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- Pool Corp POOL reported second-quarter FY21 net revenue growth of 40% year-on-year to $1.79 billion, beating the analyst consensus of $1.73 billion.
- Revenue growth was supported by households continuing to invest in outdoor living spaces, contributing to the demand.
- Gross profit increased 48% Y/Y to $551.7 million, while Gross margin rose 170 basis points Y/Y to 30.9%.
- Selling and administrative expenses rose 27% Y/Y to $213.1 million.
- The operating margin was 18.9%, and the operating income for the quarter rose 64% to $338.6 million.
- Cash and equivalents totaled $58.5 million as of June 30, 2021.
- EPS of $6.37 beat the analyst consensus of $5.48.
- "Through our supply chain management discipline and our capacity creation initiatives, we yielded exceptional improvement in both gross margin and operating margin during the quarter," said CEO Peter D. Arvan.
- Outlook: Pool raised FY21 EPS to $13.75 - $14.25, including the impact of year-to-date tax benefits of $0.29, versus the previous view of $11.85 - $12.60, including $0.10 tax benefit in Q1. Analysts estimate the company to report EPS of $12.42.
- Price action: POOL shares are trading lower by 1.96% at $448.72 on the last check Thursday.
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