- Pool Corp (NASDAQ:POOL) reported second-quarter FY22 sales growth of 15% year-on-year, to $2.06 billion, missing the consensus of $2.14 billion.
- EPS of $7.63 beat the consensus of $7.54.
- Gross profit increased 21% Y/Y to $666.8 million, while gross margin expanded 150 basis points Y/Y to 32.4%.
- Selling and administrative expenses rose 16% Y/Y to $247.9 million.
- The operating margin expanded 150 basis points to 20.4%, and the operating income for the quarter rose 24% to $418.9 million.
- Cash and equivalents totaled $91.5 million as of June 30, 2022. Net cash provided by operating activities for the six months declined to $28.7 million from $187.2 million a year ago.
- Adjusted EBITDA of $432.5 million increased 23.7% Y/Y.
- “While we continue to be limited by supply chain and labor constraints, supply chain dynamics are improving,” said CEO Peter D. Arvan.
- Outlook: Pool sees FY22 EPS of $18.38 – $19.13 (prior view $18.34 – $19.09), against the consensus of $18.89.
- The company updated its annual earnings guidance range to include the $0.04 tax benefit from ASU 2016-09.
- Price Action: POOL shares are trading lower by 9.49% at $359.08 on Thursday.
- Photo Via Company
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