As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at specialized consumer services stocks, starting with Pool (NASDAQ:POOL).
Some consumer discretionary companies don’t fall neatly into a category because their products or services are unique. Although their offerings may be niche, these companies have often found more efficient or technology-enabled ways of doing or selling something that has existed for a while. Technology can be a double-edged sword, though, as it may lower the barriers to entry for new competitors and allow them to do serve customers better.
The 9 specialized consumer services stocks we track reported a weaker Q2. As a group, revenues missed analysts’ consensus estimates by 0.8% while next quarter’s revenue guidance was in line.
Inflation progressed towards the Fed’s 2% goal at the end of 2023, leading to strong stock market performance. On the other hand, 2024 has been a bumpier ride as the market switches between optimism and pessimism around rate cuts and inflation, and specialized consumer services stocks have had a rough stretch. On average, share prices are down 5.1% since the latest earnings results.
Pool (NASDAQ:POOL) Founded in 1993 and headquartered in Louisiana, Pool (NASDAQ:POOL) is one of the largest wholesale distributors of swimming pool supplies, equipment, and related leisure products.
Pool reported revenues of $1.77 billion, down 4.7% year on year. This print exceeded analysts’ expectations by 1.5%. Overall, it was a decent quarter for the company with a solid beat of analysts’ organic revenue estimates.
“Looking ahead, our team is focused on providing an exceptional customer experience and, with our strong balance sheet, we remain committed to our strategic growth investments, capacity creation efforts and innovation,” commented Peter D. Arvan, president and CEO.
Interestingly, the stock is up 5.5% since reporting and currently trades at $344.04.
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Best Q2: Carriage Services (NYSE:CSV) Established in 1991, Carriage Services (NYSE:CSV) is a provider of funeral and cemetery services in the United States.
Carriage Services reported revenues of $102.3 million, up 4.8% year on year, outperforming analysts’ expectations by 7.7%. It was a strong quarter for the company with full-year revenue guidance exceeding analysts’ expectations.
Carriage Services delivered the biggest analyst estimates beat and highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.6% since reporting. It currently trades at $30.34.
Weakest Q2: Matthews (NASDAQ:MATW) Originally a death care company, Matthews International (NASDAQ:MATW) is a diversified company offering ceremonial services, brand solutions and industrial technologies.
Matthews reported revenues of $427.8 million, down 10.9% year on year, falling short of analysts’ expectations by 10%. It was a weak quarter for the company with a miss of analysts’ earnings estimates.
Matthews posted the weakest performance against analyst estimates in the group. As expected, the stock is down 12% since the results and currently trades at $24.67.
Mister Car Wash (NYSE:MCW) Formerly known as Hotshine Holdings, Mister Car Wash (NYSE:MCW) offers car washes across the United States through its conveyorized service.
Mister Car Wash reported revenues of $255 million, up 7.7% year on year, in line with analysts’ expectations. Zooming out, it was a decent quarter for the company with an impressive beat of analysts’ earnings estimates but underwhelming earnings guidance for the full year.
Mister Car Wash scored the fastest revenue growth among its peers. The stock is down 11% since reporting and currently trades at $6.77.
ADT (NYSE:ADT) Founded in 1874 and headquartered in Boca Raton, Florida, ADT (NYSE:ADT) is a provider of security, automation, and smart home solutions, offering comprehensive services for home and business protection.
ADT reported revenues of $1.20 billion, up 3.1% year on year, in line with analysts’ expectations. More broadly, it was a solid quarter for the company with an impressive beat of analysts’ earnings estimates and in-line earnings guidance for the full year.
The stock is down 8.7% since reporting and currently trades at $7.10.
This content was originally published on Stock Story
