Pool Corporation Reports Q3 2024 Results

Pool (NASDAQ: POOL) Corporation, the largest wholesale distributor of pool supplies globally, reported a 3% decline in total sales to $1.4 billion in Q3 2024. On the earnings call held on October 24, 2024, the company noted adverse economic conditions and a reduction in new pool construction contributed to a 7% decline in diluted earnings per share, now at $3.27. However, maintenance sales showed positive growth, and the company remains optimistic about long-term industry prospects.

Key Takeaways

• Total sales decreased 3% year-over-year to $1.4 billion.
• Diluted earnings per share fell 7% to $3.27.
• Florida sales increased 1%, while Texas and California saw declines.
• New pool construction projected to decline about 20% for the year.
• Full-year EPS guidance maintained at $11.06 to $11.46.

Company Outlook

• Q4 sales expected to align with year-to-date performance.
• Operating expenses forecasted to rise by 4%-5%.
• Long-term growth driven by strategic investments and market share gains.

Highlights

• Positive trends in maintenance and repair services post-storm.
• New centers opened to expand network.
• Demand for outdoor living spaces remains strong, coupled with steady home values.

Q&A Insights

The call included discussions on market conditions, inventory levels, and potential impacts of hurricanes on sales. The company also emphasized its commitment to technology investments to enhance customer experience.

For more insights, Pool Corporation will provide further updates on February 20, 2025, regarding full-year results and guidance for 2025.