Pool Corporation (NASDAQ: POOL), a leading distributor of swimming pool supplies and services, reported a decline in its third-quarter earnings and sales amid weakening demand for discretionary pool products. However, the company managed to beat analysts' expectations, supported by resilient demand for maintenance products.

For the quarter ended September 30, Pool Corp reported earnings of $125.7 million, or $3.27 per share, down from $137.8 million, or $3.51 per share, a year earlier. Excluding certain tax benefits, the company's adjusted earnings per share came in at $3.26, surpassing the average analyst estimate of $3.16.

The company's third-quarter sales fell 3% year-over-year to $1.43 billion, but still exceeded the mean analyst estimate of $1.403 billion. President and CEO Peter Arvan attributed the sales decline to "pressure" in the discretionary portions of the business, while demand for maintenance products remained steady.