Welcome to our dedicated page for Pool Corporation news (Ticker: POOL), a resource for investors and traders seeking the latest updates and insights on Pool Corporation stock.
Pool Corporation (NASDAQ: POOL) stands as the leading wholesale distributor of swimming pool supplies, equipment, and related leisure products worldwide. With a workforce exceeding 3,400 employees and operations spanning over 300 locations globally, Pool Corp is renowned for its extensive inventory and commitment to customer satisfaction.
The company offers a wide array of products encompassing construction materials, replacement parts, fencing, pool care products, and spas. Serving approximately 80,000 wholesale customers, Pool Corp provides access to more than 160,000 national brand and private label products, ensuring its clientele receives the best value through strategic cost management and optimized supply logistics.
Pool Corp's dedication to growth is evident in its continuous expansion of product offerings and its unwavering focus on delivering exceptional value. The company's goal is to foster growth for its customers' businesses, create opportunities for employees, and enhance returns for shareholders.
Customers include pool builders, remodelers, independent retail stores, and pool repair and service companies. Pool Corp's product range features non-discretionary pool-maintenance items like chemicals and replacement parts, along with pool equipment such as packaged pool kits, cleaners, filters, heaters, pumps, and lights.
Recent Achievements and News:
- Pool Corp announced the release of its second quarter 2023 earnings results on July 20, 2023, with a conference call to discuss the results scheduled for the same day.
- The company's financial performance remains robust, with notable figures including a $10.6 million allowance for doubtful accounts and a $25.9 million inventory reserve as of September 30, 2023.
- Pool Corp continues to maintain a strong base business, excluding sales centers that do not align with its long-term growth strategy.
Pool (Nasdaq/GSM: POOL) has provided an update on the 2024 swimming pool season and revised its earnings guidance. The company reports a 6.5% decline in year-to-date net sales compared to 2023.
Q2 2024 revenues missed expectations due to lower new pool construction and remodeling activities, now anticipated to be down 15%-20% and 15%, respectively, for the year. Consequently, POOL has reduced its annual earnings guidance to $11.04-$11.44 per diluted share, down from $13.19-$14.19.
Despite these challenges, non-discretionary and recurring revenues from pool maintenance and repairs remain robust. POOL is focused on managing expenses, generating free cash flow, and continuing its operational improvements and productivity enhancements.
The company will release Q2 2024 earnings on July 25, 2024, followed by a conference call to discuss the results.
Pool (Nasdaq: POOL) has appointed Kevin M. Murphy as a new director. This appointment increases the Board's size from eight to nine members. Murphy, CEO of Ferguson plc, will serve until the 2025 annual meeting of shareholders. He brings a wealth of experience from his tenure at Ferguson, where he has held various leadership roles since 1999. His expertise in transformation, digital technology, and e-commerce initiatives is expected to add significant value to Pool Pool is a leading wholesale distributor of swimming pool and backyard products, operating approximately 440 sales centers globally, distributing over 200,000 products to about 125,000 wholesale customers.
Pool (Nasdaq: POOL) announced its participation in several investor conferences in June 2024, including the William Blair 44th Annual Growth Stock Conference on June 4, the Baird 2024 Global Consumer, Technology & Services Conference on June 5, the Oppenheimer 24th Annual Consumer Growth & E-Commerce Conference on June 10, and the 2024 Wells Fargo Industrial Conference on June 12.
Pool is the world's largest wholesale distributor of swimming pool and related backyard products, operating approximately 440 sales centers in North America, Europe, and Australia. They distribute over 200,000 products to about 125,000 wholesale customers.
Pool announced an increase in its share repurchase program to $600.0 million, adding $316.2 million to the existing program. Additionally, the quarterly cash dividend was raised by 9% to $1.20 per share. The company's strong dividend growth history was highlighted, with this being the 19th increase since 2004. The Annual Meeting of Stockholders resulted in the election of directors and positive votes on key matters.
Pool (Nasdaq:POOL) will be presenting at the Oppenheimer 19th Annual Industrial Growth Conference with Melanie M. Hart, Vice President and Chief Financial Officer, on May 6, 2024. The company is the largest wholesale distributor of swimming pool and related backyard products, operating in North America, Europe, and Australia.
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