- July 23, 2021
- Posted by: Stratford Team
- Category: Business
A Covington-based swimming pool business supplier saw significant sales and profits again during the second quarter as demand in the industry continues to surge across the nation.
Pool Corp. generated net sales of $1.7 billion, up from $1.2 billion during the same time frame one year ago. Second-quarter net income increased 65% to $259.6 million from $157.5 million. Earnings per share increased to $6.37 from $3.87.
“Demand remains high,” said Peter D. Arvan, CEO of Pool Corp.
The company has been adding new sales centers as customers continue to invest in outdoor recreation at home, ranging from renovation to maintenance and new pools.
The company completed two acquisitions during second quarter.
Operating expenses, which include selling and administrative costs, grew by 27% to $213.1 million.
After an accounting standards update, the business had a tax benefit of $7.7 million, up from $6.2 million one year…
