Pool Corp. posts earnings record

Covington-based Pool Corp. reported earnings of $66.5 million, or a record $1.39 per share, compared to $64.9 million, or $1.34 per share, a year ago.

Last month, the pool-and-backyard-products distributor said it expected annual earnings in the range of $2.03 to $2.13, a 5 percent reduction from the original forecast. Pool said weather delayed the start of pool season and that would hurt the company’s results.

In Thursday’s earnings report, Pool President and Chief Executive Officer Manuel Perez de la Mesa said strong performances in the company’s largest year-round markets and the growth in pool refurbishment and replacements bolstered the second-quarter results.

Pool’s revenue increased 4 percent to a record $790.4 million. The largest year-round markets saw sales increases of 9 percent, while sales in more seasonal markets remained flat.

Stock analysts surveyed by Thomson Reuters had forecast earnings of $1.40 per share on sales of $775.2 million.