Shares of Pool Corp. (NASDAQ: POOL) fell on Thursday after the company released financial results for the second quarter of 2022 that fell short of analysts' expectations and updated its guidance for the rest of the year. As of 2:15 p.m. ET, Pool Corp. stock was down 11%.
Pool Corp. sells and maintains swimming pools and also sells other outdoor products. The company's Q2 performance was one for the record books. It had record net sales of almost $2.1 billion, which was up 15% from the year-ago period. However, this was slightly less than what Wall Street expecting, leading to disappointment.
For better perspective on why investors feel as they do about Pool stock, consider its two-year growth rate. On a two-year basis, Q2 net sales were up roughly 64% -- very atypical growth. Historically, Pool Corp. has grown its top line closer to 10%-15% annually.
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Here's Why Pool Corp. Stock Was Down Today