Pool Corp. (POOL) Misses Q2 EPS by 4c; Lowers Outlook
Pool Corp. (NASDAQ: POOL) reported Q2 EPS of $1.75, $0.04 worse than the analyst estimate of $1.79. Revenue for the quarter came in at $851.9 million versus the consensus estimate of $903.55 million.
Pool Corp. sees FY2015 EPS of $2.72-$2.82, versus prior guidance of $2.72-$2.87 and the consensus of $2.84.
“Our domestic blue business realized 6% sales growth year to date and 3% sales growth in the second quarter of 2015 compared to the prior year periods. Adverse weather conditions in a number of our significant markets affected our second quarter growth, as did the shift of early buy shipments into the first quarter. Our customers currently have a larger than normal backlog, given lost workdays, as a result of record rainfall in many important markets. Conversely, in markets where weather was normal, our results met or exceeded our expectations. In local currencies, our international business generated an estimated 8% aggregate sales growth rate year to date and an estimated 6% aggregate sales growth rate for the quarter. When translated into U.S. dollars, our international business negatively impacted our consolidated sales growth rates due to the nearly 20% appreciation of the U.S. dollar relative to most international currencies since this time last year,” said Manuel Perez de la Mesa, President and CEO.
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