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Sep 30, 2023
Pool Corp. Q3 2023 Earnings Report
Reported third quarter results and narrowed 2023 earnings guidance.
Key Takeaways
Pool Corporation reported net sales of $1.5 billion, a 9% decrease compared to the record high in Q3 2022. Diluted EPS was $3.51, or $3.50 without tax benefits. The company narrowed its annual earnings guidance to $13.15 - $13.65 per diluted share.
Net sales reached $1.5 billion, marking the second-highest third quarter in company history.
Operating income was $194.4 million with an operating margin of 13.2%.
Q3 2023 diluted EPS was $3.51, or $3.50 excluding tax benefits.
Annual earnings guidance range narrowed to $13.15 - $13.65 per diluted share.
Forward Guidance
Pool Corporation narrowed its annual earnings guidance to a range of $13.15 to $13.65 per diluted share, including a year-to-date tax benefit of $0.15. The company remains confident in long-term growth opportunities through improved execution, product additions, new locations, and acquisitions.
Positive Outlook
- Company maintains favorable pricing and profitability.
- Long-term growth opportunities available organically.
- Continuously improved execution.
- Strategic product additions.
- Targeted new locations.
Challenges Ahead
- Challenging macroeconomic factors continue weighing heavily on major project consumer spending.
- Pool construction-related activities remained weaker
- Lower sales volumes from reduced pool construction activity
- Lower sales volumes from discretionary replacement activity
Historical Earnings Impact
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Avg. Return Before/After Earnings
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