Sales of $397.9 million in the fourth quarter and $1,330.1 million in fiscal 2024Net loss of $9.9 million in the fourth quarter and $23.4 million in fiscal 2024Adjusted EBITDA of $43.0 million in the fourth quarter and $108.7 million in fiscal 2024Diluted earnings per share of $(0.05) in the fourth quarter and $(0.13) in fiscal 2024Adjusted diluted earnings per share of $0.02 in the fourth quarter and $(0.01) in fiscal 2024 PHOENIX, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Leslie’s, Inc. (“Leslie’s”, “we”, “our”, ...

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Jason McDonell Appointed CEO; Joining Company on September 9, 2024 Mike Egeck Departs Leslie's; Chairman John Strain to Serve as Interim CEO Until Mr. McDonell Joins Company Reaffirms Fiscal 2024 Outlook PHOENIX, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Leslie's, Inc. ("Leslie's" or the "Company"; NASDAQ: LESL), the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry, today announced the appointment of Jason McDonell as Chief Executive Officer, effective September 9, 2024. Mr. ...

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Leslie's, Inc. (NASDAQ: LESL) on behalf of long-term stockholders following a class action complaint that was filed against Leslie's on September 8, 2023 with a Class Period from February 5, 2021 to July 13, 2023. Our investigation concerns whether the board of directors of Leslie's have breached their fiduciary duties to the company. The Cla ...

Financial Data and Key Metrics Changes - Total fiscal third quarter sales were $570 million, down 7% year-over-year, impacted by unfavorable weather and continued weakness in discretionary product sales [10][18] - Gross margin was 40%, down 101 basis points year-over-year, primarily due to chemical price actions and occupancy deleverage [13][20] - Adjusted EBITDA was $109 million, compared to $129 million in the same period last year, with adjusted diluted earnings per share at $0.34, down from $0.41 [21][22] Business Line Data and Key Metrics Changes - Residential pool sales declined 8%, PRO pool sales were down 2%, and residential hot tub sales decreased by 4% [18] - Chemical sales improved to down 1% in the quarter, with a positive year-to-date volume, while equipment sales were down 15% [11][25] - Discretionary product sales were down 10%, showing a sequential improvement from the previous quarter [11][25] Market Data and Key Metrics Changes - Total transactions were down 2% year-over-year, with traffic improving to down 5% in the quarter from down 10% in the second quarter [10][9] - The company outperformed specialty pool retailers in sales growth during the third quarter, indicating a gain in market share [11][12] - Digital traffic share grew during the quarter, reflecting an increase in online engagement [11] Company Strategy and Development Direction - The company aims for long-term sales growth in the mid-single digits, targeting a gross margin of 40% and an adjusted EBITDA margin in the mid-teens [7][14] - Strategic initiatives include enhancing customer loyalty programs, expanding PRO contracts, and pursuing store growth while prioritizing debt reduction [15][16][27] - The company is focused on improving operational efficiency and profitability through cost management and inventory reduction [26][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing normalization of industry demand post-pandemic and the impact of weather on sales [4][28] - There are positive signs emerging, such as improved chemical sales and a return to pre-pandemic equipment unit volumes [25][28] - The company remains cautious about consumer spending due to inflation and high interest rates, which may affect future performance [8][28] Other Important Information - The company ended the quarter with $784 million outstanding on its secured term loan, a decrease from the previous year [22] - Cash and cash equivalents increased to $74 million, up from $19 million in the prior year [23] - Inventory levels decreased by 31% year-over-year, indicating improved supply chain management [23] Q&A Session Summary Question: Understanding the shortfall in 3Q versus prior guidance - Management explained that the shortfall was primarily due to lower transactions and average order value, driven by cautious consumer behavior and weather impacts [31][32] Question: Gross margin outlook and headwinds - Management indicated that the difference in gross margin targets is due to changes in business mix, with lower margins in the growing PRO business [34][35] Question: Performance of loyalty customers - Loyalty customers continue to outperform non-members, and management is focused on increasing loyalty penetration [40][41] Question: Chemical pricing and market dynamics - Management noted that chemical pricing has stabilized, and they do not anticipate significant price deflation in the near future [62][63] Question: Fourth quarter sales outlook - The outlook for Q4 reflects continued cautious consumer behavior and potential weather disruptions, with a projected sales decline of around 7% [57][58]

Leslie's, Inc. (LESL) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this company would post a loss of $0.17 per share when it actually produced a loss of $0.17, delivering no surprise. Over the last four quarters, the company has surpassed ...

Investors in Leslie's, Inc. (LESL) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $15.00 Call had some of the highest implied volatility of all equity options today. Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event comi ...

This has it expecting adjusted earnings per share of 32 cents to 33 cents alongside revenue of roughly $570 million for the quarter. For comparison, Wall Street is expecting adjusted EPS of 42 cents with revenue of $615.41 million for the period. "The cold and wet spring weather we experienced during the fiscal second quarter extended through May, reducing the number of pool days in non-seasonal markets and delaying the start of pool season in seasonal markets. We also continued to see weakness in large tic ...

Fiscal third quarter results impacted by unfavorable April and May weather resulting in a delayed start to the pool season; Company performance improved in June with warmer weather Continued weakness in discretionary product categories due to persistent inflation and high interest rates Company updates fiscal 2024 outlook based on year-to-date performance and current trends Considering these preliminary results and expectations for the fourth quarter of fiscal 2024, the Company is revising its full year fis ...