Financial Data and Key Metrics Changes - The company reported net sales of $1.8 billion in the second quarter, a decrease of 5% from the prior year, although this reflects an improved trend compared to previous quarters [16][149] - Gross margin for the quarter finished at 30%, down 60 basis points from the prior year, with expectations for full-year gross margins to be approximately 30% [10][42][14] - Operating income was reported at $271.5 million, with an operating margin of 15.3%, down from 17.6% in the same period last year [35] Business Line Data and Key Metrics Changes - Sales in the building materials segment declined by 10% for the quarter, which is better than the overall new pool builds and remodel expectations [151] - Equipment sales remained flat for the quarter, with improvements noted in specific areas such as lights, pumps, heaters, and parts [151] - The chemicals segment saw a 1% increase in sales, driven by a 3% growth in volume, despite a 2% deflationary impact on price [36] Market Data and Key Metrics Changes - Europe experienced an 11% decline in sales, attributed to tough consumer sentiment and adverse weather conditions [11] - Sales to independent retail pool customers declined close to 6%, reflecting consumer selectivity in discretionary purchases [12] - The company expects around 15% to 20% lower levels of new pool construction compared to the prior year, impacting total sales by approximately 3% for the quarter [3][8] Company Strategy and Development Direction - The company is focused on expanding its network to better serve both professional and do-it-yourself maintenance customers, enhancing customer experience through technology and service programs [15][39] - Strategic initiatives include investments in technology, expansion of the sales center network, and selective acquisitions to support long-term growth [48][39] - The company aims to leverage its digital ecosystem, particularly through the POOL360 platform, to enhance service and convenience for customers [9][139] Management's Comments on Operating Environment and Future Outlook - Management noted that while discretionary spending remains under pressure, nondiscretionary demand is solid and in line with expectations [8] - The company is optimistic about future demand, citing increased inbound calls from consumers despite current hesitance to commit to purchases [148][60] - The outlook for the remainder of the year includes expectations for continued pricing pressure and lower new pool builds, with a collective sales impact estimated at 4% to 5% [46][107] Other Important Information - The Board of Directors increased the quarterly dividend by 9% to $1.20 per share, reflecting confidence in future earnings and strong cash flows [21][138] - The company has opened eight new sales centers this year and continues to enhance its customer-facing technology platform [18][34] - Cash flows from operating activities of $172 million year-to-date are on pace to meet or slightly exceed the target of approximately 100% of net income for the full year [44] Q&A Session Summary Question: How confident is the company in the reset guidance level for the remainder of the year? - Management expressed confidence in the guidance, noting that building material sales are performing better than market indicators suggest, despite a decline in new pool construction [58][65] Question: What is the impact of the recent closures on operating margins? - The $1 million impact from the closure of three sales centers will not recur, and the focus remains on improving supply chain efficiencies to enhance operating margins [63][75] Question: Are there any changes in competitive behavior following Home Depot's acquisition of Heritage? - Management indicated no significant changes in competitive dynamics, maintaining that the same competitors remain in the market [124][108] Question: What are the expectations for operating expense leverage in 2025? - Management anticipates a return to more normalized levels of operating expense leverage as sales growth resumes, although the timing remains uncertain [110][127] Question: What factors could improve gross margin in 2025? - Management highlighted ongoing efforts in strategic pricing, private label expansion, and supply chain improvements as key factors for potential gross margin enhancement [144][159]

Exhibit 99.1 FOR IMMEDIATE RELEASE POOL CORPORATION REPORTS SECOND QUARTER RESULTS Highlights COVINGTON, LA. (July 25, 2024) – Pool Corporation (Nasdaq/GSM:POOL) today reported results for the second quarter of 2024. "The demand for maintenance products supported a solid quarter given the trend for lower consumer spending on high dollar discretionary items. Our second quarter net sales of $1.8 billion, down 5% from the second quarter of 2023, showed an improving trend from the decrease of 7% that we saw in ...

Pool Corp. (POOL) came out with quarterly earnings of $4.98 per share, beating the Zacks Consensus Estimate of $4.90 per share. This compares to earnings of $5.89 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 1.63%. A quarter ago, it was expected that this distributor of supplies for swimming pools would post earnings of $1.87 per share when it actually produced earnings of $1.85, delivering a surprise of -1.07%. Over the la ...

Core Insights - Net sales for the second quarter of 2024 decreased by 5% to $1.8 billion compared to $1.9 billion in the same period of 2023, with strong performance in recurring maintenance products but lower spending on discretionary items reflecting consumer hesitancy [1][62] - Gross profit decreased by 7% to $530.1 million, with a gross margin of 30.0%, down from 30.6% in the second quarter of 2023, impacted by a lower contribution from building materials [25][60] - Operating income for the second quarter of 2024 decreased by 17% to $271.5 million, with an operating margin of 15.3%, down from 17.6% in the same period last year [60][63] - Net income for the second quarter of 2024 decreased by 17% to $192.4 million, with diluted earnings per share down 16% to $4.99 [63][59] Financial Performance - Selling and administrative expenses increased by 7% to $258.7 million in the second quarter of 2024 compared to $240.8 million in the same period of 2023, with operating expenses as a percentage of net sales rising to 14.6% from 13.0% [2][4] - For the six months ended June 30, 2024, net sales declined by 6% to $2.9 billion from $3.1 billion in the same period of 2023, with a gross margin of 30.1%, down from 30.6% [26][36] - Adjusted EBITDA for the first six months of 2024 decreased by 18% to $411.8 million compared to $502.6 million in the same period last year [36][56] Market Trends - The company noted a positive pricing impact of approximately 1% on sales, with a realization of 2% to 3% on product cost increases for equipment, although offset by lower realized net prices on other products [1] - The demand for maintenance products supported sales despite a trend of lower consumer spending on high-dollar discretionary items, indicating a shift in consumer behavior [62] Outlook - The company confirmed its annual earnings guidance range of $11.05 to $11.45 per diluted share, reflecting confidence in long-term growth opportunities in the outdoor living industry [48][22] - Management emphasized a focus on providing exceptional customer experience and strategic growth investments, supported by a strong balance sheet [62][48]

Thirty-five of the 50 community organizations are new to Sports 4 Life funding, further expanding the reach of this powerful initiative. Helping girls of color play, compete and lead – in sports and beyond – for a decade, the program has had a generational impact with many of the participants from the inaugural class now holding leadership positions at the organizations who encouraged them to #KeepPlaying. Read more about their stories here. "As a multi-year partner of the Women's Sports Foundation, and sup ...

The swimming pool products distributor is enduring a challenging 2024, but it's still a good-quality business likely to grow in the future. Wholesale swimming products distributor Pool Corp.'s (POOL -0.14%) shares declined by 22.9% in the first half of 2024, according to data provided by S&P Global Market Intelligence. Moreover, the stock declined 9% after the company updated the market on the swimming pool season and promptly said new pool construction activity in 2024 could be down 15% to 20%. In addition ...

COVINGTON, La., July 11, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq: POOL) announced today that the Company will release its second quarter 2024 earnings results before the market opens on July 25, 2024, and will hold a conference call to discuss the results at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) that same day. The earnings release as well as a live webcast and replay of the conference call will be available on the Company's website at www.poolcorp.com. The conference call can also be a ...

COVINGTON, La., July 11, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq: POOL) announced today that the Company will release its second quarter 2024 earnings results before the market opens on July 25, 2024, and will hold a conference call to discuss the results at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) that same day. The earnings release as well as a live webcast and replay of the conference call will be available on the Company's website at www.poolcorp.com. The conference call can also be a ...

Shares of the United States' largest pool supplies distributor, Pool Corporation (POOL 5.23%), were up 5% as of 1 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence. Is the end of a down cycle finally in sight? These potentially lower interest rates are important to Poolcorp because it generates roughly 14% of its sales from new pool construction. Down 46% from its all-time highs, Poolcorp's stock could be in the early stages of a rebound as its morecyclical business segments ...

POOLCORP (POOL) is seeing a slowdown in pool demand this summer. This Zacks Rank #5 (Strong Sell) recently lowered full year guidance. POOLCORP is the world's largest wholesale distributor of swimming pool and related outdoor living products. It operates about 440 sales centers in North America, Europe and Australia from where it distributes more than 200,000 products to 125,000 wholesale customers. POOLCORP Warns on the Full Year On June 24, 2024, POOLCORP warned on the full year as discretionary pool spen ...