Pool Corp. (POOL) Tops Q4 EPS by 8c; Offers FY20 EPS Outlook

Pool Corp. (NASDAQ: POOL) reported Q4 EPS of $0.44, $0.08 better than the analyst estimate of $0.36. Revenue for the quarter came in at $582.2 million versus the consensus estimate of $581.94 million.

Highlights include:

• Record annual sales of $3.2 billion for 2019, up 7% from 2018
• 2019 operating margin of 10.7%, up 20 bps from 2018, with base business operating margin up 40 bps
• Record 2019 diluted EPS of $6.40 (including a $0.57 tax benefit), an increase of 14% over 2018
• Cash provided by operations of $298.8 million, an improvement of $180.1 million from 2018
• 2020 diluted EPS guidance range of $6.47 - $6.77, including an estimated $0.06 tax benefit; excluding the tax benefit in both years, the guidance range is an increase of 10% - 15% over 2019

“2019 was an exciting year for POOLCORP as we achieved record sales, operating margin and earnings per share. We also achieved a record return on invested capital of 29.3%. Our focus on market share gains and capacity creation allowed us to capitalize on our competitive advantages and deliver solid results, particularly considering the impact of weather on our results in the first half of the year,” commented Peter D. Arvan, president and CEO.

GUIDANCE:

Pool Corp. sees FY2020 EPS of $6.47-$6.77, versus the consensus of $6.71.

“In 2020, we will continue to focus on our operating priorities and making strategic investments that benefit our customers, employees and shareholders. We believe that our competitive advantages continue to grow and underlying demand throughout our industry remains strong. Based on these factors, we expect earnings for 2020 will be in the range of $6.47 to $6.77 per diluted share, including an estimated $0.06 favorable impact from ASU 2016-09,” said Arvan.

For earnings history and earnings-related data on Pool Corp. (POOL) click here.

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