The following is a summary of the Latham Group, Inc. (SWIM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Latham Group's Q1 2024 reported net sales of $110.6 million, a decrease of 19.7% compared to Q1 2023.

• Gross margin increased to 27.7% due to cost reductions, lower material costs, and lean manufacturing initiatives.

• The company posted a net loss of $7.9 million, better than the net loss of $14.4 million in Q1 2023.

• Adjusted EBITDA increased by 11.4% to $12.3 million.

• The company noted deflation in key cost areas such as resins, PVC film, and aluminum.

Business Progress:

• Latham showed strong execution in Q1 2024 with improved production efficiency and new product launches like the Enchantment plunge pool series.

• They're investing in performance-based compensation among other areas for future growth.

• Latham is rolling out the Measure tool faster to simplify the pool measurement process for installers.

• Even with a 15% market downturn in new pool starts, the company noted strong performance in fiberglass pools due to lower consumer cost.

• The company is making moderate changes to meet future demand and plans to introduce new product models and feature-rich lines.

• Latham expects a market rebound in upcoming years and is preparing for this by maintaining a conservative approach and launching new products.

More details: Latham Group IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.