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Why Pool Corporation's Shares Plunged 10% Today

TheMotleyFool

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Why Pool Corporation's Shares Plunged 10% Today

Shares of Pool Corporation (NASDAQ: POOL) fell as much as 10.4% in trading Thursday after the company reported second-quarter earnings. At 2:05 p.m. EDT, shares were still down 8.3% for the day.

Net sales rose 8% to $988.2 million, and base business sales growth was 7%. Operating income also rose 8% to $154.2 million, while net income was up 11.1% to $94.9 million, or $2.21 per share. The bottom-line results fell 3 cents short of analyst estimates, but top-line sales easily surpassed the $982.7 million analysts were expecting.

Image source: Getty Images.

Source: Fool.com