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Dec 31, 2022
Pool Corp. Q4 2022 Earnings Report
Reported record results with annual sales growth and operating income increase.
Key Takeaways
Pool Corporation reported a 6% increase in net sales for Q4 2022, reaching $1.1 billion compared to $1.0 billion in Q4 2021. However, net income decreased by 33% to $71.9 million, and earnings per diluted share decreased by 31% to $1.82.
Net sales increased 6% to $1.1 billion in the fourth quarter of 2022.
Operating income decreased 16% to $107.3 million compared to $127.9 million in the same period of 2021.
Earnings per diluted share decreased 31% to $1.82 in the fourth quarter of 2022.
Gross margin decreased 230 basis points to 28.8%.
Forward Guidance
The company expects earnings for 2023 to be in the range of $16.03 to $17.03 per diluted share, including an estimated $0.03 favorable impact from ASU 2016-09.
Positive Outlook
- Increasing demand for non-discretionary maintenance products.
- Expansion of the installed base of pools.
- Continued renovation activity.
- Extensive sales center network will enable solid results.
- Consumer preferences for smart pool products and our expanded ability to efficiently serve the DIY market will be a focus as we expect inflation to moderate in 2023.
Challenges Ahead
- New pool construction levels are challenged against the higher comparison we saw over the last two years.
- Uncertainty presented by short-term market concerns.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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