Covington, Louisiana-based Pool Corp. reported “record” net sales in the first quarter of 2022: $1.4 billion, up 33% over the same quarter a year ago.
The company also reported 1Q 2022 operating income of $235.7 million, up 83% from the same quarter in 2021, with a 450 bps improvement in operating margin.
For the most recent quarter, Pool Corp. reported diluted EPS of $4.41, an increase of 82% from 1Q 2021.
“The first quarter of 2022 proved to be another for the record books, marking our 36th consecutive quarter of historic revenue growth,” said Peter D. Arvan, president and CEO. “Healthy contractor backlogs and robust demand for outdoor living products continued to drive net sales growth, and our focus on capacity creation and operating efficiency generated solid operating margin improvement and outstanding bottom line results. Throughout the quarter, inflationary pressures and supply chain constraints persisted, but our skilled execution allowed us to deliver remarkable results once again. I am proud of our POOLCORP teams around the world, who continue to demonstrate resilience in a rapidly evolving global environment.”
Gross profit also increased 49% to a record $447.2 million in the first quarter, from $301.1 million in the same period a year earlier. Net income increased 82% to $179.3 million, Pool Corp. reported.