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 ...

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 ...

While the decline in new pool construction presents challenges across multiple facets of operations, there is confidence that the downturn mirrors the cyclicality observed historically. Image Source: Zacks Investment Research Year-to-date (from late May to early June 2024), Pool Corp's sales are trending down approximately 6.5% compared with the year-ago period's tally. The decline was likely due to the discretionary components of the business, which are heavily influenced by general economic conditions. Th ...

Pool Corp. updates the market Why Pool Corp.'s sales have disappointed Shares in wholesale swimming pool products distributor Pool Corp. (POOL 0.12%) declined by 15.5% in June, according to data provided by S&P Global Market Intelligence. The move comes after a disappointing swimming pool season update in late June that caused the company to lower its full-year earnings estimates. Given the importance of spring and summer to Pool's yearly sales, management took down its full-year estimate for earnings per s ...