Pool Corp upgrades full year profit forecast as seasonal buying patterns return

Reuters04-25

April 25 (Reuters) - Pool Corp increased its full-year profit forecast on Thursday, as the company expects sales and gross margin trends to improve with a return to seasonal buying patterns.

The pool products distributor now sees diluted earnings per share for 2024 between $13.19 and $14.19, compared with its earlier forecast of $13.10 to $14.10 per share.

The Covington, Louisiana-based company bills itself as the world's largest wholesale distributor of swimming pool supplies and equipment. It also sells irrigation and landscape products.

"We remain confident in the growth opportunities available through continuous improved execution, strategic product and software additions, targeted expansion and selected acquisitions," said CEO Peter Arvan.

The company, however, missed Wall Street estimates for first quarter adjusted profit on back of softening demand for its pool equipment.

It reported an adjusted profit of $1.85 per share, missing analysts' average expectation of $1.91 per share for the quarter, according to LSEG data.

High interest rates and sticky inflation in the quarter affected new housing construction, impacting demand for the company's pool and landscaping products.

It reported net sales of $1.12 billion. Analysts on average, had expected it to post net sales of $1.13 billion.

(Reporting by Aatreyee Dasgupta and Abhinav Parmar in Bengaluru; Editing by Tasim Zahid)

((Aatreyee.Dasgupta@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2430401972?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-25 19:51","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2430401972","market":"us","top_or_hot":-1,"title":"Pool Corp upgrades full year profit forecast as seasonal buying patterns return","media":"Reuters","content":"<html><body><p>April 25 (Reuters) - Pool Corp    increased its full-year profit forecast on Thursday, as the company expects sales and gross margin trends to improve with a return to seasonal buying patterns. </p><p>   The pool products distributor now sees diluted earnings per share for 2024 between $13.19 and $14.19, compared with its earlier forecast of $13.10 to $14.10 per share.</p><p>   The Covington, Louisiana-based company bills itself as the world's largest wholesale distributor of swimming pool supplies and equipment. It also sells irrigation and landscape products.</p><p>   \"We remain confident in the growth opportunities available through continuous improved execution, strategic product and software additions, targeted expansion and selected acquisitions,\" said CEO Peter Arvan.</p><p>    The company, however, missed Wall Street estimates for first quarter adjusted profit on back of softening demand for its pool equipment.</p><p>       It reported an adjusted profit of $1.85 per share, missing analysts' average expectation of $1.91 per share for the quarter, according to LSEG data.</p><p>       High interest rates and sticky inflation in the quarter affected new housing construction, impacting demand for the company's pool and landscaping products.</p><p>       It reported net sales of $1.12 billion. Analysts on average, had expected it to post net sales of $1.13 billion.</p><p> (Reporting by Aatreyee Dasgupta and Abhinav Parmar in Bengaluru; Editing by Tasim Zahid)</p><p>((Aatreyee.Dasgupta@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pool Corp upgrades full year profit forecast as seasonal buying patterns return</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPool Corp upgrades full year profit forecast as seasonal buying patterns return\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-25 19:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>April 25 (Reuters) - Pool Corp    increased its full-year profit forecast on Thursday, as the company expects sales and gross margin trends to improve with a return to seasonal buying patterns.    The...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2430401972","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430401972","pubTimestamp":1714045894,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"April 25  - Pool Corp    increased its full-year profit forecast on Thursday, as the company expects sales and gross margin trends to improve with a return to seasonal buying patterns.    The pool products distributor now sees diluted earnings per share for 2024 between $13.19 and $14.19, compared with its earlier forecast of $13.10 to $14.10 per share.   The Covington, Louisiana-based company bills itself as the world's largest wholesale distributor of swimming pool supplies and equipment. It also sells irrigation and landscape products.   \"We remain confident in the growth opportunities available through continuous improved execution, strategic product and software additions, targeted expansion and selected acquisitions,\" said CEO Peter Arvan.    The company, however, missed Wall Street estimates for first quarter adjusted profit on back of softening demand for its pool equipment.       It reported an adjusted profit of $1.85 per share, missing analysts' average expectation of $1.91 ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4567":"ESG概念","POOL":"Pool Corporation","BK4588":"碎股","BK4159":"经销商","IE00B64QTZ34.USD":"NEUBERGER BERMAN US SMALL CAP \"A\" (USD) ACC"},"translate_title":"随着季节性购买模式回归，Pool Corp上调全年利润预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"POOL":1},"content_text":"April 25 (Reuters) - Pool Corp    increased its full-year profit forecast on Thursday, as the company expects sales and gross margin trends to improve with a return to seasonal buying patterns.    The pool products distributor now sees diluted earnings per share for 2024 between $13.19 and $14.19, compared with its earlier forecast of $13.10 to $14.10 per share.   The Covington, Louisiana-based company bills itself as the world's largest wholesale distributor of swimming pool supplies and equipment. It also sells irrigation and landscape products.   \"We remain confident in the growth opportunities available through continuous improved execution, strategic product and software additions, targeted expansion and selected acquisitions,\" said CEO Peter Arvan.    The company, however, missed Wall Street estimates for first quarter adjusted profit on back of softening demand for its pool equipment.       It reported an adjusted profit of $1.85 per share, missing analysts' average expectation of $1.91 per share for the quarter, according to LSEG data.       High interest rates and sticky inflation in the quarter affected new housing construction, impacting demand for the company's pool and landscaping products.       It reported net sales of $1.12 billion. Analysts on average, had expected it to post net sales of $1.13 billion. (Reporting by Aatreyee Dasgupta and Abhinav Parmar in Bengaluru; Editing by Tasim Zahid)((Aatreyee.Dasgupta@thomsonreuters.com;))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430401972"}