COVINGTON, La., July 30, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that its Board of Directors declared a quarterly cash dividend of $1.20 per share. The dividend will be payable on August 29, 2024, to holders of record on August 15, 2024. POOLCORP is the world's largest wholesale distributor of swimming pool and related backyard products. POOLCORP operates approximately 445 sales centers in North America, Europe and Australia, through which it distributes more than 200,000 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to POOL CORPORATION (Exact name of registrant as specified in its charter) Delaware 0-26640 36-3943363 (State or other jurisdiction (Commission File Number) 109 Northpark ...

Core Viewpoint - Pool Corporation (POOL) reported second-quarter 2024 results with earnings and revenues exceeding the Zacks Consensus Estimate, although both metrics declined compared to the prior-year quarter [1][3]. Earnings & Revenues Discussion - Adjusted earnings per share (EPS) for the second quarter were $4.98, surpassing the Zacks Consensus Estimate of $4.90, but down from $5.89 in the prior-year quarter [3]. - Quarterly net revenues reached $1.77 billion, beating the consensus mark of $1.74 billion, but reflecting a 4.7% year-over-year decline due to lower consumer spending on discretionary items and poor sales in building materials [3]. Operating Highlights & Expenses - Cost of sales for the quarter was $1.24 billion, down from $1.29 billion in the prior-year quarter, aligning with estimates [4]. - Gross profit margin was 30%, a decrease of 60 basis points from 30.6% in the previous year [4]. - Operating income fell 17% year over year to $271.5 million, with an operating margin of 15.3%, down 230 basis points from the prior-year quarter [5]. - Selling and administrative expenses increased by 7.4% year over year to $258.7 million, driven by higher spending on network expansion and technology initiatives [5]. Net Income - Net income for the quarter was $192.4 million, down from $232.3 million in the prior-year quarter [6]. Balance Sheet - As of June 30, 2024, cash and cash equivalents were $96.9 million, up from $53.2 million a year earlier [7]. - Net long-term debt decreased to $1.07 billion from $1.15 billion in the prior-year quarter [7]. - Goodwill remained relatively stable at $699.7 million compared to $699.9 million in the previous year [7]. Cash Flow - For the six months ended June 30, 2024, net cash provided by operating activities was $172.1 million, down from $376.8 million in the prior-year period [8]. 2024 Guidance - For 2024, Pool Corporation expects adjusted EPS to be in the range of $11.05 to $11.45 [9].

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]

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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 ...