Core Viewpoint - Pool Corp. has experienced a significant decline in share price due to disappointing sales and lowered earnings estimates for the year, primarily driven by weak demand for new pool construction and high interest rates affecting consumer spending [3][4][6]. Sales Performance - Shares in Pool Corp. fell by 15.5% in June following a disappointing swimming pool season update [3]. - The company revised its full-year earnings per share (EPS) estimate down from a range of $13.19 to $14.19 to a new range of $11.04 to $11.44 [4]. Market Demand - Management reported "persistently weak demand for new pool construction," predicting a decline in new pool units by 15% to 20% in 2024 compared to 2023, with remodeling activity down by up to 15% [6]. - Previous estimates for remodeling activity had anticipated it to be flat or decline by 10% in 2023 [6]. Economic Factors - High interest rates are pressuring consumer discretionary spending and slowing the housing market, leading to reduced expenditures on big-ticket items like swimming pools [7][10]. - A natural correction is occurring after a boom in spending on leisure activities during lockdowns [11]. Future Outlook - Investors are hopeful that lower interest rates in the future will lead to a normalization in spending on pools [12]. - Despite the decline in new pool unit spending, the installed base of new pools is still growing, which is expected to spur long-term equipment sales [12]. - Maintenance-based revenue is anticipated to support the company while waiting for new pool spending to recover [13].

While we do much to enrich backyard living for families, we also support many environments "Where Outdoor Living Comes to Life." Launched in 2021, our Swimpact! program is a testament to our dedication to our communities and to the belief that every child deserves to learn how to swim. Swimpact! has sponsored swimming lessons and water safety training for 42,000 children and has also sponsored trainings for roughly 3,000 lifeguards. Through our partnership with the YMCA, we are helping create a safer future ...

Shares of housing-related stocks Pool Corp. (POOL -7.25%), Home Depot (HD -4.08%), and Lowe's (LOW -4.62%) were falling in Tuesday's trading, down 6.9%, 4.1%, and 4.6%, respectively, as of 1:12 p.m. ET. While management noted the "non-discretionary" parts of the business remained solid, as one thinks they would, the "discretionary" parts of the business, predicated on general economic conditions, are much weaker than expected. In fact, CEO Peter D. Arvan elaborated the company now expects new pool construct ...

Royal Caribbean Cruises Ltd. (RCL) currently sports a Zacks Rank of 1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has rallied 58.9% in the past year. You can see the complete list of today's Zacks Rank #1 stocks here. The Zacks Consensus Estimate for RCL's 2024 sales and EPS calls for growth of 16.8% and 63.8%, respectively, from the year-ago levels. AMC Entertainment Holdings, Inc. (AMC) currently carries a Zacks Rank #2 (Buy). The company has a trailing ...

Pool Corporation (POOL) shares sank in intraday trading Tuesday, a day after the distributor of pool products slashed its guidance as economic conditions have led to a pullback in consumer discretionary spending and cut into demand. Shares of Pool Corporation sank about 8% as of 11:10 a.m. ET Tuesday to $309.47, their lowest level since October. Shares of rival Leslie's (LESL) were down more than 4%. Pool Corporation said it now believes new pool construction activity could drop 15% to 20% from 2023. It exp ...

Group 1 - U.S. stock futures showed mixed results, with Nasdaq futures gaining approximately 80 points [2] - Pool Corporation's shares decreased by 8.6% to $308.90 in pre-market trading due to a cut in FY24 EPS guidance [3][7] - SolarEdge Technologies, Inc. shares fell 15% to $28.25 after announcing a private offering of $300 million convertible notes due 2029 [6] - Spirit AeroSystems Holdings, Inc. shares dropped 5.4% to $31.30 following Boeing Co.'s proposal to acquire the company, valuing it at around $35 per share [6] - Birkenstock Holding plc shares declined 4.3% to $57.22 after launching a secondary public offering of up to 14 million ordinary shares [6] - Bilibili Inc. shares decreased by 4.3% to $17.03 in pre-market trading [6] - Allegro MicroSystems Inc. shares slipped 3.5% to $26.29 in pre-market trading [6] - Sea Limited shares fell 3.2% to $73.46 after a downgrade from JP Morgan analyst Ranjan Sharma, with a lowered price target from $84 to $78 [6] - NuScale Power Corporation shares fell 3.1% to $9.71 in pre-market trading [6]

hikesterson/iStock via Getty Images Shares of Pool Corporation (NASDAQ:POOL) have been a weak performer over the past year, losing 5% during a significant bull market. Lower construction activity, high rates, and modest disposable income growth have caused consumers to pull back on large home projects, like pool construction. This concern led me to rate shares as a "sell" last October. Since then, they have significantly underperformed, gaining just 6% vs the market's 29% rally. On Monday, POOL significantl ...

Non-discretionary and recurring pool maintenance and repair demand is solid with company execution on track for continued organic share expansion; discretionary pool spending, however, continues to be hampered by the macroeconomic environment Seasonally significant Q2 2024 revenues are below previous expectations driven by lower new pool construction and remodel activity YTD net sales, although sequentially better than Q1 2024, are trending down around 6.5%; full year 2024 net sales are now expected to be i ...

Non-discretionary and recurring pool maintenance and repair demand is solid with company execution on track for continued organic share expansion; discretionary pool spending, however, continues to be hampered by the macroeconomic environment Seasonally significant Q2 2024 revenues are below previous expectations driven by lower new pool construction and remodel activity YTD net sales, although sequentially better than Q1 2024, are trending down around 6.5%; full year 2024 net sales are now expected to be i ...

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