SWIM

EX-99

2 swim-20261103xexhibit99.htm

EX-99

Document

Exhibit 99

Latham Group, Inc. Reports Third Quarter 2026 Financial Results

•Third Quarter Net Sales Increased 12.5%, Led by 8.4% Organic Growth; YTD Net Sales Were Up 11.4% with Organic Growth at 7.9%

•Third Quarter Sand State Sales Increased 21% Driven by Accelerated Growth in Florida and Texas

•Third Quarter Gross Margin Expanded by 130 Basis Points to 36.7% Reflecting Volume Leverage, and the Benefits of Lean Manufacturing and Value Engineering Initiatives

•Reaffirms and narrows Full-Year Guidance for Net Sales Growth to 11.7% and Adjusted EBITDA Growth to 15.2% at the Midpoints

•Expects to Continue to Outperform the U.S. In-Ground Pool Market in 2027

•Board of Directors Approved $100 Million Share Buyback Program

Third Quarter 2026 Financial Highlights:

•Net sales of $182.2 million up 12.5%

•Net income of $12.1 million up 48.5% / net income per diluted share of $0.10

•Adjusted EBITDA of $45.3 million up 18.1% and representing 24.8% of net sales

•

Nine Months 2026 Financial Highlights:

•Net sales of $497.0 million up 11.4%

•Net income of $16.3 million down 10.3% / net income per diluted share of $0.14

•Adjusted EBITDA of $102.0 million up 14.2% and representing 20.5% of net sales

LATHAM, N.Y. – November 3, 2026 – Latham Group, Inc. (Nasdaq: SWIM), the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand, today announced financial results for the third quarter 2026 ended September 26, 2026.

Sean Gadd, President and CEO, said, “We delivered strong third quarter and year-to-date results, demonstrating continued success in material conversion, reinforcing our expectation of further market share expansion, and achieving considerable operating leverage while investing to accelerate growth. Third quarter net sales increased 12.5%, including 8.4% organic growth, led by in-ground pool sales, which grew by 22.6%, or 13.9% organically, year-over-year.

“The substantial increase in in-ground pool sales was driven almost entirely by fiberglass pools, which continue to gain traction for their ease of installation, cost efficiency, durability, lifetime warranty, and low maintenance costs. Autocovers also gained momentum for their safety benefits, cost savings to pool owners, and compatibility with all types of in-ground pools. Cover sales increased 8.7%, led by substantial organic growth of autocovers, which are benefiting from meaningful revenue synergies from the Coverstar dealer acquisitions we completed in the last two years.

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“The Sand States remain a key growth market for Latham, which we believe has the potential to drive a step-change in companywide sales. Sales growth accelerated to 21.1% in the third quarter and increased 16.6% year-to-date, led by strong performance in Florida and Texas.

“We are making meaningful progress in executing the Sand States growth strategy we outlined earlier this year, delivering on key initiatives that position us to drive continued growth. Building on our refined market development framework, we hosted several successful community pool events in targeted Florida neighborhoods, with additional events planned in Florida and Texas before year-end. We also partnered with a national homebuilder to offer Latham fiberglass pools as an option for its new home construction in Florida. There is one Latham pool already installed in a model home, and we look forward to expanding this relationship further. In parallel, we continued to strengthen our sales capabilities, adding field sales resources in Florida, with further expansion planned in Texas and Arizona, while targeted marketing initiatives are gaining traction and contributing to growth.

“Additionally, we completed the build-out of our commercial organization with the appointment of a new Chief Commercial Officer, Todd Antonelli, and the addition of key leadership across sales strategy and sales operations, establishing the foundation for a world-class commercial organization. These capabilities will enable our sales team to pursue growth opportunities more effectively and operate more efficiently.”

Third Quarter 2026 Results Compared to the Prior-Year Period

Net sales increased 12.5% to $182.2 million. The increase in net sales was primarily the result of the organic growth of our in-ground pool sales including sales growth in the Sand States, organic growth of autocovers, and the benefit of recent price increases, together with the acquisition of Freedom Pools earlier this year.

Third Quarter & Nine Month 2026 Net Sales by Product Line

(in thousands)

Fiscal Quarter Ended

Three Fiscal Quarters Ended

September 26, 2026

September 27, 2025

September 26, 2026

September 27, 2025

In-ground Swimming Pools

$

92,442

$

75,377

$

248,487

$

211,711

Covers

59,643

54,893

134,125

123,749

Liners

30,090

31,633

114,352

110,502

$

182,175

$

161,903

$

496,964

$

445,96

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