POOL CORP Q3 2024: Sales Hit $4.3B, Retained Earnings $3.5B

TL;DR

**POOL CORP Q3 2024: $4.3B sales YTD, $3.5B retained earnings. Steady performance.**

AI Summary

POOL CORP reported its Q3 2024 results, with net sales for the nine months ending September 30, 2024, reaching $4.3 billion. The company's retained earnings stood at $3.5 billion as of September 30, 2024. This filing provides an update on the company's financial performance and position for the period.

Why It Matters

This 10-Q filing provides crucial financial data for investors and analysts to assess POOL CORP's performance and financial health during the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information without immediate red flags.

Key Numbers

• $4.3B — Net Sales (YTD) (Represents total revenue generated for the first nine months of 2024.)
• $3.5B — Retained Earnings (Indicates accumulated profits not distributed as dividends as of Q3 2024.)
• 2024-09-30 — Reporting Period End (The date through which financial information is reported in this 10-Q.)

Key Players & Entities

• POOL CORP (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period for the 10-Q
• $4.3 billion (dollar_amount) — Net sales for the nine months ending September 30, 2024
• $3.5 billion (dollar_amount) — Retained earnings as of September 30, 2024

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share POOL Nasdaq Global Select Mar

Filing Documents

• pool-20240930.htm (10-Q) — 1011KB
• exhibit10_1q324.htm (EX-10.1) — 52KB
• exhibit31_1q324.htm (EX-31.1) — 9KB
• exhibit31_2q324.htm (EX-31.2) — 9KB
• exhibit32_1q324.htm (EX-32.1) — 9KB
• pool-20240930_g1.jpg (GRAPHIC) — 16KB
• 0000945841-24-000160.txt ( ) — 4163KB
• pool-20240930.xsd (EX-101.SCH) — 20KB
• pool-20240930_cal.xml (EX-101.CAL) — 52KB
• pool-20240930_def.xml (EX-101.DEF) — 69KB
• pool-20240930_lab.xml (EX-101.LAB) — 366KB
• pool-20240930_pre.xml (EX-101.PRE) — 235KB
• pool-20240930_htm.xml (XML) — 423KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Consolidated Statements of Income 1 Consolidated Statements of Comprehensive Income 2 Consolidated Balance Sheets 3 Condensed Consolidated Statements of Cash Flows 4 Consolidated Statements of Changes in Stockholders' Equity 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 31 SIGNATURE 33

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements POOL CORPORATION Consolidated Statements of Income (Unaudited) (In thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales $ 1,432,879 $ 1,474,407 $ 4,323,474 $ 4,538,545 Cost of sales 1,016,476 1,045,676 3,038,370 3,172,276 Gross profit 416,403 428,731 1,285,104 1,366,269 Selling and administrative expenses 240,050 234,288 728,550 699,046 Operating income 176,353 194,443 556,554 667,223 Interest and other non-operating expenses, net 12,355 13,599 39,818 46,327 Income before income taxes and equity in earnings 163,998 180,844 516,736 620,896 Provision for income taxes 38,361 43,079 119,891 149,339 Equity in earnings of unconsolidated investments, net 64 78 180 235 Net income $ 125,701 $ 137,843 $ 397,025 $ 471,792 Earnings per share attributable to common stockholders: Basic $ 3.29 $ 3.54 $ 10.37 $ 12.09 Diluted $ 3.27 $ 3.51 $ 10.30 $ 12.00 Weighted average common shares outstanding: Basic 37,983 38,735 38,104 38,816 Diluted 38,187 39,023 38,330 39,112 Cash dividends declared per common share $ 1.20 $ 1.10 $ 3.50 $ 3.20 The accompanying Notes are an integral part of the Consolidated Financial Statements. 1 POOL CORPORATION Consolidated Statements of Comprehensive Income (Unaudited) (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net income $ 125,701 $ 137,843 $ 397,025 $ 471,792 Other comprehensive income (loss): Foreign currency translation gain (loss) 5,066 ( 5,025 ) ( 3,286 ) 245 Unrealized (loss) gain on interest rate swaps, net of the change in taxes of $ 2,192 , $( 305 ), $ 1,909 and $( 202 ) ( 6,577 ) 916 ( 5,727 ) 604 Total other comprehensive (loss) income ( 1,511 ) ( 4,109 ) ( 9,013 ) 849 Comprehensive income $ 124,190 $ 133,734 $ 388,012 $ 472,641 The accompanying Notes are an integral part of the Consolidated Financial Statements. 2 POOL CORPORATIO

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) Note 1 – Summary of Significant Accounting Policies Pool Corporation (the Company , which may also be referred to as we, us or our ) prepared the unaudited interim Consolidated Financial Statements following U.S. generally accepted accounting principles (GAAP) and the requirements of the Securities and Exchange Commission (SEC) for interim financial information. As permitted under those rules, we have condensed or omitted certain footnotes and other financial information required for complete financial statements. The interim Consolidated Financial Statements include all normal and recurring adjustments that are necessary for a fair presentation of our financial position and operating results. All significant intercompany accounts and intercompany transactions have been eliminated. A description of our significant accounting policies is included in our 2023 Annual Report on Form 10-K. You should read the interim Consolidated Financial Statements in conjunction with the Consolidated Financial Statements and accompanying notes in our 2023 Annual Report on Form 10-K. The results for our three and nine-month periods ended September 30, 2024, are not necessarily indicative of the expected results for our fiscal year ending December 31, 2024. Income Taxes We reduce federal and state income taxes payable by the tax benefits associated with the exercise of nonqualified stock options and the lapse of restrictions on restricted stock awards. To the extent realized tax deductions exceed the amount of previously recognized deferred tax benefits related to share-based compensation, we record an excess tax benefit. We record all excess tax benefits as a component of income tax benefit or expense on the Consolidated Statements of Income in the period in which stock options are exercised or restrictions on restricted stock awards lapse. We recorded excess tax benefits of $ 0.5 million in the third quarter of 2024 c

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