Latham Group sees FY25 revenue $535M- $565M, consensus $529.78M

“Latham has entered 2025 in a strong competitive position, with leadership in the growing fiberglass pool category and greater representation and market presence in the Sand States, which account for approximately two-thirds of new U.S. pool starts annually. Additionally, we have considerable opportunities to expand the adoption of automatic safety covers. We further strengthened our position in this growing category by recently acquiring two of our smaller autocover dealers. These factors support our confidence in our ability to continue to outperform the U.S in-ground pool market. “Industry conditions heading into this year are slightly more favorable than one year ago, but we believe trough market conditions are likely to continue through much of 2025. Therefore, we are managing to new U.S. pool starts in 2025 that approximate 2024 levels, but we have the ability to quickly and efficiently ramp-up to capture any increase in market demand. “Guidance for Latham’s full year 2025, contained in the table below, represents year-on-year sales growth of 8% at the midpoint, primarily driven by market share gains in fiberglass pools and the benefits of the Coverstar Central acquisition. Adjusted EBITDA growth of 19% at the midpoint reflects the significant operating leverage inherent in our business model and takes into account increased spending on growth initiatives. Capital expenditures are expected to be approximately $30 million at the midpoint, an increase of $10 million over 2024 levels, due to planned initiatives to drive fiberglass adoption in the Sand States,” Mr. Rajeski concluded.