POOL changes
Pick any two versions below to diff them.
- Balance sheet
- Pool Corporation has no public bonds. Its total debt of $1,341 million at June 30, 2026 is all variable-rate bank and securitization debt, mostly at the parent level. The unsecured Credit Facility had $424 million drawn on an $800 million revolver, plus a $500 million term loan, both due September 30, 2029. A separate $90 million term facility has the same final date. A $316 million receivables securitization facility is secured by $447 million of pledged customer receivables. On August 25, 2026, Pool extended this facility to August 25, 2028. The debt is seasonal. It peaks in the second quarter, when supplier payments for winter inventory fall due, and it falls as customers pay in the summer. The covenant leverage ratio was 1.78 at June 30, 2026. This is inside management's 1.5 to 2.0 target and far below the 3.25 maximum. In the first half of 2026, operating income of $350 million covered net interest and other non-operating expense of $27 million about 13 times. Two interest rate swaps fix the rate on $300 million at about 0.7% until February 26, 2027. Interest cost on that part will rise when the swaps end. The company also has $355 million of operating lease liabilities for its sales centers. Cash was only $29 million, but $360 million was available under the Credit Facility. The company uses borrowings, not cash, to fund buybacks, with $580 million of authority left at July 23, 2026. The debt does not limit its choices today. As of 2026-06-30.
- Checkpoints
- Oct 22, 2026 (estimate): Q3 2026 results: peak-season maintenance sales and gross margin. Pending. Watch: Sales growth from maintenance products, a stable gross margin near 30% and confirmed 2026 adjusted EPS guidance of $10.87 to $11.17 pass; lower sales or a guidance cut fails. Feb 2027 (estimate): Full-year 2026 results and first 2027 outlook from new CEO. Pending. Watch: A 2027 outlook with EPS growth and signs that new-pool construction has stopped falling passes; flat or lower EPS guidance or a new strategy that disrupts operations fails. Jul 2027 (estimate): Q2 2027 results: second peak season under CEO Watwood. Pending. Watch: Sales and operating income above Q2 2026 with stable margins pass; a second year of falling operating income fails.