pool--big

Pool Corporation

(POOL)

NASDAQ

Recommendation:

Buy

Share Price:

USD

Market Cap:

$

Pool Corp: Pump up the inflatables

25 October 2022

Pool Corp (NYSE: POOL) continues to report strong results, beating the street’s EPS estimates by 2.6% ($4.76 vs $4.64) and revenue estimates by 1.1% - $1.62B of revs vs. an expected $1.60B. Mgmt guided for FY EPS of $18.50-19.05. The earnings beat comes from a combination of higher prices (driven by inflation) and increased demand (+10%) largely from the “sun belt” (the lower southeast to southwest region of the US). Taking a macro outlook we’ve typically seen sales driven by higher prices (Dominos, Nike) so to see a product where the underlying demand is growing buoys our confidence, especially given the global macro environment. We reiterate our BUY rating.

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