Pool Corporation Reports Record Third Quarter Results And Updates 2016 Earnings Guidance Range

Highlights
  • Net sales growth of 7% with base business net sales growth of 5% for the quarter
  • Operating income growth of 13% for the quarter, 17% year to date
  • Q3 2016 diluted EPS increased 14% to $1.03 with year to date diluted EPS up 20% to $3.39
  • Updated 2016 earnings guidance range to $3.40 - $3.46 per diluted share

COVINGTON, La., Oct. 20, 2016 (GLOBE NEWSWIRE) -- Pool Corporation (NASDAQ:POOL) today reported record results for the third quarter of 2016 and the nine months ended September 30, 2016.

"We experienced a solid third quarter with results that were slightly better than our expectations.  It is at this time of the year, when our customers are working to get as much as possible done before the season ends, that our service is most critical.  Our results reflect our ability to continually improve execution and provide exceptional service.  The breadth and depth of our product and service offerings, coupled with the commitment of our people, continue to positively distinguish us in the marketplace," said Manuel Perez de la Mesa, President and CEO.

Net sales for the third quarter of 2016 increased 7% to a record $691.4 million compared to $645.8 million in the third quarter of 2015, with base business sales up 5% for the period.  Our sales continue to benefit from market share gains and stronger consumer discretionary spending evidenced by our increase in sales of pool construction materials and ancillary equipment and supplies, as consumers continue to invest in enhancing their outdoor living spaces.

Gross profit for the third quarter of 2016 increased 8% to a record $199.6 million from $184.3 million in the same period of 2015.  Base business gross profit improved 6% over the third quarter of last year.  Gross profit as a percentage of net sales (gross margin) increased 40 basis points to 28.9% compared to the third quarter of 2015.  This increase reflects gains from supply chain management initiatives this year compared to last. 

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