Pool Corp Boosts FY22 Outlook As Q2 Adj. EPS Tops Estimates
(RTTNews) - Pool Corp. (POOL) on Thursday reported that net income for the second quarter increased to $307.28 million or $7.63 per share from $259.70 million or $6.37 per share in the prior-year quarter.
Excluding the impact from ASU 2016-09 in both periods, adjusted earnings for the quarter were $7.59 per share, compared to $6.18 per share for the year-ago quarter.
Net sales for the quarter grew 15 percent to a record of $2.06 billion from $1.79 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $7.52 per share on revenues of $2.13 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2022, Pool raised its earnings guidance to a range of $18.38 to $19.13 per share from the prior outlook range of $18.34 to $19.09 per share. The Street expects earnings of $18.89 per share for the year.
"We expect continued growth in the second half of the year, on top of the substantial growth that we experienced last year," said Peter Arvan, president and CEO.
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