Pool Corp Q3 Earnings Top Estimates

Pool Corp POOL reported third-quarter FY22 sales growth of 14% year-on-year to $1.615 billion, marginally beating the consensus of $1.61 billion. EPS of $4.78 beat the consensus of $4.61.
Gross profit increased 14% Y/Y to $503.7 million, while gross margin contracted 10 basis points Y/Y to 31.2%.
Selling and administrative expenses rose 17% Y/Y to $239.8 million.
The operating margin contracted 50 basis points to 16.3%, and the operating income for the quarter rose 11% to $263.9 million.
Cash and equivalents totaled $49.08 million as of September 30, 2022. Net cash provided by operating activities for the nine months declined to $307.5 million from $359.1 million a year ago.
Adjusted EBITDA for nine months was $959.2 million, an increase of 30% Y/Y.
"We've observed increased demand for higher value products and customizations for new pools and remodeling projects, even though the issuance of new pool permits year-to-date has moderated," said CEO Peter D. Arvan.
Outlook: Pool sees FY22 EPS of $18.50 - $19.05 (prior view $18.38 - $19.13), against the consensus of $18.85.
Price Action: POOL shares are trading higher by 2.39% at $305.24 on the last check Thursday.

Momentum34.19

Growth33.57

Quality47.41

Value8.92

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