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Leslie’s, Inc. Announces First Quarter Fiscal 2025 Financial Results; Provides Second Quarter and Full Year Fiscal 2025 Outlook
LESLLeslie's(LESL) GlobeNewswire·2025-02-06 21:05

Core Insights - Leslie's, Inc. reported financial results for the first quarter of fiscal 2025, highlighting a focus on customer-centric transformation and strategic initiatives aimed at improving performance [2][5][6]. Financial Performance - Sales reached 175million,anincreaseof0.7175 million, an increase of 0.7% compared to 174 million in the prior year [5][6]. - The company experienced a net loss of 44.6million,comparedtoalossof44.6 million, compared to a loss of 39.6 million in the prior year [6][25]. - Adjusted EBITDA was (29.3)million,reflectingtransformationalexpensesandatthelowerendofguidance[5][6].Dilutedearningspersharewere(29.3) million, reflecting transformational expenses and at the lower end of guidance [5][6]. - Diluted earnings per share were (0.24), compared to (0.21)intheprioryear[6][25].OperationalHighlightsComparablestoresalesincreasedby0.2(0.21) in the prior year [6][25]. Operational Highlights - Comparable store sales increased by 0.2%, marking the first gain in two years [2][5]. - Gross profit was 47.7 million, a decrease of 5.4% from 50.4millionintheprioryear,withagrossmarginof27.250.4 million in the prior year, with a gross margin of 27.2% [6][25]. - Selling, general and administrative expenses were 87.4 million, slightly up from 86.9millionintheprioryear[6][25].BalanceSheetandCashFlowCashandcashequivalentstotaled86.9 million in the prior year [6][25]. Balance Sheet and Cash Flow - Cash and cash equivalents totaled 11.6 million, an increase of 3.2millionfrom3.2 million from 8.4 million as of December 30, 2023 [4][11]. - Inventories decreased by 18.8% to 271.1millioncomparedto271.1 million compared to 334 million in the prior year [11][29]. - Funded debt was 796.7million,downfrom796.7 million, down from 825.7 million as of December 30, 2023 [11][29]. Future Outlook - For the second quarter of fiscal 2025, the company expects sales between 179millionand179 million and 189 million, with a net loss projected between (47)millionand(47) million and (44) million [7]. - The full year outlook anticipates sales of 1,304millionto1,304 million to 1,370 million, with an expected net loss ranging from (10)millionto(10) million to 5 million [8].