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Why Summer Means Big Bucks For Companies | CNBC Marathon
Posted
July 16, 2022
Views
294,935
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1,513
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83
Engagement
0.54%
July 16, 2022
294,935
1,513
83
0.54%
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CNBC Marathon explores how companies are cashing in on summer.
Over the last several decades, a growing number of Americans have chosen to spend more time and money on swimming pools. Many Americans are moving to the suburbs, migrating to warmer states and increasingly looking to make their own yards better places to spend time. Most pools can be found in California, Texas and Florida, but population growth in other Southern states is escalating the demand for pool construction and supplies. Pool Corporation, one of the largest pool supply distributers, has seen its stock price soar. Retailers and distributors such as Leslie’s and Pool Corp. are aiming to conquer the large and growing pool supply market, which offers pretty steady revenues from consumers trying to keep their pool water from turning green.
The outdoor deck is another summer staple. During the Covid-19 pandemic, Americans stuck at home started to take a hard look at their surroundings, leading to a home improvement boom. Skyrocketing demand and historically high lumber prices bear excellent fortune for a couple of publicly traded companies that make a rather humble-sounding product – fake wood decks. Two of the biggest names in this space are Trex and AZEK. Together they control 75 percent of the composite decking market.
In addition to pools and decks, about a third of Americans spend at least some time on a boat. In the landscape of recreational power sports, which includes boats, some categories have seen their fair share of struggles in recent years. But boat industry revenues have been mostly growing. Boat sales have seen a boost during Covid, but some analysts think the growth is poised to continue.
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Why Summer Means Big Bucks For Companies | CNBC Marathon
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