Filing Flows › Latham Group (SWIM) › Q3 2026 › vs Q3 2025
Latham Group (SWIM) Q3 2026 vs Q3 2025 (year over year)
Latham Group's revenue rose $20.3M (+13%) from $162M in Q3 2025 to $182M in Q3 2026. The biggest changes: In-ground Swimming Pools +$17.1M (+23%); Covers +$4.8M (+9%); Liners −$1.5M (-5%). Gross margin 36.7% against 35.4% (+1.3 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 36.7% | 35.4% | +1.3 pts |
| Operating margin | 13.0% | 13.3% | -0.3 pts |
| Net margin | 6.6% | 5.0% | +1.6 pts |
| Free cash flow margin | 23.4% | 27.9% | -4.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| In-ground Swimming Pools | $92.4M | $75.4M | $17.1M | +23% |
| Covers | $59.6M | $54.9M | $4.8M | +9% |
| Liners | $30.1M | $31.6M | −$1.5M | -5% |
| Revenue | $182M | $162M | $20.3M | +13% |
| Gross profit | $66.8M | $57.3M | $9.5M | +17% |
| Cost of revenue | $115M | $105M | $10.8M | +10% |
| Operating profit | $23.6M | $21.5M | $2.1M | +10% |
| Operating expenses | $43.2M | $35.8M | $7.4M | +21% |
| Pre-tax earnings | $15.0M | $15.6M | −$561K | -4% |
| Other expense, net | $8.6M | $5.9M | $2.7M | +45% |
| SG&A | $35.9M | $28.6M | $7.3M | +25% |
| Other operating costs | $7.4M | $7.2M | $145K | +2% |
| Net earnings | $12.1M | $8.1M | $3.9M | +49% |
| Income tax | $3.0M | $7.5M | −$4.5M | -60% |
| Depreciation & amortization | $13.5M | $12.9M | $574K | +4% |
| Share-based compensation | $998K | $2.0M | −$982K | -50% |
| Working capital & other | $22.3M | $28.0M | −$5.8M | -21% |
| Operating cash flow | $48.8M | $51.0M | −$2.2M | -4% |
| Free cash flow (OCF − capex) | $42.7M | $45.2M | −$2.5M | -6% |
| Capital expenditures | $6.1M | $5.8M | $309K | +5% |
Questions
How much did Latham Group's revenue grow year over year in Q3 2026?
Latham Group's revenue rose $20.3M (+13%) from $162M in Q3 2025 to $182M in Q3 2026.
What drove Latham Group's revenue change in Q3 2026?
In-ground Swimming Pools +$17.1M (+23%); Covers +$4.8M (+9%); Liners −$1.5M (-5%).