Latham Group Raises FY24 Revenue Guidance From $490M-$520M To $495M-$525M Vs $509.78M Est.
Portfolio Pulse from Benzinga Newsdesk
Latham Group has raised its FY24 revenue guidance from $490M-$520M to $495M-$525M, surpassing the $509.78M estimate. The company attributes this to improved cost structure, productivity gains, and reduced working capital needs. The updated guidance also reflects contributions from the Coverstar Central acquisition. Adjusted EBITDA guidance has been increased by $15 million, with $12 million from organic growth and $3 million from the acquisition.
August 06, 2024 | 8:58 pm
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Latham Group (SWIM) has raised its FY24 revenue guidance to $495M-$525M, surpassing the $509.78M estimate. The company also increased its adjusted EBITDA guidance by $15 million, driven by organic growth and the Coverstar Central acquisition.
The increase in revenue and adjusted EBITDA guidance indicates strong performance and effective management, likely leading to positive investor sentiment and a short-term price increase.
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