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Mar 31, 2024
Pool Corp. Q1 2024 Earnings Report
Reported first quarter results, exceeding $1.0 billion in net sales for the fourth consecutive year, despite macroeconomic headwinds and mixed weather.
Key Takeaways
Pool Corporation reported a decrease in net sales by 7% to $1.1 billion compared to Q1 2023. Operating income decreased by 25% to $108.7 million, with an operating margin of 9.7%. Diluted EPS decreased to $2.04, or $1.85 excluding tax benefits. The company is updating its annual earnings guidance to $13.19 to $14.19 per diluted share.
Net sales reached $1.1 billion, surpassing $1.0 billion for the fourth consecutive year in Q1.
Operating income amounted to $108.7 million, resulting in a 9.7% operating margin.
Net cash provided by operations improved by 41% to a Q1 record of $145.4 million.
Q1 2024 diluted EPS was $2.04, or $1.85 without tax benefits.
Forward Guidance
The company is updating its annual earnings guidance range to $13.19 to $14.19 per diluted share to reflect the impact of year-to-date tax benefits. They expect sales and gross margin trends to improve with a return to seasonal buying patterns and are confident in maintaining market share gains.
Positive Outlook
- Expect sales and gross margin trends to improve with a return to seasonal buying patterns.
- Encouraged by the stability of the maintenance business.
- Confident that they are holding onto market share gains from the past few years.
- Confident in the growth opportunities available through continuous improved execution.
- Committed to maintaining their position as the industry leader.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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