Pool Corporation (POOL)

Pool Corporation Stock (POOL) dropped by 3.43% from $336.74 to $325.20 in the trading on Thursday October 19, 2023. The reason why POOL stock down today is due to the Q3 FY23 results and FY23 EPS outlook. The company stated that maintenance activities remained stable, denoting steady demand for non-discretionary products, while pool construction-related activities remained weaker as challenging macroeconomic factors continued to weigh heavily on major project consumer spending.

• Sales declining by 9% Y/Y to $1.474 billion, beating the consensus of $1.460 billion.
• EPS of $3.51, down 27% Y/Y, beating the consensus of $3.47..
• Gross profit decreased 15% Y/Y to $428.7 million, with margin contracting 210 basis points Y/Y to 29.1%.
• Outlook: POOL narrowed its FY23 EPS outlook to $13.15 - $13.65 (from $13.14 - $14.14), including the impact of year-to-date tax benefits of $0.15.