Pool Corp. Q3 2024 Earnings Report
Key Takeaways
Pool Corporation reported Q3 2024 net sales of $1.4 billion, a 3% decrease compared to Q3 2023. The company's performance was supported by steady demand for maintenance products, while discretionary portions of the business experienced pressure. Diluted EPS was reported at $3.27, or $3.26 without tax benefits. The company maintains its annual earnings guidance range of $11.06 - $11.46 per diluted share.
Net sales reached $1.4 billion, a 3% decrease year-over-year.
Gross margin remained consistent at 29.1%.
Operating income decreased 9% to $176.4 million with an operating margin of 12.3%.
Diluted EPS was $3.27, or $3.26 without tax benefits.
Pool Corp.
Pool Corp.
Forward Guidance
Pool Corporation maintains its 2024 full year earnings guidance of $11.06 to $11.46 per diluted share, including the $0.21 tax benefit realized this year.
Positive Outlook
- Committing to investing in continuous improvements to enhance each customer’s experience
- Expanding marketing and technological tools
- Providing the broadest product assortment through long-standing partnerships with vendors
- Optimizing vertical integration capabilities
- Building out digital ecosystem
Challenges Ahead
- Sensitivity of business to weather conditions
- Changes in economic conditions, consumer discretionary spending, the housing market, inflation or interest rates
- Ability to maintain favorable relationships with suppliers and manufacturers
- Extent to which home-centric trends will continue to moderate or reverse
- Competition from other leisure product alternatives or mass merchants