Pool Corp shares rose 9.53% to $188.87 in early trading, giving the company a market value of about $6.8 billion, after falling about 43% over the past year. Third-quarter net sales reached $1.5 billion, up 4%, with about 3 percentage points from higher prices, and adjusted earnings were $3.40 per diluted share, above the $3.36 analyst estimate. However, gross margin slipped 0.6 percentage points to 29%, operating income fell 3% to $172.2 million, and net income fell 3% to $123 million amid higher costs. The company reaffirmed its full-year adjusted EPS forecast of $10.87 to $11.17, and sales growth accelerated from 2% in the second quarter.
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Original headline: Pool Corp Stock Surges Over 9 % as Third - Quarter Sales and Earnings Top Wall Street Forecasts and Outlook Holds
Read the original on ibtimes.com.au ↗
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