Pool Corp Q4 Adj. EPS Tops View; Guides FY24 Below Estimates
(RTTNews) - Pool Corp. (POOL) on Thursday reported that net income for the fourth quarter declined to $51.44 million or $1.32 per share from $71.86 million or $1.82 per share in the prior-year quarter.
Excluding the impact from ASU 2016-09 in both periods, adjusted earnings for the quarter were $1.30 per share, compared to $1.79 per share for the year-ago quarter.
Net sales for the quarter decreased 8 percent to $1.0 billion from $1.10 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.25 per share on revenues of $1.02 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2024, Pool now projects earnings in a range of $13.10 to $14.10 per share and adjusted earnings in a range of $13.00 to $14.00 per share from the prior outlook range of $13.14 to $14.14 per share. The Street expects earnings of $14.10 per share for the year.
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