The Pool & Hot Tub Alliance (PHTA) released their Quarterly Pulse Report for the 3rd quarter of 2023.
These quarterly reports share the sentiments of pool and spa executives about their company’s performance compared to previous quarters, with a look ahead at how they think their company will perform in the next quarter.
The Q3 Pulse Report indicates revenue has remained the same or increased for more than 61% of respondents. A majority of the revenue increase took place in the service, maintenance, and repair sector, where 81% of respondents said revenue was flat (6%) or increased (75%). Echoing this data is revenue for the retail sector, where more than 77% of respondents said revenue was the same (22%) or increased (55%).
In terms of employment, the builder segment remained largely unchanged while the service, maintenance, and repair sector grew substantially, with 54% of respondents reporting increases in headcount. And of those 54% that increased headcount, 67% increased by 6% or more.
Looking at the current backlog of new build projects, the backlog has declined with 61% of respondents experiencing anywhere from a 1% to more than a 15% reduction in backlogs for new pool builds. That said, backlogs for remodel jobs remain at the same level from Q2 to Q3. All said, a majority of builders, service providers, and retailers are optimistic and expecting steady or increased revenue for their companies over the next 12 months. Specifically:
• 87% of service, maintenance, and/ or repair respondents said revenue will be the same or better;
• 67% of builders, designers, and remodelers said revenue will be the same or better; and
• 71% of retailers said revenue will be the same or better.
More than 135 companies participated across all sectors – retail, service, maintenance, hot tubs, and builders. Respondents reiterate that the top two issues weighing on their minds are the economy, including inflation and interest rates, and the ability to recruit and retain staff.
The Q4 Quarterly Pulse Survey will open on January 15, 2024, and closes 15 days later. The opening dates for the remainder of the year for the Quarterly Pulse Survey are:
• Q1 2024 opens April 15.
• Q2 2024 opens July 15.
• Q3 2024 opens October 15.
• Q4 2024 opens January 15, 2025. This survey is open to all industry professionals in the builder, retail, service, maintenance, and hot tub sectors. PHTA plans to release Q4 results by February 15, 2024.
Visit www. phtainsights.com to receive a customized benchmark report, For more information, visit the PHTAResearch Center, or contactAmy Willer, PHTA’s Associate Director of Marketing and Communications, at awiller@phta.org or 703-838-0083, ext. 121.
