Filing Flows › Latham Group (SWIM) › Q3 2025
Latham Group (SWIM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Latham Group (SWIM) reported revenue of $162M for the third quarter 2025 (Q3 2025), +8% from a year earlier and -6% from the quarter before. Operating margin was 13.3%, net earnings $8.1M (5.0% of revenue).
Latham Group, Q3 2025: revenue $162M (+8% year over year), operating margin 13.3%, net earnings $8.1M, operating cash flow $51.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $162M | -6% | +8% |
| Gross profit | $57.3M | -10% | +18% |
| Operating profit | $21.5M | -13% | +61% |
| Net earnings | $8.1M | -49% | +38% |
| Operating cash flow | $51.0M | +42% | +37% |
| Free cash flow | $45.2M | +55% | +36% |
What changed
Revenue was $161.9M in Q3 2025, up 8% year over year and down 6% from the previous quarter. In-ground Swimming Pools was the largest line at 47% of revenue. Covers added $7.1M year over year (up 15%), 63% of the total change.
Gross margin was 35.4%, up 3.0 points from a year earlier. Operating profit was $21.5M, a 13.3% margin (up 4.4 points year over year). Of the extra revenue versus a year earlier, 71% reached operating profit, above the 9% margin then. Operating expenses grew 1% against revenue growth of 8%. Net earnings were $8.1M, up 38% year over year. The effective tax rate was 47.9%.
Operating cash flow was $51.0M (up 37% year over year), 629% of net earnings. Non-cash charges added back $12.9M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items added $28.0M. Capital expenditures of $5.8M left free cash flow of $45.2M.
Questions
What was Latham Group's revenue in the third quarter 2025?
Latham Group (SWIM) reported revenue of $162M for the third quarter 2025 (Q3 2025), +8% from a year earlier and -6% from the quarter before.
Was Latham Group profitable in the third quarter 2025?
Operating profit was $21.5M (13.3% of revenue) and net earnings $8.1M.
Source: Latham Group 10-Q on SEC EDGAR.