Why Pool Corp (POOL) Shares Are Diving Today - Pool (NASDAQ:POOL)

Pool Corp POOL reported second-quarter FY22 sales growth of 15% year-on-year, to $2.06 billion, missing the consensus of $2.14 billion.
EPS of $7.63 beat the consensus of $7.54.
Gross profit increased 21% Y/Y to $666.8 million, while gross margin expanded 150 basis points Y/Y to 32.4%.
Selling and administrative expenses rose 16% Y/Y to $247.9 million.
The operating margin expanded 150 basis points to 20.4%, and the operating income for the quarter rose 24% to $418.9 million.
Cash and equivalents totaled $91.5 million as of June 30, 2022. Net cash provided by operating activities for the six months declined to $28.7 million from $187.2 million a year ago.
Adjusted EBITDA of $432.5 million increased 23.7% Y/Y.
"While we continue to be limited by supply chain and labor constraints, supply chain dynamics are improving," said CEO Peter D. Arvan.
Outlook: Pool sees FY22 EPS of $18.38 - $19.13 (prior view $18.34 - $19.09), against the consensus of $18.89.
The company updated its annual earnings guidance range to include the $0.04 tax benefit from ASU 2016-09.
Price Action: POOL shares are trading lower by 9.49% at $359.08 on Thursday.
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Why Pool Corp Shares Are Diving Today