Pool Slashes FY20 Adj. Earnings Outlook; Boosts Dividend 5% - Quick Facts

(RTTNews) - While reporting financial results for the first quarter, swimming pool distributor Pool Corp. (POOL) on Thursday slashed its adjusted earnings guidance for the full-year 2020.

For fiscal 2019, the company now projects earnings in a range of $5.45 to $6.05 per share, down from the prior guidance range of $6.41 to $6.71 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.40 per share for the year. Analysts' estimates typically exclude special items.

Separately, Pool said its Board of Directors declared a 5 percent higher quarterly cash dividend of $0.58 per share, payable on May 29, 2020, to holders of record on May 15, 2020.