$SWIM
Latham Group, Inc.

2023 Q2 Form 10-Q Financial Statement

#000155837023008864 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2
Revenue $137.7M
YoY Change -28.13%
Cost Of Revenue $104.3M
YoY Change -13.73%
Gross Profit $33.37M
YoY Change -52.77%
Gross Profit Margin 24.23%
Selling, General & Admin $33.06M
YoY Change -26.91%
% of Gross Profit 99.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.258M
YoY Change -2.49%
% of Gross Profit 27.74%
Operating Expenses $33.06M
YoY Change -26.91%
Operating Profit -$6.319M
YoY Change -192.93%
Interest Expense $10.80M
YoY Change 512.12%
% of Operating Profit
Other Income/Expense, Net -$11.01M
YoY Change 125.93%
Pretax Income -$17.30M
YoY Change -801.09%
Income Tax -$2.928M
% Of Pretax Income
Net Earnings -$14.37M
YoY Change 405.92%
Net Earnings / Revenue -10.43%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.13
COMMON SHARES
Basic Shares Outstanding 112.1M
Diluted Shares Outstanding 112.1M

Balance Sheet

Concept 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.02M
YoY Change 194.87%
Cash & Equivalents $55.02M
Short-Term Investments
Other Short-Term Assets $6.579M
YoY Change -43.18%
Inventory $149.6M
Prepaid Expenses
Receivables $102.4M
Other Receivables $5.132M
Total Short-Term Assets $318.7M
YoY Change 1.68%
LONG-TERM ASSETS
Property, Plant & Equipment $105.2M
YoY Change 55.02%
Goodwill $131.2M
YoY Change 1.23%
Intangibles $302.3M
YoY Change -8.83%
Long-Term Investments $25.13M
YoY Change 5.14%
Other Assets $9.050M
YoY Change 96.23%
Total Long-Term Assets $611.0M
YoY Change 1.58%
TOTAL ASSETS
Total Short-Term Assets $318.7M
Total Long-Term Assets $611.0M
Total Assets $929.7M
YoY Change 1.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.84M
YoY Change -12.56%
Accrued Expenses $53.60M
YoY Change -6.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $3.250M
YoY Change 0.0%
Total Short-Term Liabilities $106.3M
YoY Change -14.32%
LONG-TERM LIABILITIES
Long-Term Debt $357.2M
YoY Change 11.32%
Other Long-Term Liabilities $2.777M
YoY Change 288.94%
Total Long-Term Liabilities $360.0M
YoY Change 11.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $106.3M
Total Long-Term Liabilities $360.0M
Total Liabilities $554.6M
YoY Change 3.71%
SHAREHOLDERS EQUITY
Retained Earnings -$68.94M
YoY Change 33.3%
Common Stock $11.00K
YoY Change -8.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $375.0M
YoY Change
Total Liabilities & Shareholders Equity $929.7M
YoY Change 1.62%

Cashflow Statement

Concept 2023 Q2
OPERATING ACTIVITIES
Net Income -$14.37M
YoY Change 405.92%
Depreciation, Depletion And Amortization $9.258M
YoY Change -2.49%
Cash From Operating Activities -$14.48M
YoY Change -74.81%
INVESTING ACTIVITIES
Capital Expenditures $9.942M
YoY Change 49.14%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$9.942M
YoY Change 49.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 47.09M
YoY Change 19.96%
NET CHANGE
Cash From Operating Activities -14.48M
Cash From Investing Activities -9.942M
Cash From Financing Activities 47.09M
Net Change In Cash 22.39M
YoY Change -188.52%
FREE CASH FLOW
Cash From Operating Activities -$14.48M
Capital Expenditures $9.942M
Free Cash Flow -$24.42M
YoY Change -61.93%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. NATURE OF THE BUSINESS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Latham Group, Inc. (the “Company”) wholly owns Latham Pool Products, Inc. (“Latham Pool Products”) (together, “Latham”), a designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. Latham offers a portfolio of pools and related products, including in-ground swimming pools, pool liners, and pool covers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On December 18, 2018, Latham Investment Holdings, LP (“Parent”), an investment fund managed by affiliates of Pamplona Capital Management (the “Sponsor”), Wynnchurch Capital, L.P. and management acquired all of the outstanding equity interests of Latham Topco., Inc., a newly incorporated entity in the State of Delaware. Latham Topco, Inc. changed its name to Latham Group, Inc. on March 3, 2021.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Reclassifications</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain prior period balances have been reclassified to conform to the current period presentation in the condensed consolidated financial statements and the accompanying notes.</p>
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report.css Edgar Link pending
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swim-20230401x10q_htm.xml Edgar Link completed