PoolCorp (POOL) Q2 2025 earnings summary

Executive summary

• Net sales increased 1% year-over-year in Q2 2025 to $1.8 billion, driven by maintenance product strength and improved discretionary trends.

• Gross profit rose by $5.0 million to $535.2 million, maintaining a 30.0% gross margin; operating income increased by $1.2 million to $272.7 million with a 15.3% margin.

• Diluted EPS for Q2 2025 grew 4% year-over-year to $5.17; net income reached $194.3 million, up from $192.4 million in Q2 2024.

• Inventory levels rose 3% year-over-year to $1.33 billion, supporting expanded product offerings and in-season demand.

• Opened four new sales centers and closed one, expanding the network to 451 locations globally.

Financial highlights

• Q2 2025 net sales: $1.78 billion (+1% year-over-year); gross profit: $535.2 million (30.0% margin); operating income: $272.7 million; net income: $194.3 million.

• Adjusted EBITDA for Q2 2025 was $292.1 million, up from $287.3 million in Q2 2024.

• Six-month net sales: $2.86 billion (-1% year-over-year); six-month net income: $247.8 million (-9% year-over-year); six-month diluted EPS: $6.57 (-7% year-over-year).

• Debt/EBITDA ratio was 1.47x at Q2 2025; total debt outstanding rose by $113.4 million to $1.23 billion.

• Share repurchases totaled $156.4 million in the first half of 2025; $253 million returned to shareholders including dividends.

Outlook and guidance

• Full-year 2025 sales expected to be flat versus 2024, with tariffs contributing ~1% to net sales.

• Gross margin for 2025 projected in line with 2024 at 29.7%, with Q2 as the highest margin quarter.

• 2025 diluted EPS guidance: $10.80–$11.30, including a $0.10 per share tax benefit year-to-date.

• Operating expenses for 2025 expected to rise 2–3% year-over-year; interest expense projected at $45M to $47M, annual tax rate around 25%.

• Management remains confident in long-term industry strength and operational efficiency.