Short answer
Pool Corporation (POOL) filed its fiscal 2024 10-K annual report with the SEC on Feb 27, 2025. It reported revenue of $5.3B (−4.2% year over year) and net income of $434M.
- Top risk flagged: Income tax risk from audits by federal, state, and foreign tax authorities across 41 US states and 11 countries with potential adjustments to tax liabilities
FY2024 key financial metrics · XBRL
- Revenue
- $5.3B
- −4.2% YoY
- Net income
- $434M
- −17.0% YoY
- Operating margin
- 11.6%
- −1.9 pp YoY
- Gross margin
- 29.7%
- −0.3 pp YoY
- EPS (diluted)
- $11.30
- −15.4% YoY
- ROE
- 34.1%
- −5.8 pp YoY
- Operating cash flow
- $659M
- −25.8% YoY
Source: XBRL data from the Pool Corporation (POOL) FY2024 10-K on SEC EDGAR. USD.
Pool Corporation FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Distributor of swimming pool and irrigation products to a fragmented customer base across U.S. and Canada
- New emphasis on managing increased risks from extreme weather and climate change impacting supply chains and sales, especially in key markets FL, CA, TX
- Strategic focus on maintaining favorable supplier relationships with key suppliers accounting for 43% of product costs in 2024 to protect margins
- Geographic concentration: FL, CA, TX, AZ markets represented 54% of net sales in 2024, highlighting competitive intensity and exposure
- Noteworthy risk focus on cyberattacks and technology disruptions with ongoing investments in e-commerce and cybersecurity due to increased threat complexity
Management Discussion & Analysis
- Revenue $5.31B in 2024 vs $5.54B in 2023, down approximately $230M YoY driven by mixed weather impacts
- Operating income $617.2M in 2024 vs $746.6M in 2023, operating margin 11.6% vs 13.5%
- Best segment: third quarter sales $1.433B in 2024, slightly lower than $1.474B in 2023; worst Q4 segment sales $987.5M vs $1.003B
- Net income $434.3M in 2024 vs $523.2M in 2023; net margin declined accordingly due to margin compression
- Weather risks elevated with wetter, cooler conditions in key regions impacting sales volume and economic activity in 2024 compared to prior year
Risk Factors
- Income tax risk from audits by federal, state, and foreign tax authorities across 41 US states and 11 countries with potential adjustments to tax liabilities
- Macroeconomic exposure to housing market trends monitored via House Price Index affecting allowance for doubtful accounts and credit losses
- Inventory obsolescence risk with reserve impacting pretax income by $5.3M and EPS by $0.10 per diluted share sensitivity to 20% reserve change
- Competitive risk from evolving customer preferences and product offerings influencing inventory management and sales center stocking strategies
- Goodwill impairment risk with $698.9M goodwill (21% of assets), $401.6M in Porpoise Pool & Patio unit, prior $0.6M impairments due to underperformance
Generated from the filing text; verify against the original. How to read a 10-K
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