Pool Corp cuts 2024 EPS guidance to $11.04-$11.44 from $13.19-$14.19 on weak discretionary demand

POOL CORP

YTD net sales trending down ~6.5% vs. 2023; new pool construction expects 15%-20% decline in 2024.
Remodel activity may fall as much as 15% (prior estimate flat to down 10%).
Q2 2024 EPS expected $4.85-$4.95; full year EPS range lowered to $11.04-$11.44.
Maintenance-related product sales stable; chemicals volume up, equipment sales (ex cleaners) down 2% YTD.
Company cites cautious consumer spending on big-ticket outdoor projects as primary headwind.

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