- pool corp SWIMMING POOL reported Q3 FY22 revenue grew 14% year over year to $1.615 billion, slightly beating consensus of $1.61 billion. EPS of $4.78 surpassed the consensus of $4.61.
- Gross profit increased 14% year over year to $503.7 million, while gross margin declined 10 basis points year over year to 31.2%.
- Selling, general and administrative expenses increased 17% year over year to $239.8 million.
- Operating margin shrank 50 basis points to 16.3% and operating income for the quarter increased 11% to $263.9 million.
- Cash and cash equivalents as of September 30, 2022 totaled $49.08 million. Net cash from operations for the nine months decreased to $307.5 million from $359.1 million in the prior year.
- Adjusted EBITDA for the nine months was $959.2 million, up 30% Y/Y.
- “We have seen an increased demand for higher quality products and customizations for new pools and remodeling projects, even though new pool permitting has declined year-to-date,” said CEO Peter D. Arvan.
- outlook: Pool sees FY22 EPS of $18.50 – $19.05 (previous view $18.38 – $19.13), against the consensus of $18.85.
- Price promotion: POOL shares traded 2.39% higher at $305.24 on the last check Thursday.
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