Pool Corporation reported its second-quarter earnings on July 24th, beating Wall Street's expectations. Net profit as a percentage of sales was 29.3% in 2008 as opposed to 28.6% the previous year. It posted expected earnings of $1.26 to $1.36 per share.
Pool Corporation reduced its guidance for 2007 full year earnings, citing prevailing difficult market conditions. The company expects its full year 2007 earnings to be in the range of $1.45-$1.55 per share, compared to its previously announced projected range of $1.75-$1.85 per share. The company stated that the pool construction market is currently suffering due to low home sales, credit market crisis and bad weather in key markets. Morgan Keegan lowered its rating for Pool Corporation from ‘Outperform’ to ‘Market Perform’ and reduced its 2007 profit estimate.