Latham Group (SWIM) Jefferies Global Industrials Conference 2026 summary

Company overview and market positioning

• Operates in fiberglass, vinyl pools, and automatic pool covers, holding leading market share in all three categories.

• Majority of revenue and EBITDA generated in the U.S., with additional presence in Australia, New Zealand, and Canada.

• Differentiated products and scale advantage enable ongoing market share gains, especially in soft market conditions.

• Competitors are mostly smaller, less sophisticated private companies, providing a competitive edge.

Market environment and consumer trends

• U.S. pool market is in trough conditions, with about 58,000 pool starts, similar to 2014 levels.

• Most new pool buyers are cash buyers, as higher interest rates have reduced financed purchases.

• Demand is stabilizing, with consumers adapting to current interest rates and resuming purchase decisions.

• Smaller pools and rectangular designs are trending due to shrinking lot sizes and changing consumer preferences.

Growth strategies and regional expansion

• Significant opportunity in the southern U.S. (Sand States), where fiberglass penetration is much lower than in other regions.

• Marketing campaigns and neighborhood-focused events are driving brand awareness and builder adoption in new markets.

• Builders are increasingly shifting from concrete to fiberglass, supported by training and marketing programs.

• National and hyper-local marketing efforts are cost-effective and scalable, supporting expansion.