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Why Swimming Pool Supplies Provider Pool Corp Shares Are Diving Today

Pool Corporation (NASDAQ:POOL) shares are tumbling today after the company after the company cut its FY24 EPS guidance. Yesterday, the company cut its EPS outlook to $11.04 – $11.44 (from $13.19 – $14.19) vs. estimate of $13.15. Moreover, Pool projects new pool units to decline by 15% to 20% in 2024, and remodeling activity to decrease by up to 15%, vs prior guidance of flat to down 10% from 2023. Given the seasonal nature of business, Pool anticipates that the lower sales levels will have a more pronounced impact on its second-quarter FY24 results, with ...