Pool Corp beats profit estimates on demand for swimming pool maintenance
Feb 20 (Reuters) - Pool Corp POOL.O on Thursday beat fourth-quarter profit estimates owing to sustained demand for pool maintenance services, especially in Florida on the back of damages caused by hurricanes.
The Covington, Louisiana-based company bills itself as the world's largest wholesale distributor of swimming pool supplies and equipment and also sells irrigation and landscape products.
The company's quarterly adjusted profit was 97 cents per share, beating analysts' estimate of 90 cents, according to LSEG-compiled data.
Pool's shares rose 1.7% before the bell.
"Maintenance activities remained stable throughout 2024, reflecting steady demand for non-discretionary products, while sales of discretionary products for new pool construction and remodeling were softer, impacted by macroeconomic conditions," Pool Corp noted.
The pool products distributor sees profit per share for the year at between $11.08 and $11.58, compared with its 2024 profit of $11.30 per share.
The company's net sales fell 2% to $987.5 million in the quarter ended December 31. However, they beat estimates of $963 million.
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