Pool Corp. Narrows 2017 Earnings Guidance Range - Quick Facts

(RTTNews) - Pool Corp. (POOL) announced the company now expects 2017 earnings guidance range to $4.01 to $4.11 per share. The updated range includes the $0.14 benefit realized in the first and second quarters due to the adoption of ASU 2016-09. Excluding the benefit, the narrowed 2017 earnings guidance range is $3.87 to $3.97. In July, the company projected earnings in a range of $4.12 to $4.32 per share.

Third-quarter earnings per share increased 13% to $1.16 from $1.03, last year. Based on the estimated $4.0 million impact on net sales and $0.5 million in property damages, the company believes the recent weather events negatively impacted earnings per share by approximately $0.02 in the third quarter of 2017.

Third-quarter net sales increased 8% to a record $743.4 million compared to $691.4 million in the third quarter of 2016. Base business sales increased 6%.