失望和2024年前景疲软，瑞生集团盘前暴跌超过7%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SWIM":1},"content_text":"Latham Group, Inc. (NASDAQ: SWIM), a leading designer and manufacturer of in-ground residential swimming pools, saw its stock plunge over 7.9% in pre-market trading on November 6, 2024, following the release of its third-quarter 2024 financial results.\nThe company reported a 6.4% year-over-year decline in net sales to $150.5 million, primarily due to lower sales volumes. Despite the revenue drop, Latham Group managed to expand its gross margin by 250 basis points to 32.4%, thanks to its lean manufacturing and value engineering programs.\nHowever, adjusted EBITDA decreased by 17.3% from the prior year to $29.8 million, and the adjusted EBITDA margin contracted by 260 basis points to 19.8%. The company cited operational disruptions caused by hurricanes, including a week-long plant shutdown, as one of the factors impacting sales and shipments during the quarter.\nLatham Group narrowed its full-year 2024 guidance, now expecting net sales of $500 million to $510 million and adjusted EBITDA of $77 million to $83 million. The company anticipates a 15% decline in new pool starts for 2024, reflecting challenging market conditions.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1141792904"}