Published on 26 Apr 2024 on Zacks via Yahoo Finance

Pool Corp (POOL) Q1 Earnings Miss Estimates, Decline Y/Y

Pool Corporation POOL reported drab first-quarter 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Also, the top and the bottom line declined from the prior-year quarter's figure. During the quarter, the company’s operations were affected by lower pool construction activity, economic pressures and weather-related constraints.Following the announcement, the company’s shares dropped 2% during trading hours on Apr 25.The company raised its annual earnings guidance range to account for year-to-date tax benefits. It expects sales and gross margin trends to improve with the onset of the swimming pool season, aligning with seasonal buying patterns.

Earnings & Revenues Discussion

During the first quarter, the company reported adjusted earnings per share (EPS) of $1.85, missing the Zacks Consensus Estimate of $1.87. In the prior-year quarter, the company reported an adjusted EPS of $2.46.