Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness
Pool Corp. earns more in 2013 despite harsh ...
Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness
Pool Corp. earns more in 2013 despite harsh ...
Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness
Pool Corp. earns more in 2013 despite harsh ...
Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness
Pool Corp. earns more in 2013 despite harsh ...
of 4

Pool Corp. earns more in 2013 despite harsh winter _ New Orleans CityBusines

Published on: Mar 4, 2016
Source: www.slideshare.net


Transcripts - Pool Corp. earns more in 2013 despite harsh winter _ New Orleans CityBusines

  • 1. Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness Pool Corp. earns more in 2013 despite harsh winter New Orleans CityBusiness.html[4/2/2015 4:12:36 AM] <img src="http://pixel.quantserve.com/pixel/p-29W-admf9poxY.gif" style="display: none;" border="0" height="1" width="1" alt="Quantcast"/> Subscribe Manage Account LOG OUT Go to... Home / News / Construction and Real Estate / Pool Corp. earns more in 2013 despite harsh winter Pool Corp. earns more in 2013 despite harsh winter By: Ryan Kelly, Reporter February 14, 2014 0 Pool Corp. of Covington posted overall net gains in 2013 after a slow fourth quarter. The winter months of the early first quarter and late fourth quarter are typically when demand for pool products and construction ebb, but the company says longer, harsher conditions in the past year took a notable toll on business. “2013 I would consider a poor year,” Pool Corp. Vice President and Chief Financial Officer Mark Joslin said. “When you look at our growth rate, it reflects a bad year on top of a good year, weather-wise.” The company’s net loss for the three months ending Dec. 31 was $4.97 million, less than the $8 million from the same period in 2012. Earnings for full year 2013 reached $97.33 million, a 19 percent increase from the prior year’s income. Spurring the income growth for Pool Corp. was 6 percent sales growth that pushed the company past the $2 billion mark. The sales increases were in two categories: pool products and irrigation products. Pool products, which include new pool construction, renovations and day-to-day products such as chemicals, increased 6 percent. Irrigation product sales, tied largely to new construction, increased 11 percent. New pool construction, which makes up 13 percent of the pool products business, jumped in southern markets such as Texas, Arizona, Florida and California. Revenue from the segment was flat overall because of an offsetting decline in northern markets. Construction is down 70 percent for Pool Corp. from its peak in 2006, before the housing market bust when it represented 30 percent of pool product business. New pool construction hit bottom for Pool Corp. in 2009 and has been slowly growing since, Joslin said. Pool products make up 90 percent of overall sales for the company and irrigation products are about 10 percent. Irrigation expects to grow over the next five years to 15 percent of business, Joslyn added. The company’s gross profits reached a record $591.3 million last year, up 4 percent from 2012, though its gross profit margin decreased as result of what the company said was increased emphasis on higher-priced, lower-margin items such as multi-speed pumps, high efficiency heaters and LED lighting products. They are the “things that you don’t need but are those nice-to-have items,” said David Manthey, an analyst for investment firm Robert W. Baird & Co. “Those items tend to have a lower gross margin.” Go to... SearchSearch...
  • 2. Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness Pool Corp. earns more in 2013 despite harsh winter New Orleans CityBusiness.html[4/2/2015 4:12:36 AM] Share this: More people are replacing single-speed pumps with multiple speed pumps that are more expensive but more energy efficient. From Pool Corp.’s point of view, they are less profitable per unit, Joslin said. “As people replace those, our gross profit goes up and gross margin goes down,” he said. And as the economy continues to improve “we should continue to see replacement and refurbishment.” Reporter Ryan Kelly can be reached ryan.kelly@nopg.com or @RyanKellyCB Tagged with: DAVID MANTHEY MARK JOSLIN POOL CORP. ROBERT W. BAIRD & CO. CITYBUSINESS EMAIL ALERT DIGITAL EDITION Email Print Facebook Twitter 2 LinkedIn Google +1 LEAVE A REPLY Logged in as ryanaffeldtkelly@gmail.com. Log out?   Notify me of follow-up comments by email. Notify me of new posts by email. Privacy & Terms Post Comment Type the text
  • 3. Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness Pool Corp. earns more in 2013 despite harsh winter New Orleans CityBusiness.html[4/2/2015 4:12:36 AM] Sign Up for New Orleans CityBusiness’ e-mail alerts. Bring the day’s business headlines directly to your desktop or mobile device free of charge. Get your copy of CityBusiness on Friday. Plan next week with an early look at local business news. For subscription information, please call (800) 451-9998 MY ACCOUNT LOG OUT SUBSCRIBE MANAGE ACCOUNT PRIVACY POLICY SUBSCRIBER AGREEMENT RECENT POSTS Bill adds cost controls on La. tuition program Fire destroys Roman’s Greek Café in Metairie McDonald’s: Workers to get pay hikes at company-owned stores Bill proposes to put cost controls on TOPS tuition program Universities plan for health care hiring NEW ORLEANS CITYBUSINESS ADVERTISING CONTACT US FREQUENTLY ASKED QUESTIONS NEWSSTANDS Copyright © 2015 New Orleans Publishing Group | 3445 N. Causeway Blvd., Suite 901,
  • 4. Pool Corp. earns more in 2013 despite harsh winter | New Orleans CityBusiness Pool Corp. earns more in 2013 despite harsh winter New Orleans CityBusiness.html[4/2/2015 4:12:36 AM] Metairie, LA 70002 | Phone: (504)834-9292 E-mail: mail@nopg.com

Related Documents