Leslie’s Inc LESL, which operates as Leslie’s Swimming Pool Supplies, is trading up 4% at $26.72.
What Happened: Pool Corporation POOL, one of Leslie’s competitors, on Thursday morning reported an earnings beat, which could indicate strong signs for the swimming pool industry as we head into summer.
Pool reported quarterly earnings of $2.32 per share, which beat the analyst consensus estimate of $1.15. The company reported quarterly sales of $1.06 billion, which beat the analyst consensus estimate of $823.89 million.
Pool's stock is up 6.6% to $411.41.
Why It's Important: More industrial pools are buying cleaning and maintenance supplies as we near warmer weather. In addition, many homebuilders throughout the country are adding pools into new homes, thus increasing the demand for pool supplies.
Benzinga CEO and Founder Jason Raznick pitched Leslie's as one of his favorite outdoor recovery stock picks this week on Benzinga’s "Power Hour" and "PreMarket Prep" shows.
“Leslie’s Pool Supplies, that would be the one,” Raznick said Friday on the "PreMarket Prep" show. “I think pools will do very well come summer. I own calls and the stock... it is a medium to large position for me.”
Watch Raznick's stock pitch here:
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