Stock Track | Latham Group Shares Surge as Q3 Earnings Beat Lifts Outlook

Stock Track11-07

Shares of Latham Group, Inc. (NASDAQ: SWIM) soared 5.16% on Wednesday after the pool equipment maker reported better-than-expected earnings for the third quarter of 2024, despite a decline in revenue.

The company reported a net income of $5.9 million, or $0.051 per share, for the three months ended September 30, 2024, down 4.2% from the same period last year. However, the earnings per share (EPS) figure exceeded analysts' estimates by 1.1%.

Revenue for the quarter fell 6.4% year-over-year to $150.5 million, missing analysts' expectations by 1.1%. Despite the revenue decline, Latham Group's profit margin improved to 3.9% from 3.8% a year ago, driven by lower expenses.

The better-than-expected earnings results appear to have outweighed concerns over the revenue miss, boosting investor confidence in Latham Group's outlook. Analysts project the company's revenue to grow 4.6% annually on average over the next three years, outpacing the 3.3% growth forecast for the U.S. leisure industry.

While the company's shares are down 12% from a week ago, the positive earnings surprise could signal a potential turnaround in Latham Group's performance, supporting the stock's rally on Wednesday.

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(NASDAQ: SWIM) soared 5.16% on Wednesday after the pool equipment maker reported better-than-expected earnings for the third quarter of 2024, despite a decline in revenue....</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":"1192685526","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1192685526","pubTimestamp":1730992488,"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":"Shares of Latham Group, Inc.  soared 5.16% on Wednesday after the pool equipment maker reported better-than-expected earnings for the third quarter of 2024, despite a decline in revenue.The company reported a net income of $5.9 million, or $0.051 per share, for the three months ended September 30, 2024, down 4.2% from the same period last year. 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