News about Pool Corporation

Pool Corporation (POOL) reported third-quarter net sales of $1.5 billion, up 4%, with pricing contributing 3% and volume 1%, and adjusted diluted EPS of $3.40, up $0.01. Gross margin fell 60 basis points to 29.0% on higher inbound freight costs and customer mix, while SG&A rose 5% to $264.1 million on performance-based compensation and strategic initiative fees. Operating cash flow for the first nine months rose 47% to $419.8 million, and the company returned $338.1 million to shareholders through dividends and buybacks. Pool kept full-year adjusted EPS guidance at $10.87 to $11.17 and said October sales were up about 2%, though management remained cautious on housing turnover and discretionary spending and expects a difficult fourth-quarter comparison. The stock rose 10.39% on the day.