Filing Flows › Latham Group (SWIM) › Q3 2026 › vs Q2 2026
Latham Group (SWIM) Q3 2026 vs Q2 2026 (quarter over quarter)
Latham Group's revenue fell $15.3M (-8%) from $197M in Q2 2026 to $182M in Q3 2026. The biggest changes: Liners −$30.1M (-50%); Covers +$18.7M (+46%); In-ground Swimming Pools −$3.9M (-4%). Gross margin 36.7% against 35.5% (+1.2 pts).
Latham Group, Q3 2026: revenue $182M (+12% year over year), operating margin 13.0%, net earnings $12.1M, operating cash flow $48.8M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 36.7% | 35.5% | +1.2 pts |
| Operating margin | 13.0% | 12.7% | +0.3 pts |
| Net margin | 6.6% | 6.5% | +0.2 pts |
| Free cash flow margin | 23.4% | 24.3% | -0.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| In-ground Swimming Pools | $92.4M | $96.3M | −$3.9M | -4% |
| Covers | $59.6M | $41.0M | $18.7M | +46% |
| Liners | $30.1M | $60.2M | −$30.1M | -50% |
| Revenue | $182M | $197M | −$15.3M | -8% |
| Gross profit | $66.8M | $70.1M | −$3.3M | -5% |
| Cost of revenue | $115M | $127M | −$12.0M | -9% |
| Operating profit | $23.6M | $25.1M | −$1.5M | -6% |
| Operating expenses | $43.2M | $45.0M | −$1.8M | -4% |
| Pre-tax earnings | $15.0M | $18.9M | −$3.8M | -20% |
| Other expense, net | $8.6M | $6.2M | $2.4M | +38% |
| SG&A | $35.9M | $37.6M | −$1.8M | -5% |
| Other operating costs | $7.4M | $7.4M | −$8K | -0.1% |
| Net earnings | $12.1M | $12.8M | −$698K | -5% |
| Income tax | $3.0M | $6.1M | −$3.1M | -51% |
| Depreciation & amortization | $13.5M | $13.7M | −$217K | -2% |
| Share-based compensation | $998K | $1.6M | −$611K | -38% |
| Working capital & other | $22.3M | $25.5M | −$3.2M | -13% |
| Operating cash flow | $48.8M | $53.5M | −$4.7M | -9% |
| Free cash flow (OCF − capex) | $42.7M | $48.0M | −$5.3M | -11% |
| Capital expenditures | $6.1M | $5.6M | $572K | +10% |
Questions
How much did Latham Group's revenue grow quarter over quarter in Q3 2026?
Latham Group's revenue fell $15.3M (-8%) from $197M in Q2 2026 to $182M in Q3 2026.
What drove Latham Group's revenue change in Q3 2026?
Liners −$30.1M (-50%); Covers +$18.7M (+46%); In-ground Swimming Pools −$3.9M (-4%).