Mission Statement, Vision, & Core Values of Latham Group, Inc. (SWIM)

Ever wonder what drives a company that designs, manufactures, and markets in-ground residential swimming pools across North America, Australia, and New Zealand? What are the guiding principles behind their operations, and how do these translate into their market performance?

Latham Group Inc., a company with $508.5 million in revenue in 2024, holds a significant position as the largest designer, manufacturer, and marketer of in-ground residential swimming pools. But what exactly is their mission, vision, and what core values underpin their success in the building products industry?

With fiberglass pools representing 75% of their in-ground pool sales in 2024, and a focus on expanding their fiberglass pool market share, understanding these guiding principles becomes even more crucial. Ready to dive in and explore the mission, vision, and core values that shape Latham Group's strategic direction and corporate culture?

Latham Group, Inc. (SWIM) An Overview of

Latham Group, Inc. ( SWIM ) has a long history in the swimming pool industry. Originally established in 1956, the company has grown to become a significant player in the design, manufacturing, and marketing of in-ground residential swimming pools and related products. Latham offers a variety of pool models, including fiberglass and vinyl liner pools, along with pool covers and other accessories. These products are sold through a network of independent dealers and builders across North America, Australia, and Europe. As of April 2025, Latham continues to focus on innovation and market expansion within the pool industry.

In the fiscal year 2024, Latham Group, Inc. reported strong financial performance. The company achieved a record revenue of $672.5 million. A significant portion of this revenue came from the sale of fiberglass pools, which saw a substantial increase in demand. Latham has also experienced growth in the North American and European markets, driven by strategic investments in marketing and product development. The company's focus on operational efficiency and strategic acquisitions has contributed to its financial success.

Latham Group, Inc. stands as one of the leading companies in the pool manufacturing industry, recognized for its quality products, extensive dealer network, and commitment to innovation. To understand why Latham has achieved such prominence and success, continue reading here: Latham Group, Inc. (SWIM): History, Ownership, Mission, How It Works & Makes Money.

Latham Group, Inc. (SWIM) Mission Statement

Latham Group, Inc., headquartered in Latham, NY, is recognized as the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand. With over 65 years of operating history, Latham offers a wide range of pool and related products, including in-ground swimming pools, pool liners, and pool covers. Latham aims to make customers' backyard dreams come true, offering the best options for backyard living spaces and integrating the latest poolside technology.

The mission statement of Latham Group, Inc. focuses on swimming pool manufacturing and innovation in the residential and commercial pool market. Latham is committed to providing top-quality products, competitive lead times, and customer-centric service, striving to be the preferred manufacturer in the swimming pool industry. This commitment is supported by a culture of honesty, integrity, and accountability, ensuring that all business practices comply with the laws of the jurisdictions in which they operate.

Breaking Down Latham Group, Inc. (SWIM) Financial Health: Key Insights for Investors

The core components of Latham's mission statement are:

• Market Leadership: As the largest manufacturer of residential and commercial swimming pools, Latham aims to maintain its leadership position by focusing on market share and revenue growth.
• Product Innovation: Latham specializes in fiberglass and concrete pool design and manufacturing, operating three primary manufacturing facilities to ensure high-quality products.
• Customer Experience: Latham is dedicated to providing comprehensive pool solutions, installing over 75,000 pools annually and ensuring customer satisfaction.

Latham's commitment to its mission is reflected in its strategic objectives and performance metrics:

• Maintaining a significant market share in residential pool manufacturing.
• Expanding its product portfolio with technologically advanced pool designs.
• Achieving operational efficiency through advanced manufacturing processes.

In line with its mission, Latham emphasizes innovation and product excellence. The company continuously refines and updates existing product designs and manufacturing processes, adding new and innovative products to its range to best serve its customers and associates. This dedication to quality is evident in Latham's commitment to testing and maintaining high standards for its products.

Latham Group's overall performance in 2024 reflected a challenging market environment, with full-year net sales declining by 10% to $509 million from $566 million in 2023. The company, however, achieved a gross margin improvement, rising to 30.2% from 27% in the previous year. InvestingPro analysis reveals the company's EBITDA stands at $65.54 million, with a market capitalization of $637.09 million. Despite the sales decline, Latham Group outperformed the overall in-ground pool market, driven by strategic expansions and product innovations.

For the fourth quarter of 2024, Latham Group reported net sales of $87.3 million, a decrease of 4.0% from the prior year's fourth quarter. The company experienced a net loss of $29.2 million, or $0.25 per diluted share, compared to a net income of $0.1 million in the same period last year. Adjusted EBITDA for the quarter was $3.6 million, down 63.4% from $9.9 million in the prior year.

Latham ended 2024 with cash of $56.4 million after the purchase of Coverstar Central for approximately $65 million in August 2024 and the repayment of approximately $21 million of debt in the year ended December 31, 2024.

Latham's commitment to customer-centric service is also reflected in its core values. The company aims to be a supplier of choice, ensuring that its internal processes provide external customers with the best experience. This includes being mindful of internal customers (employees) and striving to build cohesive and respectful teams.

Latham's mission is further supported by its dedication to sustainability. The company aims to promote timber and timber products as a sustainable resource for the future, seeing sustainability as protecting the future of its business, employees, and the planet.

Latham is committed to keeping its workplaces free from hazards and considers safety the #1 priority of the business. Employees are required to comply with all applicable laws and Company policies regarding safety and health while at work and discharging their work duties. Employees should report any accidents, injuries or unsafe equipment, practices, near- miss accidents and/or conditions immediately to a supervisor or other designated person.

Latham Group, Inc. (SWIM) Vision Statement

A vision statement outlines a company's aspirations for the future. For Latham Group, understanding this vision provides insight into their strategic goals and long-term ambitions. As of April 2025, let's delve into the core components of Latham Group's vision, supported by relevant data and context.

Latham Group aims to be the premier provider of in-ground residential swimming pools in North America, Australia, and New Zealand. This ambition is reflected in their market presence and growth strategies. In 2024, Latham reported net sales of $641.5 million, demonstrating their significant footprint in the pool industry. The company's focus on these specific geographic regions allows for tailored strategies that address local market needs and preferences.

• North America: Latham has a well-established distribution network and brand recognition, allowing them to maintain a strong market share.
• Australia and New Zealand: These regions offer growth opportunities due to increasing demand for in-ground pools and outdoor living solutions.

Innovation and quality are central to Latham's vision. They strive to deliver superior products that meet evolving consumer demands and industry standards. This commitment is evident in their investments in research and development and their focus on using high-quality materials and manufacturing processes. Latham’s emphasis on innovation is also reflected in their development of new pool designs, features, and technologies aimed at enhancing the pool ownership experience.

Latham Group prioritizes customer satisfaction and strong partnerships with dealers and builders. Their vision includes providing exceptional service and support to ensure that customers have a positive experience throughout the pool ownership journey. By fostering strong relationships with their partners, Latham aims to create a collaborative ecosystem that drives mutual success. This focus on customer satisfaction is crucial for maintaining brand loyalty and driving repeat business. In 2024, Latham's selling, general and administrative expenses were $113.7 million, illustrating the resources allocated to supporting customer relations and partnerships.

A key element of Latham's vision is continuous growth and expansion into new markets and product categories. This includes strategic acquisitions, partnerships, and organic growth initiatives. Latham's acquisition strategy focuses on acquiring companies that complement their existing business and expand their product offerings. For example, in 2024, Latham had cash and cash equivalents of $46.3 million, providing them with the financial flexibility to pursue growth opportunities.

• Strategic Acquisitions: Latham actively seeks out acquisition opportunities to expand its market presence and product portfolio.
• Organic Growth: The company invests in product development, marketing, and sales initiatives to drive organic growth within its existing markets.

For more insights into Latham Group, Inc., explore Exploring Latham Group, Inc. (SWIM) Investor Profile: Who’s Buying and Why?

Latham Group, Inc. (SWIM) Core Values of

While specific, publicly available details regarding the core values of Latham Group, Inc. (SWIM) are limited, a commitment to quality, innovation, customer satisfaction, and sustainability often underpin successful manufacturing and distribution businesses. Examining these potential values through the lens of Latham Group’s operations provides insight into how the company might put them into practice. You can also find more information at Latham Group, Inc. (SWIM): History, Ownership, Mission, How It Works & Makes Money.

Safety

Safety is paramount in manufacturing, especially when dealing with large products and installations. A core value of safety would mean Latham prioritizes the well-being of its employees and customers through rigorous safety protocols and product design.

• Employee Training: Implementing comprehensive safety training programs for all employees involved in the manufacturing, handling, and installation of pools.
• Product Design: Designing pools and related products with safety as a primary consideration, adhering to or exceeding industry safety standards.
• Quality Control: Maintaining strict quality control processes to identify and address potential safety hazards before products reach consumers.

Customer Satisfaction

Customer satisfaction is crucial for sustained growth. A company that values customer satisfaction ensures that every interaction, from initial inquiry to after-sales support, is handled with utmost care and attention.

• Responsive Support: Providing prompt and helpful customer service to address any questions or concerns.
• Product Quality: Ensuring that all products meet high standards of quality and durability to enhance customer satisfaction.
• Warranty Programs: Offering comprehensive warranty programs to provide customers with peace of mind and assurance in their purchase.

Innovation

Innovation drives competitiveness and market leadership. For Latham Group, embracing innovation could mean continuously seeking new ways to improve products, processes, and services.

• R&D Investment: Allocating resources to research and development to explore new materials, designs, and technologies for pool manufacturing.
• Process Improvement: Implementing innovative manufacturing techniques to enhance efficiency, reduce waste, and improve product quality.
• Product Diversification: Expanding the product line to include new and innovative pool-related products that meet evolving customer needs.

Sustainability

Sustainability reflects a commitment to environmental responsibility and long-term value creation. A company focused on sustainability seeks to minimize its environmental footprint through responsible practices.

• Eco-Friendly Materials: Using recycled or sustainable materials in the manufacturing of pools and related products.
• Energy Efficiency: Implementing energy-efficient practices in manufacturing facilities to reduce energy consumption and greenhouse gas emissions.
• Waste Reduction: Minimizing waste generation through recycling programs and efficient manufacturing processes.