A warmer-than-usual start to the year in most of its seasonal markets helped Covington-based Pool Corp. turn record first-quarter profit and sales in 2016.
The pool supplies and equipment distributor reported a $16.4 million profit for the first three months of the year, compared with $8.4 million a year ago. The company reported per-share earnings of 38 cents for the quarter, which ended March 31. That’s up from 19 cents per share a year ago.
Net sales for the same period in 2016 reached $515.3 million, compared with $450.4 million a year ago.
The company raised its 2016 earnings guidance to a range of $3.25 to $3.40 per share, up from $3.20 to $3.35 per share.
Pool Corp. President and CEO Manuel Perez de la Mesa attributed the quarter’s growth to “accelerated customer early buy deliveries, an additional selling day compared to the same period last year, and continued exceptional execution by our team.”