Pool (POOL) Reports Q1: Everything You Need To Know Ahead Of Earnings
Stock Story
Published Apr 24, 2024 03:12AM ET
Updated Apr 24, 2024 07:01AM ET
Pool (POOL) Reports Q1: Everything You Need To Know Ahead Of Earnings
Swimming pool distributor Pool (NASDAQ:POOL) will be reporting results tomorrow morning. Here's what to look for.
Last quarter Pool reported revenues of $1.00 billion, down 8.5% year on year, missing analyst expectations by 1.6%. It was a weaker quarter for the company, with a miss of analysts' revenue estimates. In addition, its full-year earnings forecast was underwhelming.
Is Pool buy or sell heading into the earnings? Find out by reading the original article on StockStory, it's free.
This quarter analysts are expecting Pool's revenue to decline 6.4% year on year to $1.13 billion, improvement on the 14.6% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.93 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at Pool's peers in the consumer discretionary segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. LKQ (NASDAQ:LKQ) delivered top-line growth of 10.6% year on year, missing analyst estimates by 1.6%. LKQ traded flat on the results.
Read the full analysis of LKQ's results on StockStory.
Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 4.1% over the last month. Pool is down 6.8% during the same time, and is heading into the earnings with analyst price target of $396.2, compared to share price of $375.01.
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Written By: Stock Story
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