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Baird analyst David Manthey advised clients that the impact of Hurricane Ian for Pool Corporation (NASDAQ:POOL), positive or negative, should not be overestimated.
“We expect the financial impact of Hurricane Ian on POOL to be immaterial,” he wrote on Tuesday. “We absolutely do not intend to minimize the human toll, but we expect very little overall net financial impact on POOL from the recent weather disaster.”
Manthey pointed to prior hurricanes as solid indicators that the hurricanes are “non events” for the company despite the expected implications. Historically, the impact has only amounted to about “a week’s worth of business” and will be balanced out by equipment replacements. In the end, the event is “not enough to move the needle,” in Manthey’s view.
As such, he retained a "Neutral" rating on the stock. Shares of the Louisiana-based swimming pool supplies company traded largely flat.
Dig into the company’s latest investor presentation.