POOL Stock Recent News

Pool Corp (POOL) anticipates second-quarter performance to be hampered by weak demand for new pool construction, lower remodel activity and the macroeconomic environment.

Pool Corporation (POOL) shares sank in intraday trading Tuesday, a day after the distributor of pool products slashed its guidance as economic conditions have led to a pullback in consumer discretionary spending and cut into demand.

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 80 points on Tuesday.

POOL Corporation shares have underperformed the market, losing 5% in the past year during a bull market, and POOL significantly cut guidance, leading to a 10% drop after hours. Pool construction activity is particularly weak, more than offsetting stability in maintenance-related work. Slow income growth, high rates, and decreased construction activity may continue to impact POOL's performance, making it an unattractive investment at 26x earnings.

Pool Corp. POOL, -0.00%, a distributor of swimming-pool supplies, slashed its profit outlook for this year, citing “persistently weak” demand for new pool construction as more expensive basics weigh on discretionary spending. The company said it expected per-share profits of $11.04 to $11.44, down from an earlier outlook of $13.19 to $14.19.

Highlights Non-discretionary and recurring pool maintenance and repair demand is solid with company execution on track for continued organic share expansion; discretionary pool spending, however, continues to be hampered by the macroeconomic environment Seasonally significant Q2 2024 revenues are below previous expectations driven by lower new pool construction and remodel activity YTD net sales, although sequentially better than Q1 2024, are trending down around 6.5%; full year 2024 net sales are now expected to be in a similar range Annual earnings guidance range lowered to $11.04 to $11.44 per diluted share from previous range of $13.19 to $14.19 COVINGTON, La., June 24, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) today provided an update on the swimming pool season and revised its 2024 earnings guidance.

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COVINGTON, La., June 05, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that its Board of Directors (the Board) appointed Kevin M. Murphy to serve as a director upon recommendation of the Nominating and Corporate Governance Committee. The Board appointed him to serve effective June 3, 2024, until the 2025 annual meeting of shareholders, at which time he will stand for election by Pool Corporation's shareholders. With this appointment, the Board increased its size from eight to nine members.

COVINGTON, La., May 28, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq: POOL) announced today that it will participate in the following investor events in the month of June 2024:

POOL benefits from the POOL360 platform, expansion strategy and solid brand presence. However, softness in new pool construction and high costs remain a concern for the company.