Pool Corp down after revising forecast

Pool

24/06/2024 22:39

June 24 (Reuters) -    ** Swimming pool products
distributor Pool Corp's  POOL.O  shares fall ~11% to $301 in
after-hours trading
    ** Co says "seasonally significant Q2 2024 revenues are
below previous expectations driven by lower new pool
construction and remodel activity"
    ** Expects lower level of sales to impact Q2 results, with
expected diluted EPS between $4.85 to $4.95
    ** For FY24, POOL lowers projected diluted EPS range to
$11.04 to $11.44, from $13.19 to $14.19
    ** "YTD net sales, although sequentially better than Q1
2024, are trending down around 6.5%; full year 2024 net sales
are now expected to be in a similar range" - POOL
    ** 5 of 13 brokerages rate the stock "buy" or higher, 7
"hold" and 1 "sell"; their median PT is $377.8
    ** Stock has fallen 15.2% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))