Pool News
Pool Suppliers Revenue Way Up During Year 2 of Covid
Recently, there has been a surge in demand for pool services, thanks to the Covid-19 pandemic. As a result, pool suppliers and contractors continue to earn higher profits and revenues. One of the companies that greatly benefited from the increased demand is Pool Corp. Pool Corp (POOL) is a company that distributes pool equipment, among other supplies. The Louisiana-based company has experienced a significant rise in its market share this year.
Metric | Q2 2020 Result | Wall Street’s Q2 2021 Consensus Estimate | Wall Street’s Projected Change |
---|---|---|---|
Revenue | $1.28 billion | $1.73 billion | 35% |
Adjusted earnings per share (EPS) | $3.87 | $5.48 | 42% |
Increase in pool suppliers revenue due to pool demand
Pool Corp is, however, not the only company that is benefiting from this increased demand. Many pool companies have grown tremendously over the past year. This is because more homeowners were looking for ways to spice up their backyards amid the covid-19 movement restrictions. And this explains the reason for the high demand for pool services.
Remember, the global pandemic forced homeowners to enjoy their indoor/outdoor spaces. Consequently, the majority of individuals became more willing to spend on upgrading their outdoor spaces. In fact, statistics show that the number of inground pools built last year rose by 21% from 2019. In addition, according to MarketWatch, permits in warmer states like Florida rose by 30%.
There has never been such an abrupt and tremendous growth in the pool industry. 2020 was undoubtedly an industry changer for us. The last time the pool industry experienced such growth was in 1983, and it wasn’t this much.
PHTA spokesperson Janay Rickwalder
Make your money work for you
The increased demand was good for most pool distributors and suppliers like Pool Corp. Pool companies saw a tremendous increase in their revenues and profits. In particular, Pool Corp’s earnings tripled. On the other hand, another pool supply company, Leslie’s, saw a 52% increase in sales last year.
Owner of Budd’s Pools & Spas, Randy Budd, says, “We have never seen such demand for our pool construction services as we did last year.”
Demand for Pool costruction and services
Nonetheless, it is essential to note that the pandemic is not the only reason for the surge in demand for pool services. According to the Consumer News and Business Channel (CNBC), the demand for pool construction services has also risen because more Americans are moving to warmer regions and urban areas.
Although pool suppliers have greatly benefited from the high demand for pool services, they are experiencing a major problem; fewer swimming pool supplies. Currently, there are less swimming pool supplies like chlorine. Remember, the primary chlorine tablet manufacturer experienced great loss from the fire in Louisiana. Thus, it is hard to find chlorine tablets. And it forces pool suppliers to raise their chlorine tablet prices since the demand is still high.
Budd says, “There is a shortage of almost all pool supplies in the industry; the demand is constantly rising.”
Some pool suppliers like St. Cyr Pool & Spa in Middleton, Mass, have increased their chlorine prices by 50%. So, pool experts are now advising pool owners to consider using other pool sanitation systems. Examples of these sanitation systems include UV and Ozone systems.
Chad Moentenich, Showroom manager at Prestige Pools & Spas, says that they have never received a lot of calls like this year. He says, “Homeowners are looking for all kinds of features to make their yards more functional. Spas, hot tubs, aboveground pools, inground pools are therefore in high demand at the moment.
Chad says that it often takes roughly six to eight months to complete building an inground pool. But pool professionals can no longer deliver within this construction period. Pool construction is now taking longer since pool contractors are extremely busy.
Increased revenue in the pool industry
At the beginning of the covid-19 pandemic, pool industry veterans were afraid that business would go down. This was because of the recession that went down in 2008. Fortunately, this incidence did not reoccur last year. In fact, businesses became bigger and better. Most people are now working from home. So, they are looking for different ways to make their stay worthwhile.
Furthermore, since individuals couldn’t go for their yearly vacations anymore, they sought to create mini staycations in their yards. Besides, adding a pool to your yard helps you keep your children occupied throughout the entire summer. Nevertheless, swimming pools are currently getting reopened. But this is not expected to tamper with the increased demand for pool services.
Pool News
French Diver Makes Splash After Flop At Opening of Olympic Pool
French Olympic diver, Alexis Jandard, created a memorable moment at the grand opening of Paris’s new Olympic pool, though not quite in the manner he had envisioned.
A startling video captured during the inauguration of the state-of-the-art Paris Aquatics Center on Thursday showcased the 26-year-old Olympian’s unfortunate landing on his right foot while gearing up to dive alongside two fellow athletes. Adorned in a Speedo reflecting the hues of the French flag, Jandard’s discomforting descent saw him landing on his back, ricocheting off the nearly 10-foot-high dive board, and somersaulting into the pool in a rather ungraceful manner.
The incident unfolded in front of a sizable crowd of onlookers, including French President Emmanuel Macron and various dignitaries. Jandard later displayed his scraped back on his Instagram account, maintaining a light-hearted approach to his embarrassing mishap by quipping, “For your information, my back is fine, but my ego…”
Sharing a photo of his reddened back, courtesy of the encounter with the diving board, on Instagram Stories, Jandard assured followers of his well-being. Speaking to RMC Sport, he recounted the unexpected turn of events, stating, “I’m fine. I didn’t hurt myself; unfortunately, these things happen. It happened at a time when I wasn’t expecting it at all.”
Reflecting on the incident, Jandard humorously noted, “I’ve broken boards before, but the board had never broken me before. Now it has.” Despite the hiccup, he maintained an optimistic outlook, remarking, “I would have preferred this ceremony to have gone well from A to Z. There was that little hitch. If it made people smile a little, so much the better.”
Explaining the mishap, Jandard clarified that his leg gave way upon landing but denied any slippage, emphasizing, “It’s a non-slip [board], and what’s more, the board was new, beautiful, and I think there’s still [some of] my back on the board there.”
With a silver and bronze under his belt at the 2022 and 2023 World Aquatics Championships, respectively, Jandard took the incident in stride, admitting, “It’s a shame, but it’s funny. When you take a step back, it’s funny.”
Looking ahead to the 2024 Paris Games this summer, where he is set to compete, Jandard acknowledged the inevitability of such occurrences in his sport, jesting, “These things happen,” while playfully lamenting, “It had to happen in front of the president and the whole of France. I think we chose the right moment.”
Despite being inundated with supportive messages and playful jabs, Jandard maintained a good-natured stance, urging his followers on Instagram, “Enjoy yourselves, make fun of me. I seriously deserve it!”
Pool News
Earthquake in Taiwan Causes Waterfall From Rooftop Pool
A massive earthquake in Taiwan transforms a rooftop pool into a waterfall. View viral footage.
In a harrowing turn of events, Taiwan was struck by a powerful 7.4 magnitude earthquake, leaving devastation in its wake. The quake, the strongest to hit the island in 25 years, shook the east coast of Taiwan, particularly affecting the city of Hualien and its surrounding areas. With a depth of 34.8 kilometers, the epicenter of the earthquake was located 18 kilometers south of Hualien, according to the US Geological Survey.
As rescue efforts are underway to free those trapped under rubble and debris, the toll of the disaster continues to rise. At least nine individuals have lost their lives, while over 900 others have sustained injuries. The aftermath of the earthquake has left over 100 buildings damaged, with reports of landslides and collapsed structures adding to the chaos.
The force of the quake was so immense that it caused a surreal sight—a rooftop swimming pool overflowing and cascading down the side of a building, creating an impromptu waterfall. Footage captured during the earthquake also shows the sheer force as a man inside a pool struggles to maintain balance, the water swaying violently from side to side.
The region of Hualien County, with a population of approximately 300,000, faces immense challenges in assessing the full extent of the damage. Many inhabitants reside in remote coastal or mountain communities, making it difficult for rescue teams to reach them promptly. The precarious situation is exacerbated by the expectation of aftershocks, with 29 aftershocks greater than a magnitude of 4.0 already recorded near the epicenter.
Compounding the crisis are reports of miners trapped in two mines in Hualien, adding urgency to the rescue operations. Furthermore, over 91,000 households are grappling with power cuts, amplifying the difficulties faced by residents in the aftermath of the disaster.
Despite the widespread destruction, medical facilities in Taiwan’s capital, Taipei City, are functioning, albeit damaged. The Municipal Government has confirmed that hospitals are operating normally, providing critical care to the injured.
The international community has responded swiftly to the catastrophe, with the Biden administration monitoring the situation closely and expressing readiness to offer assistance. In the face of adversity, Taiwan is rallying its resources and resilience, demonstrating solidarity and resolve in confronting this natural disaster.
As the dust settles and the extent of the damage becomes clearer, questions arise about the effectiveness of early warning detection systems in mitigating the impact of natural disasters. Despite Taiwan’s investment in advanced seismic technology, including early warning systems designed to provide crucial seconds of alert before an earthquake strikes, many residents were caught off guard by the sudden and violent tremors. Reports indicate that the early warning detection system, while operational, did not reach a significant portion of the population in time to take preventive action
Pool News
Patent Pending Apple Watch SOS Feature Could Prevent Drownings
A forthcoming feature potentially destined for the Apple Watch, as detailed in a recent patent application, could serve as a lifesaver for swimmers at risk of drowning.
Outlined in the patent is a capability for the Watch to identify “irregular behavior” and automatically trigger a distress call for assistance.
Apple underscores the alarming statistics surrounding drowning, particularly its prevalence among children, as a leading cause of accidental fatalities.
In the United States alone, drowning claims the lives of over 3,500 individuals annually, ranking as the fifth most common form of accidental death. Tragically, a significant portion of these victims are children.
Emphasizing the critical importance of swift intervention during water emergencies, Apple highlights the dire consequences of prolonged submersion without resuscitation, which can result in brain damage and ultimately, drowning.
A Growing Need For Cost-Effective Wearable Solutions
While acknowledging existing underwater camera systems in some swimming pools aimed at detecting distressed swimmers and alerting lifeguards, Apple notes their costliness and unreliability.
Consequently, there’s a pressing need for a simpler, more cost-effective drowning prevention solution suitable for all types of water bodies, including public and private pools, as well as natural settings like lakes and ponds where installing underwater cameras is impractical.
The patent proposes leveraging wearable devices such as the Apple Watch for broader applicability, increased reliability, and the ability to detect various types of emergencies.
Alerting When Swimmers Are In Distress
For instance, if the Watch detects a wearer who is not proficient in swimming entering deeper water, it can promptly dispatch an alert instead of waiting for signs of distress.
These alerts can be transmitted to nearby devices, including those of friends and family, and seamlessly integrate with existing drowning detection and alarm systems to ensure lifeguards are promptly notified.
Apple Watches already boast capabilities to detect and respond to falls, vehicle accidents, and cardiac irregularities. Heartwarming testimonials featured in Apple’s “Dear Apple” video series show individuals whose lives were saved by these functionalities.
As with many patents from Apple, it’s important to note that not all concepts may materialize into actual products. Nonetheless, this innovation stands as a promising addition for potential integration into future watchOS updates.
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