POOL - Why Pool Stock Jumped Higher Today
2024-07-25 14:49:22 ET
Shares of swimming pool supply company Pool Corporation (NASDAQ: POOL) jumped higher on Thursday after the company reported financial results for the second quarter of 2024. As of noon ET, Pool stock was up about 10%.
So Pool's Q2 results were good, right? Well, that's overly simplistic. In fact, many of the company's metrics are down. The Q2 net sales of $1.8 billion were down 5% year over year, its profit margins went down, and its earnings per share (EPS) dropped 16% to $4.99. None of this looks good without context.
Pool's management keeps updating its guidance for 2024. It most recently gave an update on June 24, saying net sales in the first half of 2024 would be down about 6.5% and that it would have full-year EPS of $11.04-$11.44. But in its Q2 report today, its net sales were better than expected considering they fell only 5.7% in the first half of the year.
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Why Pool Stock Jumped Higher Today