Loading...
•
Dec 31, 2023
Pool Corp. Q4 2023 Earnings Report
Pool Corporation reported a decrease in net sales and net income compared to the same period last year, but gross margin increased.
Key Takeaways
Pool Corporation's Q4 2023 results showed a decrease in net sales and net income compared to Q4 2022. Net sales decreased by 8% to $1.0 billion, and net income decreased by 28% to $51.4 million. However, the gross margin increased by 50 basis points to 29.3%.
Net sales decreased 8% to $1.0 billion compared to the fourth quarter of 2022.
Gross profit decreased 7% to $293.8 million, but gross margin increased 50 basis points to 29.3%.
Operating income decreased 26% to $79.3 million.
Net income decreased 28% to $51.4 million, with earnings per diluted share decreasing 27% to $1.32.
Pool Corp.
Pool Corp.
Forward Guidance
The company expects earnings for 2024 to be in the range of $13.10 to $14.10 per diluted share, including an estimated $0.10 favorable impact from ASU 2016-09.
Positive Outlook
- Serving a unique industry
- New pools are being built
- Demand for products to maintain and enhance these pools grows
- Technological advancements
- Product upgrade trends