Pool Corp Boosts FY22 Outlook As Q1 Results Top Estimates

(RTTNews) - Pool Corp. (POOL) on Thursday reported that net income for the first quarter surged 82 percent to $179.26 million or $4.41 per share from $98.66 million or $2.42 per share in the prior-year quarter.

Excluding the impact from ASU 2016-09 in both periods, adjusted earnings for the quarter were $4.23 per share, compared to $2.32 per share for the year-ago quarter.

Net sales for the quarter grew 33 percent to a record of $1.41 billion from $1.06 billion in the same quarter last year.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $3.15 per share on revenues of $1.27 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, Pool raised its earnings guidance to a range of $18.34 to $19.09 per share from the prior outlook range of $17.19 to $17.94 per share. The Street expects earnings of $17.66 per share for the year.