Pool Corp. (POOL), the distributor of swimming pool products, Tuesday lowered its earnings outlook for the full year, as "cooler and wetter" conditions affected revenues.
Pool now expects full-year earnings of $2.03 to $2.13 per share, down from previous estimate of $2.13 to $2.23 per share.
Chief Executive Manuel Perez de la Mesa said, "Our seasonal markets in North America and Europe, however, experienced cooler and wetter than normal conditions, resulting in later pool openings and reduced consumer purchases in these markets, causing sales to lag our expectations.
The company also expect a disproportionately greater impact on its second quarter results compared to the third and fourth quarters.
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