By Sabela Ojea
Latham Group guided for a return to sales growth in fiscal 2025 after two years of declines, when consumers were more mindful about big-ticket purchases such as in-ground pools.
The outlook came after the company reported fourth-quarter loss of $29.2 million, or 25 cents a share, compared with a profit of $111,000, or 0 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast losses of 11 cents per share.
Sales fell 4% to $87.3 million, beating the $85.1 million expected by Wall Street, according to FactSet.
Selling, general, and administrative expenses were $27.2 million, up 15% from the same period a year earlier as the company increased its spending on sales and marketing to drive future growth, among other costs.
For the current year, Latham said it expects sales between $535 million to $565 million, up 8% at the midpoint. Analysts polled by FactSet expected $528.4 million.
Chief Executive Scott Rajeski said the company's investments have positioned it for sales growth and increased profitability in 2025 and beyond.
Shares rose 13% to $6.15 in post-market trading. Through Tuesday's close, the stock has surged 79% over the past 12 months.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 04, 2025 17:05 ET (22:05 GMT)
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