Latham (US:SWIM)2025-03-05 00:28Financial Performance - Q4 2024 net sales decreased to $87 million from $91 million in Q4 2023[18] - Q4 2024 Adjusted EBITDA decreased to $4 million from $10 million in Q4 2023[18] - Full year 2024 net sales decreased to $509 million from $566 million in 2023[22] - Full year 2024 Adjusted EBITDA decreased to $80 million from $88 million in 2023[22] - The company achieved $4 million in savings from restructuring programs and $9 million from cost reduction actions in 2024[26] Strategic Initiatives & Acquisitions - Coverstar Central acquisition, closed in August 2024, is expected to increase annualized net sales by $20 million and expand annualized Adjusted EBITDA margin by 140 bps[34] - Coverstar New York and Coverstar Tennessee acquisitions are expected to increase annualized net sales by a combined $5 million and Adjusted EBITDA by a combined $1 million[34] - The company is targeting Master Planned Communities, where approximately 30,000 new homes were constructed in 2023, with 75% of the largest communities located in Florida and Texas[10] 2025 Outlook - The company forecasts flat new U S pool starts in 2025 compared to 2024[16, 37] - The company projects net sales between $535 million and $565 million and Adjusted EBITDA between $90 million and $100 million for full year 2025[35] - Capital expenditures are expected to be between $27 million and $33 million in 2025[35]