Pool Corp Q1 Earnings Smashes Estimates Aided By High Demand For Outdoor Living Products - Pool (NASDAQ:POOL)

Pool Corp POOL reported first-quarter FY22 sales growth of 33% year-on-year, to $1.41 billion, beating the consensus of $1.27 billion.
Revenue growth was supported by strong demand for outdoor living products in addition to elevated price inflation of approximately 10% to 12%.
EPS of $4.41 beat the consensus of $3.15.
Gross profit increased 49% Y/Y to $447.2 million, while gross margin rose 330 basis points Y/Y to 31.7%.
Selling and administrative expenses rose 23% Y/Y to $211.5 million.
Operating margin expanded 450 basis points to 16.7%, and the operating income for the quarter rose 83% to $235.7 million.
Cash and equivalents totaled $35.4 million as of March 31, 2022.
Adjusted EBITDA of $249 million increased 78% Y/Y.
"Throughout the quarter, inflationary pressures and supply chain constraints persisted, but our skilled execution allowed us to deliver remarkable results once again," said CEO Peter D. Arvan.
Outlook: Pool raised FY22 EPS guidance to $18.34 - $19.09 from $17.19 - $17.94, against the consensus of $17.66.
Price Action: POOL shares closed higher by 0.47% at $431.82 on Wednesday.