US wholesale firm Pool Corp’s Q2 FY21 sales escalate 40% to $1.79 bn


Pool Corp, a US-based wholesale distributor of swimming pool supplies and related backyard products, reported record sales in the second quarter (Q2) of FY21 up 40 per cent to $1.79 billion compared to $1.28 billion in same period of prior year. Net income for the quarter ended on June 30, 2021, rose 65 per cent to $259.7 million (Q2 FY20: $157.5 million).

 

Households continued to invest in outdoor living spaces, contributing to the robust demand for our products, according to the company. Pool Corp observed sales gains across nearly all product categories and geographies reflecting strong growth in maintenance, replacement, refurbishment and construction activity among its customers.

 

“Demand remains high, and paired with our team’s outstanding execution, business thrived. Through our supply chain management discipline and our capacity creation initiatives, we yielded exceptional improvement in both gross margin and operating margin during the quarter,” Peter D Arvan, president and CEO at Pool Corp, said in a press release.

 

Gross profit for Q2 FY21 rose to $551.7 million ($373.5 million), while operating income surged to $338.6 million ($205.8 million).

 

“As part of our strategic growth initiatives, we continued to add to our network through new sales centre openings and two acquisitions that closed in the second quarter,” Arvan added. “We believe that the strong demand trends and pipeline of projects will continue through the remainder of the year and beyond.”

Fibre2Fashion News Desk (JL)

Pool Corp, US-based wholesale distributor of swimming pool supplies and related backyard products, reported record sales in second quarter (Q2) of FY21 growing 40 per cent to $1.79 billion compared to $1.28 billion in same period of prior year. Net income for the quarter ended on June 30, 2021, rose 65 per cent to $259.7 million (Q2 FY20: $157.5 million).





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