Why Swimming Pool Supplies Provider Pool Corp Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Pool Corporation (NASDAQ:POOL) shares are falling after the company cut its FY24 EPS guidance and projected declines in new pool units and remodeling activity. The company also warned of lower sales levels impacting Q2 FY24 results and noted a decrease in discretionary pool spending due to the macroeconomic environment. Despite these challenges, Pool increased its share repurchase program and raised its quarterly dividend.
June 25, 2024 | 4:11 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Pool Corporation shares are down 6.42% after the company cut its FY24 EPS guidance and projected declines in new pool units and remodeling activity. The company also warned of lower sales levels impacting Q2 FY24 results and noted a decrease in discretionary pool spending due to the macroeconomic environment.
The significant cut in EPS guidance and projections of declines in new pool units and remodeling activity indicate a challenging outlook for Pool Corporation. The warning about lower sales levels impacting Q2 FY24 results and the decrease in discretionary pool spending due to the macroeconomic environment further contribute to the negative sentiment. Despite the increase in the share repurchase program and the raised dividend, the immediate impact on the stock price is likely to be negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100