Pool Corporation has revised its 2024 guidance, citing persistently weak demand for new swimming pools. The company has lowered its annual earnings guidance range to $11.04 to $11.44 per diluted share from the previous range of $13.19 to $14.19. Pool Corp. shares dropped 11.2% in after-hours trading following the announcement. The company also noted that new pool construction activity could be down 15% to 20% for the year, with remodel activity potentially down by as much as 15%. CEO stated that the discretionary components of their business are being challenged by cautious consumer spending on big-ticket items like swimming pools and outdoor living projects. Pool Corp. shares were halted pending news, and the company had to file an 8K.
"The discretionary components of our business, which are the most affected by general economic conditions, have been challenged by cautious consumer spending on big ticket items like swimming pools and outdoor living projects" - POOL
Pool Corporation Provides Swimming Pool Season Update and Revises 2024 Guidance | POOL Stock News https://t.co/sqLzfKmaUk
$POOL CEO: "Most recent pool permit data suggests persistently weak demand for new pool construction & with the peak selling season almost complete, we now believe that new pool construction activity could be down 15 to 20% for the year with remodel activity down as much as 15%" https://t.co/yFqVF0sgSp
Oof $POOL still dealing with overbuild. 'most recent pool permit data suggests persistently weak demand for new pool construction, and with peak selling season complete, we now believe new pool construction activity could be down 15% to 20% for the year with remodel down as 15%'
Now up on @realmoney There Is Doodie In the $POOL! * Investment short POOL is trading -$35 (-10%) after lowering sales and EPS guidance after the close * More signposts of a weakening U.S. consumer (continuing on Liz Ann's theme/tweet) "Want some?"... Doodie, Doodie - Don't…
$LESL / $POOL have been great shorts since last year https://t.co/LJF2QzQYcT https://t.co/RwesN10wm9
$POOL Pool Corp - updated guidance/commentary https://t.co/S5bN3pLOuN
$POOL -11.2% AH after lowering FY guidance -Annual earnings guidance range lowered to $11.04 to $11.44 per diluted share from previous range of $13.19 to $14.19 https://t.co/bXmm6mzqr6
We have been short $POOL all year and $LESL last year https://t.co/PgKBDlBctK https://t.co/Zr4OnWeuEp
Took longer than expected but $POOL is finally imploding! Biz is so bad they had to file an 8K & guide lower If it breaks $295 it’s prob heading to pre-covid levels ~$240 (fill the gap) PS: 30% of $POOL biz (irrigation/landscaping) $SITE IS NEXT Others, $HAYW $LESL & $PNR https://t.co/4u91o0vBpT https://t.co/h865BZyIlq
I’m short the following over-earning distributors that are finally starting to normalize: $POOL (boom!) $CNM $WSO $ATKR The capital cycle has taken longer than expected to play out after the cheap money sloshing around during / post COVID.
Pool Corp. slashes profit outlook, citing ‘persistently weak’ demand for new swimming pools https://t.co/G3WfxE3CzH
Boy ... $POOL waits for Olympic swim trials to end and then pre-announces that someone crapped in the deep end of its Q2 P&L. https://t.co/IJa2qkz7Qz
$POOL It's so over. *POOL CORP SHARES HALTED FOR PENDING NEWS