PoolCorp has reported its highest-revenue-generating first quarter in the company’s history.
The megadistributor reported net sales of $546.4 million – a 6% increase over same time in 2016. Gross profits reached $153.6 million, representing a 7% increase over the first quarter 2016.
Adjusted EBITDA rose to $39.8 million, compared with $36.7 million the first quarter of 2016. Meanwhile, cash used in operations dropped from $39.8 million in first quarter 2016 to $32.4 million in the last quarter.
An updated earnings guidance for 2017 provided a range of $4.12 to $4.32 per diluted share.
As of March 31, 2017, PoolCorp operates 344 sales centers in North America, Europe, South America and Australia. It reports carrying more than 160,000 national brand and private-label products and serving approximately 100,000 wholesale customers.
