Pool Corp. Q1 2021 Earnings Report
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.
Pool Corp.
Pool Corp.
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