Pool Corp. Reports Record Profit
COVINGTON, LA (AP) — Covington-based Pool Corp. reported third-quarter earnings climbed to a record $34.8 million, or 78 cents per share, compared to $32.3 million, or 68 cents per share, a year earlier.
The Advocate reports the swimming pool and products wholesaler boosted sales by 6 percent to a record $615.5 million. Those results were driven by pool replacements and remodeling, which fueled the company's record results in the first half of the year.
President and Chief Executive Officer Manuel Perez de la Mesa said the continuing demand for building materials such as tile and lighting for outdoor living areas – rose by double digits, boosting overall sales.
Pool is tightening its 2014 per-share earnings forecast to a range of $2.38 to $2.43. The company had earlier projected a profit of $2.35 to $2.45.