Covington-based Pool Corp. reported its first-quarter profit rose to $4.2 million, or 9 cents per share, compared to $3.4 million, or 7 cents per share, a year ago.
The wholesale distributor of pool supplies and equipment boosted sales by 10 percent to a record $406.3 million, thanks to customers replacing or remodeling their swimming pools, the company said.
First-quarter results fell just shy of stock analysts’ forecast of 10 cents per share, according to a survey by Thomson Reuters. However, Pool beat analysts’ sales projections of $397.3 million.
President and Chief Executive Officer Manuel Perez de la Mesa said the company expects to meet its previously 2014 earnings estimate of $2.35 to $2.45 per share.
For the year, stock analysts have forecast earnings of $2.45.