Pool Corporation (POOL) shares are falling after the company revised its 2024 earnings guidance, citing slower-than-expected demand during the summer swimming season.
Yahoo Financial Hosts Julie Hyman It is Josh Lipton report more on the story and other companies being affected by weak demand, including Pentair (PNR).
For more expert insights and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Melanie Riehl
Video transcript
Pool Corporation shares fell today after the company revised its 2024 earnings guidance.
He cited slower-than-expected demand during the summer pool season.
And this, a coup, not just a coup.
I was joking earlier.
This created a real ripple effect.
I’m sorry to repeat this very bad joke, but it wasn’t just other pool supply companies.
Penta, um, which is apparently a chemical distribution that Pool Corp then distributes.
I noticed Home Depot was lower today.
There is actually a large group that was smaller in this comment here, um, that, you know, because the company’s forecast, they reduced a lot.
They cut it to 1,144 from 1,419 per share for the full year.
That’s a big cutoff for guidance.
Yes, I thought this line from Pool really stood out to me when it said: The discretionary components of our business, which are most affected by general economic conditions, have been challenged by cautious consumer spending on big-ticket items like pools and living projects. outdoors.
So when we were talking, um, for Ian to win.
You do.
You have consumers here, at least some consumers who seem to be prioritizing more.
You know what they need and not what they want.
Well, and also, if you think about, for example, vacations, right?
He was talking about vacation.
Or retired people who are buying a boat and don’t need to finance it.
A pool is probably a funded project, and since the rates have stayed high and are right, maybe that’s the differentiator for sure.
