LESL - Pool Corporation: The Water's Too Hot (Rating Downgrade)
2024-02-23 15:52:59 ET
Summary
- Pool Corporation's sales declined by 10.3% in 2023 compared to the previous year due to unfavorable weather conditions and lower pool construction activity.
- Profits and cash flow figures for the company also decreased, with net income falling from $748.5 million in 2022 to $523.2 million in 2023.
- The company's recent financial performance and expensive stock price suggest a 'hold' rating.
- The picture would be even worse if it weren't for the quality of the Pool Corporation operation.
In an ideal world, every investment that every person makes would pan out the way that they expect it to. Unfortunately, we do not live in such a wonderful place. Every investor makes mistakes from time-to-time. Even the most experienced of us cannot deny this....
Pool Corporation: The Water's Too Hot (Rating Downgrade)