Latham Group forecasts sales above estimates, shares jump
10/03/2022 18:11
** Swimming pool manufacturer's shares SWIM.O up 7.2% at
$15.47 in afternoon trade
** SWIM sees FY22 sales between $850 mln to $880 mln, far
above Street estimates of $735.15 mln - Refinitiv data
** "Looking ahead to 2022, we are seeing robust continued
interest in pool ownership" - CEO Scott Rajeski
** Co's Q4 revenue jumps 24.1% to $138.9 mln above Street
estimates of $130.6 mln urn:newsml:reuters.com:*:nGNX7XYWF3
** SWIM says strong sales were primarily due to increased
volume across its product lines driven by strong market demand
** Seven of nine brokerages rate the stock "buy" or higher,
two "hold"; their median PT is $26.50 - Refinitiv data
** Including session gains, shares down ~38.1% so far this
year
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))