Leslie's(US:LESL)2024-08-08 02:26Financial Performance - Sales for the third quarter of 2024 were $570 million, which includes a negative impact of 230 basis points from June 2023 chemical price actions[10] - The company's gross profit was $229 million, but the gross margin rate contracted by 101 basis points compared to the same quarter last year[10] - Adjusted EBITDA was $109 million, a decrease of $20 million compared to the prior year quarter[10] - Adjusted EPS was $034, compared to $041 a year ago[10] Sales Trends - Overall sales decreased by 7%, with comparable sales also down by 7%[10] - PRO Pool sales decreased by 2%, while Residential Pool sales decreased by 8% and Residential Hot Tub sales decreased by 4%[10] - Chemical sales decreased by 1% for the quarter but increased by 5% in June[9] - Non-discretionary sales decreased by 6%, while discretionary sales decreased by 10%[10] Inventory and Customer Metrics - Inventory was reduced by 31%, a decrease of $134 million year-over-year[9, 10] - The customer file remained flat year-over-year[14] - Average revenue per customer decreased by 7%, although loyalty members outperformed with a decrease of 4%[14] Guidance - The company reaffirmed its fiscal year 2024 sales guidance of $1321 million to $1347 million[22]