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How Latham Group (SWIM) makes money
Latham Group (SWIM) made $182M of revenue in the third quarter 2026 (Q3 2026), +13% from a year earlier. In-ground Swimming Pools brought in $92.4M (51%); Covers brought in $59.6M (33%); Liners brought in $30.1M (17%). Of every dollar of revenue, 37¢ was left as gross profit, 13¢ was left as operating profit, 7¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| In-ground Swimming Pools | $92.4M | 50.7% | -4% | +23% |
| Covers | $59.6M | 32.7% | +46% | +9% |
| Liners | $30.1M | 16.5% | -50% | -5% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $182M | 100.0% |
| Cost of revenue | $115M | 63.3% |
| Gross profit | $66.8M | 36.7% |
| Operating expenses | $43.2M | 23.7% |
| Operating profit | $23.6M | 13.0% |
| Income tax | $3.0M | 1.6% |
| Net earnings | $12.1M | 6.6% |
| Operating cash flow | $48.8M | 26.8% |
| Free cash flow | $42.7M | 23.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $182M | +12% |
| Q2 2026 | $197M | +14% |
| Q1 2026 | $117M | +5% |
| Q4 2025 | $100M | +14% |
| Q3 2025 | $162M | +8% |
| Q2 2025 | $173M | +8% |
| Q1 2025 | $111M | +0.7% |
From Latham Group's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Latham Group make money?
Latham Group (SWIM) made $182M of revenue in the third quarter 2026 (Q3 2026), +13% from a year earlier. In-ground Swimming Pools brought in $92.4M (51%); Covers brought in $59.6M (33%); Liners brought in $30.1M (17%). Of every dollar of revenue, 37¢ was left as gross profit, 13¢ was left as operating profit, 7¢ was left as net earnings.
What is Latham Group's biggest business?
In-ground Swimming Pools: $92.4M in the third quarter 2026, 51% of revenue, +23% from a year earlier.
What is Latham Group's profit margin?
Net earnings were $12.1M, 6.6% of revenue, in the third quarter 2026; the operating margin was 13.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.