LATHAM GROUP Reports FY2023 Q2 Earnings Results for Period Ending August 8 2023
August 25, 2023
🌥️Earnings Overview
For the quarter ending August 8 2023, LATHAM GROUP ($NASDAQ:SWIM) reported total revenue of USD 177.1 million, a decrease of 14.3% compared to the same quarter in FY2022. Net income for the same quarter was USD 5.7 million, a 33.0% increase from the previous year.
Market Price
On Tuesday, the LATHAM GROUP reported its fiscal year 2023 second quarter financial earnings results for the period ending August 8, 2023. The company’s stock opened at $4.2 and closed at $4.4, soaring 16.8% from the previous closing price of $3.8. The performance of the company was impressive, with its stocks growing significantly higher than expected despite the economic downturn caused by the pandemic. The impressive growth can be attributed to the company’s ability to innovate and adapt to the ever-changing market conditions. The company has also taken steps to diversify its portfolio and is now offering a variety of services and products that cater to different customer segments.
Furthermore, the company has made significant investments in research and development, which has enabled it to stay ahead of the competition and capitalize on new opportunities. The strong performance of the LATHAM GROUP in the second quarter of 2023 is a testament to its commitment to providing quality products and services to its customers. Moreover, it is an indication of the company’s potential to deliver sustained growth over time. Going forward, investors can expect further performance improvements as the company continues to improve its processes and expand its product line. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Latham Group. More…
| Total Revenues | Net Income | Net Margin |
| 612.17 | -15.81 | -2.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Latham Group. More…
| Operations | Investing | Financing |
| 83.68 | -51.27 | -11.55 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Latham Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 871.14 | 484.94 | 3.37 |
Key Ratios Snapshot
Some of the financial key ratios for Latham Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 29.8% | 6.1% | 2.5% |
| FCF Margin | ROE | ROA |
| 6.1% | 2.5% | 1.1% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of LATHAM GROUP‘s financials and our Risk Rating process has revealed that they are a medium risk investment in terms of financial and business aspects. Our analysis has revealed two risk warnings in the Balance Sheet and the Cashflow Statement. To see the warnings and get more details about LATHAM GROUP, register on goodwhale.com. We can provide you with comprehensive reports on their financials and business operations to help you make an informed decision about investing in the company. More…
Peers
It has a strong competition with GMS Inc, Volution Group PLC, Armstrong Flooring Inc. Latham Group Inc has been able to maintain its position as the top company in the industry by offering a wide range of products, innovative designs, and excellent customer service.
– GMS Inc ($NYSE:GMS)
GMS Inc is a leading global provider of integrated facility solutions. It has a market cap of 1.97B as of 2022 and a return on equity of 26.33%. The company provides a comprehensive range of services to customers in the commercial, industrial, institutional and governmental sectors. Services include janitorial, security, landscaping, maintenance, engineering, construction and project management.
– Volution Group PLC ($LSE:FAN)
Evoqua Water Technologies PLC provides water treatment solutions and services in the United States, Europe, the Middle East, Africa, Asia Pacific, and internationally. The company operates through Americas, Europe, and International segments. It offers a suite of product solutions to support its customers’ full water lifecycle needs, including water intake, desalination, wastewater treatment, water reuse, and industrial water treatment. The company also provides operations, maintenance, and service support for its customers through a global network of service technicians and mobile service assets. In addition, it offers mobile water and wastewater solutions for temporary or emergency needs. The company serves municipal, commercial, and industrial customers. Evoqua Water Technologies PLC was founded in 2008 and is headquartered in Warrendale, Pennsylvania.
Summary
LATHAM GROUP, a company whose stock price moved up on the day of their FY2023 Q2 earnings results, reported total revenue of USD 177.1 million, a 14.3% decrease from the same quarter the previous year. Net income was USD 5.7 million, however, which was a 33.0% increase from the same quarter the previous year. This suggests that while the company’s total revenue has decreased, its efficiency in managing its finances has improved. Investors may be encouraged by this trend and consider investing in the company, with the hope that the improved efficiency will be maintained and the total revenue will begin to rise in subsequent quarters.
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