Latham Group, Inc. (NASDAQ:SWIM) Q3 2024 Earnings Conference Call November 5, 2024 4:30 PM ET

Company Participants

Casey Kotary - Investor Relations
Scott Rajeski - President and Chief Executive Officer
Oliver Gloe - Chief Financial Officer

Conference Call Participants

Ryan Merkel - William Blair
Andrew Carter - Stifel
Tim Wojs - Baird
Greg Badishkanian - Wolfe Research
Matthew Bouley - Barclays
Susan Maklari - Goldman Sachs
Sean Cowan - Bank of America

Operator

Good afternoon, and welcome to the Latham Group Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Casey Kotary, Investor Relations Representative. Please go ahead.

Casey Kotary

Thank you. This afternoon, we issued our third quarter 2024 earnings press release, which is available on the Investor Relations portion of our website, where you can also find the slide presentation that accompanies our prepared remarks. On today's call are Latham's President and CEO, Scott Rajeski and CFO, Oliver Gloe. Following their remarks, we will open the call to questions.

During this call, the company may make certain statements that constitute forward-looking statements which reflect the company's views with respect to future events and financial performance as of today or the date specified. Actual events and results may differ materially from those contemplated by such forward-looking statements due to risks and other factors that are set forth in the company's Annual Report on Form 10-K and subsequent reports filed or furnished with the SEC as well as today's earnings release. The company expressly disclaims any obligation to update any forward-looking statements, except as required by applicable law.

In addition, during today's call, the company will discuss certain non-GAAP financial measures. Reconciliations of the directly comparable GAAP measures to these non-GAAP measures can be found in the slide presentation that accompanies our prepared remarks, which can be found on our Investor Relations website.

I'll now turn the call over to Scott Rajeski.

Scott Rajeski

Thanks, Casey and thank you all for participating in today's call to discuss our third quarter results and review our business outlook.

Our third quarter performance was mostly consistent with our expectations and again demonstrated both Latham's resilience and progress within a challenging industry environment. In terms of this quarter's key takeaways, first market conditions through quarter end played out in line with our initial expectations for an approximate 15% decline in new pool starts this year.