Covington-based Pool Corp. rode warm weather and a wave of remodeling to record sales and profits in 2015.
The pool supplies and equipment distributor turned a 2015 profit of $128.3 million, or $2.90 per share, compared to $110.7 million, or $2.44 per share, a year ago.
Net sales for 2015 grew 5 percent to $2.36 billion, compared to $2.25 billion in 2014.
Pool outperformed Wall Street’s expectations. Stock analysts surveyed by Zacks Investment Research had forecast earnings of $2.84 per share.
Consumers spent more on replacing their pools and remodeling, according to Pool. Owners are upgrading existing pools and outdoor systems to increase energy efficiency and add more technologically advanced products.
For the fourth quarter, Pool earned $2.5 million, or 6 cents per share, compared to a loss of $2.2 million, or 5 cents per share, a year ago. The results fell 1 cent short of analysts’ predictions, according to Zacks Investment Research.