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Highlights ● ● POOLCORPⓇ ● POOL CORPORATION REPORTS RECORD FIRST QUARTER RESULTS AND INCREASES 2021 EARNINGS GUIDANCE Exhibit 99.1 FOR IMMEDIATE RELEASE Record net sales for Q1 2021 with overall growth of 57 % and 51 % growth in base business Record Q1 2021 operating income of $ 129.0 million , up 263 % from Q1 2020 with a 690 basis point improvement in operating margin Q1 2021 diluted EPS increase of 223 % to a record $ 2.42 , or an increase of 227 % to $ 2.32 , excluding tax benefits in both periods and non - cash impairments recorded in Q1 2020 Net cash provided by operations of $ 77.1 million , an increase of $ 57.4 million from the first three months of 2020 2021 earnings guidance increased to $ 11.85 - $ 12.60 per diluted share from previous $ 9.12 - $ 9.62 range COVINGTON , LA . ( April 22 , 2021 ) Pool Corporation ( Nasdaq / GSM : POOL ) today reported record results for the first quarter of 2021 and increased 202 earnings guidance . " What an incredible quarter , backed by an incredible team . We kicked off the year with truly remarkable results , including record net sales and phenomenal bottom line results . We achieved over $ 1.0 billion in net sales in the first quarter of 2021 , a milestone in our company's history and a reflection of our focus on providing extraordinary customer service . Looking ahead at the remainder of the year , we expect to achieve strong growth tempered by tougher comps in the back half of the year . We are well - positioned to accomplish our strategic initiatives and have the right team in place to continue to build on our legacy of success , " commented Peter D. Arvan , president and CEO . In the first quarter of 2021 , net sales increased 57 % to a record $ 1.06 billion compared to $ 677.3 million in the first quarter of 2020 , while base business sales grew 51 % . Our sales have continued to benefit from elevated demand for residential pool products , driven by home - centric trends influenced by the COVID - 1 ! pandemic . Maintenance , replacement , refurbishment and construction activity remains strong as families create and expand home - based outdoor living and entertainment spaces , resulting in broad sales gains across nearly all product categories . Gross profit increased 59 % to a record $ 301.1 million in the first quarter of 2021 from $ 189.6 million in the same period of 2020. Base business gross profit improved 54 % over the first quarter of 2020. Gross margin increased 40 basis points to 28.4 % in the first quarter of 2021 compared to 28.0 % in the first quarter of 2020. Gross margin was favorably impacted by improvements from supply chain initiatives and timing differences in customer early buy purchases year - over - year , which were partially offset by increased sales of lower margin , big - ticket items in the first quarter of 2021 compared to the first quarter of 2020 . Selling and administrative expenses ( operating expenses ) increased 12 % to $ 172.1 million in the first quarter of 2021 compared to $ 154.0 million in the first quarter of 2020 , reflecting an increase of $ 11.5 million in performance - based compensation expense and increases in other growth - driven costs . As a percentage of net sales , operating expenses decreased to 16.2 % in the first quarter of 2021 compared to 22.7 % in the same period of 2020 due to strong expense control and our ability to leverage our existing network . Operating income in the first quarter of 2021 increased 263 % to $ 129.0 million compared to $ 35.6 million in the same period in 2020. Operating margin was 12.2 % in the first quarter of 2021 compared to 5.3 % in the first quarter of 2020 . We recorded a $ 4.0 million , or $ 0.10 per diluted share , tax benefit from Accounting Standards Update ( ASU ) 2016-09 , Improvements to Employee Share - Basea Payment Accounting , in the quarter ended March 31 , 2021 , compared to a tax benefit of $ 8.0 million , or $ 0.19 per diluted share , realized in the same period of 2020 .