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Mar 31, 2021
Pool Corp. Q1 2021 Earnings Report
Reported record results for the first quarter of 2021 and increased 2021 earnings guidance.
Key Takeaways
Pool Corporation reported record first quarter results with net sales increasing by 57% to $1.06 billion and operating income up by 263% to $129.0 million. Diluted EPS increased by 223% to $2.42, and the company increased its 2021 earnings guidance to $11.85 - $12.60 per diluted share.
Record net sales for Q1 2021 with overall growth of 57% and 51% growth in base business.
Record Q1 2021 operating income of $129.0 million, up 263% from Q1 2020 with a 690 basis point improvement in operating margin.
Q1 2021 diluted EPS increase of 223% to a record $2.42, or an increase of 227% to $2.32, excluding tax benefits in both periods and non-cash impairments recorded in Q1 2020.
Net cash provided by operations of $77.1 million, an increase of $57.4 million from the first three months of 2020.
Forward Guidance
Company updates its annual earnings guidance range to $11.85 to $12.60 per diluted share, including the impact of year-to-date tax benefits of $0.10.
Positive Outlook
- Industry-leading position
- Strong demand trends
- Solid backlog of projects
- Outstanding results in the first quarter of 2021
- Increased confidence in growth through the remainder of the year
Challenges Ahead
- Tougher year-over-year comparisons
- Potential industry capacity constraints
Historical Earnings Impact
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Avg. Return Before/After Earnings
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