Pool Corp Faces Weather-Driven Revenue Decline: Analyst's Forecast And Strategy
Portfolio Pulse from Shivani Kumaresan
Pool Corporation (POOL) reported a 9.7% YoY decline in Q2 FY23 sales to $1.857 billion, missing the consensus estimate of $1.910 billion. EPS of $5.91 also missed the consensus of $6.20. The company attributes the underperformance to weather conditions that impacted revenue and led to slower maintenance activity, reduced outdoor living construction activity, and deferred discretionary replacement activity. Oppenheimer analyst Scott Schneeberger reiterated an Outperform rating on POOL and raised the price target from $375 to $380.
July 21, 2023 | 6:47 pm
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Pool Corporation reported lower than expected Q2 FY23 sales and EPS due to weather conditions. However, Oppenheimer analyst Scott Schneeberger maintains an Outperform rating and raises the price target to $380.
Despite the lower than expected Q2 FY23 sales and EPS, the Outperform rating and raised price target from Oppenheimer analyst Scott Schneeberger indicates a positive outlook for the company. This could potentially offset the negative impact of the earnings miss in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100