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Highlights ● POOLCORPⓇ ● POOL CORPORATION REPORTS RECORD THIRD QUARTER RESULTS AND INCREASES 2021 EARNINGS GUIDANCE Exhibit 99.1 FOR IMMEDIATE RELEASE Record net sales for third quarter of 2021 reflect overall growth of 24 % from Q3 2020 Q3 2021 operating income of $ 237.3 million , up 60 % from Q3 2020 with a 380 basis point improvement in operating margin Q3 2021 diluted EPS increase of 55 % to a record $ 4.54 or an increase of 64 % to $ 4.44 , without tax benefits in both periods 2021 earnings guidance for the full year increased to $ 14.85 - $ 15.35 per diluted share from previous $ 13.75 - $ 14.25 range COVINGTON , LA . ( OCTOBER 21 , 2021 ) Pool Corporation ( Nasdaq / GSM : POOL ) today reported record results for the third quarter of 2021 and increase 2021 earnings guidance . " I am incredibly proud of the POOLCORP teamEveryone in the field from our drivers , warehouse associates , customer service representatives , field management and those in support roles , came together to produce truly incredible results for the quarter . Their extraordinary efforts , tenacity and unending work ethic continued in the third quarter . Our net sales grew 24 % to a record $ 1.4 billion , fueling 60 % growth in operating income , on top of the 42 % operating income growth that we posted in the third quarter of 2020. Each and every day , our teams have performed remarkably to meet customer demand in challenging conditions , " commented Peter D. Arvan , president and CEO . In the third quarter of 2021 , net sales increased 24 % to a record $ 1.4 billion compared to $ 1.1 billion in the third quarter of 2020 , while base business sales grew 19 % . This growth is on top of 27 % growth in the third quarter of last year , bringing our year - to - date net sales growth to $ 1.2 billion . Our sales continued to benefit from elevated demand for outdoor living products along with favorable weather conditions . Our rigorous commitment to operating efficiency and capacity creation , along with our strategic focus on inventory purchases to serve demand has allowed us to fulfill our customers ' high volumes . Gross profit increased 34 % to a record $ 441.9 million in the third quarter of 2021 from $ 328.7 million in the same period of 2020. Base business gross profit improved 29 % over the third quarter of 2020. Gross margin increased 240 basis points to 31.3 % in the third quarter of 2021 compared to 28.9 % in the third quarter of 2020 , while base business gross margin increased 250 basis points , primarily reflecting benefits from our supply chain management initiatives . Selling and administrative expenses ( operating expenses ) , including the recovery of goodwill and other assets , increased 13 % to $ 204.6 million in the third quarter of 2021 compared to $ 180.5 million in the third quarter of 2020 , while base business operating expenses grew 7 % , primarily due to growth - driven labor , facility and freight costs , along with increased investments in technology . In the third quarter of 2021 , we recovered $ 1.4 million of a $ 2.5 million note impairment recorded in the first quarter of 2020. As a percentage of net sales , operating expenses decreased to 14.5 % in the third quarter of 2021 compared to 15.8 % in the same period of 2020 , reflecting continued strong expense control . Operating income in the third quarter of 2021 increased 60 % to $ 237.3 million compared to $ 148.2 million in the same period in 2020. Operating margin was 16.8 % in the third quarter of 2021 compared to 13.0 % in the third quarter of 2020 while base business operating margin was 17.1 % , up 410 basis points from the prior year period . We recorded a $ 4.2 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 September 30 , 2021 , compared to a tax benefit of $ 8.5 million , or $ 0.21 per diluted share , realized in the same period of 2020 .