Latham Group (SWIM) Q3 FY2026 earnings: revenue $182 million, up 12.5% on the year

Latham Group, Inc. (SWIM) reported revenue of $182 million for Q3 FY2026, the quarter ended 26 September 2026, up 12.5% on the same quarter a year earlier. Net income was $12 million, up 48.5% on the year, and diluted earnings per share $0.10. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$182 million

+12.5% on the year · -7.7% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

13.0%

13.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$12 million

+48.5% on the year · -5.5% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.10

+42.9% on the year · -9.1% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new, 5 kept.

Quarter net sales rose 12.5%: Net sales were $182.2 million, up 12.5%, including 8.4% organic growth. Price increases and the Freedom Pools acquisition also contributed.
Quarter adjusted EBITDA up 18.1%: Adjusted EBITDA was $45.3 million, up 18.1%, at a 24.8% margin, up 110 basis points, as higher gross margin more than offset higher sales and marketing expenses.
In-ground pool sales grew fastest: In-ground pool sales were $92.4 million, up 22.6%, or 13.9% organically. Management said the increase was driven almost entirely by fiberglass pools.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	182	197	162	-7.7%	+12.5%
Cost of revenue	115	127	105	-9.5%	+10.3%
Gross profit	66.8	70.1	57.3	-4.6%	+16.6%
Gross margin	36.7%	35.5%	35.4%
Selling, general and administrative	35.9	37.6	28.6	-4.7%	+25.5%
Operating income	23.6	25.1	21.5	-5.9%	+9.8%
Operating margin	13.0%	12.7%	13.3%
Interest expense	5.4	5.9	6.1	-8.5%	-10.6%
Pre-tax income	15.0	18.9	15.6	-20.4%	-3.6%
Income tax	3.0	6.1	7.5	-51.5%	-60.3%
Effective tax rate	19.7%	32.4%	47.9%
Net income	12.1	12.8	8.1	-5.5%	+48.5%
Net margin	6.6%	6.5%	5.0%
Diluted EPS	$0.10	$0.11	$0.07	-9.1%	+42.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	48.8	53.5	51.0	-8.8%	-4.4%
Capital expenditure	6.1	5.6	5.8	+10.3%	+5.3%
Free cash flow	42.7	48.0	45.2	-11.0%	-5.6%
Free cash flow margin	23.4%	24.3%	27.9%
Cash from investing	-6.1	-5.4	-5.8
Cash from financing	8.8	-32.1	-1.3
Depreciation and amortisation	13.5	13.7	12.9	-1.6%	+4.5%
Share-based compensation	1.0	1.6	2.0	-38.0%	-49.6%
Diluted shares, weighted	120m	120m	120m	+0.2%	-0.1%
Shares outstanding at period end	118m	118m	117m	+0.2%	+0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	424	411	408	+3.1%	+3.9%
Debt	292	280	281	+4.5%	+4.1%
Operating lease liabilities	25.8	24.3	23.3	+6.1%	+10.9%
Finance lease liabilities	1.8	2.0	2.3	-9.9%	-22.1%
Other liabilities	148	143	129	+3.7%	+14.4%
Total liabilities and equity	892	860	844	+3.7%	+5.7%
Fixed assets	137	136	114	+0.9%	+20.5%
Goodwill	162	162	155	+0.1%	+4.3%
Intangible assets	251	258	275	-2.7%	-8.7%
Cash and equivalents	94.8	43.5	70.5	+118.1%	+34.4%
Receivables	78.9	95.2	81.1	-17.1%	-2.7%
Inventory	86.7	79.6	70.3	+8.9%	+23.3%
Other assets	81.7	86.0	78.2	-5.0%	+4.4%
Total assets	892	860	844	+3.7%	+5.7%

Questions

What was Latham Group's revenue in Q3 FY2026?

Latham Group (SWIM) reported revenue of $182 million for Q3 FY2026, the quarter ended 26 September 2026, up 12.5% on the same quarter a year earlier.

How much did Latham Group earn in Q3 FY2026?

Net income for Q3 FY2026 was $12 million, up 48.5% on the year, and diluted earnings per share $0.10.

When did Latham Group report Q3 FY2026 results?

Latham Group filed its 10-Q for the quarter ended 26 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	139	192	207	189	108	138	177	161	90.9	111	160	150	87.3	111	173	162	100.0	117	197	182
Cost of revenue	96.5	121	139	131	88.6	104	127	113	69.7	80.0	107	102	65.8	78.5	109	105	72.0	80.2	127	115
Gross profit	42.4	70.7	67.6	58.9	19.3	33.4	50.2	48.1	21.2	30.6	53.0	48.7	21.4	32.9	64.0	57.3	27.9	37.2	70.1	66.8
Gross margin	31%	37%	33%	31%	18%	24%	28%	30%	23%	28%	33%	32%	25%	30%	37%	35%	28%	32%	35%	37%
SG&A	47.2	45.2	41.8	26.7	33.1	33.1	30.2	23.4	23.6	26.2	26.6	28.3	27.2	30.6	31.9	28.6	31.4	36.6	37.6	35.9
Operating income	-10.9	6.8	18.6	25.0	-20.4	-6.3	13.4	18.1	-9.0	-2.1	20.0	13.4	-13.0	-4.9	24.7	21.5	-10.7	-6.6	25.1	23.6
Operating margin	-8%	4%	9%	13%	-19%	-5%	8%	11%	-10%	-2%	12%	9%	-15%	-4%	14%	13%	-11%	-6%	13%	13%
Interest expense	3.6	1.8	3.2	4.3	6.6	10.8	4.5	6.0	9.6	5.0	6.0	9.2	4.7	6.4	7.1	6.1	6.2	4.8	5.9	5.4
Pre-tax income	-13.1	2.5	15.3	21.0	-25.0	-17.3	10.6	12.8	-16.2	-7.3	13.7	5.9	-21.0	-10.0	21.1	15.6	-13.2	-11.3	18.9	15.0
Tax rate	n/a	215%	72%	43%	n/a	n/a	46%	52%	n/a	n/a	3%	-1%	n/a	n/a	24%	48%	n/a	n/a	32%	20%
Net income	-6.0	-2.8	4.3	11.9	-19.0	-14.4	5.7	6.2	0.1	-7.9	13.3	5.9	-29.2	-6.0	16.0	8.1	-7.0	-8.5	12.8	12.1
Net margin	-4%	-1%	2%	6%	-18%	-10%	3%	4%	0%	-7%	8%	4%	-33%	-5%	9%	5%	-7%	-7%	6%	7%
Diluted EPS	-$0.04	-$0.02	$0.04	$0.10	-$0.17	-$0.13	$0.05	$0.05	$0.00	-$0.07	$0.11	$0.05	-$0.25	-$0.05	$0.13	$0.07	-$0.06	-$0.07	$0.11	$0.10
Operating cash flow	4.3	-57.5	42.4	20.3	27.1	-14.5	50.8	51.8	28.2	-34.5	52.4	37.2	6.2	-46.9	36.0	51.0	23.3	-47.7	53.5	48.8
Capital expenditure	5.7	6.7	10.1	12.3	10.7	9.9	13.4	4.9	4.9	5.3	4.5	4.0	6.3	3.5	6.9	5.8	9.2	10.5	5.6	6.1
Free cash flow	-1.5	-64.1	32.3	8.1	16.4	-24.4	37.3	46.9	23.3	-39.9	47.9	33.2	-0.1	-50.3	29.1	45.2	14.1	-58.2	48.0	42.7
Buybacks	0.0	258	15.0	0.0	8.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	119m	119m	118m	117m	115m	115m	115m	115m	115m	115m	116m	116m	116m	116m	117m	117m	117m	117m	118m	118m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 26 September 2026, filed 4 November 2026: the filing.