Pool Corp. in Covington reported record financial results for the second quarter.
The wholesale distributor of swimming pool products said its sales of $848.2 million and net income of $73.9 million set a record for the quarter. Net sales grew 7 percent and net income was up 11 percent from second-quarter 2013.
Earnings per share increased 16 percent to a record $1.61 per diluted share for the three months ended June 30 versus $1.39 a year ago.
“The ongoing recovery of replacement and remodel activity and market share gains
continued to contribute to our growth,” said Manuel Perez de la Mesa, president and CEO.
Prolonged cold and wet weather in seasonal markets, particularly Canada and the
- orthern United States, limited second-quarter sales growth in those markets.
Through midyear, Pool saw net sales increase 8 percent to a record $1.3 billion from $1.2 billion for the first six months of 2013. Earnings per share increased 15 percent to a record $1.69 per diluted share on net income of $78.1 million, compared to $1.47 on net income of $70.0 million in the comparable 2013 period.
The company reaffirmed its 2014 earnings guidance range of $2.35 to $2.45 per diluted share.
“Through the remainder of 2014 and beyond, we have countless opportunities to add value,” said Perez de la Mesa.
Pool Corp. operates 326 sales centers in North America, Europe and South America, through which it distributes more than 160,000 national brand and private label products
to more than 80,000 wholesale customers.