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  "documentTitle": "Latham Pool Company | Results Presentation Deck | 15 slides",
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      "text": "Continue to outpace the U.S. new in-ground pool installation market\nOur Q3 YTD in-ground pool net sales, which were down 23% YoY, continued to outperform the expected 30% decline (2) in U.S. new in-ground pools installations year-over-year for FY'23",
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      "text": "Cost reduction actions are delivering improved margins\nDrove a return to YoY adjusted EBITDA margin (1) expansion in Q3'23\nSequentially, Q3 adjusted EBITDA(1) increased $5 million (or 16%) and adjusted EBITDA margin (1) improved 490 basis points vs. Q2'23 on 9% lower net sales",
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      "text": "Long-term interest in pools remains strong\nHomeowner interest continues as we drove YoY website session growth in Q3 YTD\nIn 2023, the number of North American fiberglass dealers installing greater than 10 pools a year has increased by nearly 100 since 2019",
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      "text": "Strong balance sheet enables us to navigate the current environment\nExpanded liquidity to $153 million (3) in Q3'23\nRepaid $10 million of debt, bringing total debt down to $302 million\nNet Debt Leverage Ratio improved to 2.7x(4) at the end of Q3'23",
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      "text": "(1) See Appendix for the reconciliation of Adjusted EBITDA to net income (loss). Adjusted EBITDA margin is Adjusted EBITDA divided by net sales\n(2) Management estimates\n(3) Calculated by cash and cash equivalents plus availably on the Company's $75 million Revolving Credit Facility as of September 30, 2023\n(4) Calculated by net debt divided by LTM Adjusted EBITDA for the four fiscal quarters ended September 30, 2023. See appendix for the reconciliation of Adjusted EBITDA to net income (loss) and Net Debt and Net Debt Leverage Ratio to the comparable GAAP measure",
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      "text": "Q3 / YTD 2023 Highlights",
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