Pool Corp Trims FY23 Outlook As Q3 Results Top Estimates
(RTTNews) - Pool Corp. (POOL) on Thursday reported that net income for the third quarter declined to $137.84 million or $3.51 per share from $190.06 million or $4.78 per share in the prior-year quarter.
Excluding the impact from ASU 2016-09 in both periods, adjusted earnings for the quarter were $3.51 per share, compared to $4.76 per share for the year-ago quarter.
Net sales for the quarter decreased 9 percent to $1.47 billion from $1.62 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $3.47 per share on revenues of $1.46 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, Pool lowered its earnings guidance to a range of $13.15 to $13.65 per share from the prior outlook range of $13.14 to $14.14 per share. The Street expects earnings of $13.40 per share for the year.
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