Pool Corporation (POOL)

Got it wrong. Sold last summer. Selling pool consumables is less cyclical and discretionary than a whole new pool. Consumer confidence didn't bounce back, Fed slower to cut rates. Still a great company.

Excellent business. Difficult comparisons from Covid sales, but thought those days were over. Fed moved more slowly lowering rates, consumers became reticent on big-ticket items. Sold last August.

Shares fell yesterday after they lowered guidance. Labour costs to fix homes, including installing pools, remain extortionate; labour costs need to go down.

Steady dividend increases good for investors. Quality company that continues to own shares in. Leading company within pool category. Pool services and chemical products business also very strong. Warming climate also good for business. 

World's largest distributor of swimming pool and supplies. Leading supplier of landscaping supplies in USA. 400 sales centers and have dominant market share regionally. Capital light growth model equates to a ~40% on their shareholder capital. Dividend growing in double digits. Growth in Southern US states along with warmer weather creating higher demand for products. Long term, a very good investment. Stock entering strong period of year for sales.