Pool Corp Q2 Earnings Miss Estimates Amid Macro Woes; Cuts FY23 EPS Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Pool Corporation reported a 9.7% YoY decline in Q2 FY23 sales to $1.857 billion, missing the consensus of $1.910 billion. EPS of $5.91 also missed the consensus of $6.20. The company cited challenging macro trends, a slow start to the swimming pool season, lower maintenance activity, and reduced outdoor living construction activity as reasons for the decline. The company also lowered its annual earnings guidance to $13.14-$14.14 from $14.62-$16.12.
July 20, 2023 | 3:31 pm
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Pool Corporation's Q2 FY23 sales and EPS missed estimates, and the company lowered its annual earnings guidance. This could negatively impact the company's stock price in the short term.
Pool Corporation's lower than expected Q2 FY23 sales and EPS, along with the lowering of its annual earnings guidance, could lead to a decrease in investor confidence and a potential drop in the company's stock price.
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