Latham Group jumps as Q1 revenue tops Wall Street estimates
12/05/2022 15:50
** Swimming pool manufacturer's shares SWIM.O up ~7.6% at
$10.97
** Co reports 28.8% jump in Q1 net sales to $191.6 mln,
compared with estimates of $176.8 mln, per Refinitiv data
urn:newsml:reuters.com:*:nASA03BXM
** SWIM said it saw strong demand for pools in the quarter
and improved North American fiberglass production
** "We continue to see strong interest in pools as our
dealers book orders through 2022 and into 2023" - President and
CEO Scott Rajeski
** Co also affirms its FY22 outlook; sees sales between $850
mln and $880 mln
** Seven of nine brokerages rate the stock "buy" or higher,
two "hold"; their median PT is $22.50 - Refinitiv
** Including session gain, shares down ~56.2% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))