Leslie's(US:LESL)2025-07-09 12:12Company Overview - Leslie's is the largest direct-to-consumer brand in the pool and spa care industry, with fiscal year 2021 sales exceeding $1.3 billion, representing a 20.7% sales growth[14] - The company's adjusted EBITDA for fiscal year 2021 was $271 million, a 48% increase[14] - Leslie's operates 970 locations across 39 states[24] Market Opportunity - The U S pool and spa aftermarket opportunity is estimated at $14 billion[22, 35] - The addressable market includes 8.7 million residential pools representing a $7.6 billion total addressable market (TAM)[31] - There are 5.5 million addressable spas representing a $2 billion TAM[33] - The professional pool market includes 250,000 commercial pools and 45,000 pool professionals, representing a $4.3 billion TAM[35] Growth & Financial Performance - First half of fiscal year 2022 sales reached $413 million, a 22% increase[82] - The company's first half of fiscal year 2022 adjusted EBITDA grew by 5.5% to $10 million[82] - The PRO business grew by 27% in the first half of fiscal year 2022 and represents approximately 15% of last twelve months (LTM) total sales[85] Fiscal Year 2022 Guidance - Revised fiscal year 2022 sales guidance is between $1.575 billion and $1.61 billion, representing a 17%-20% growth[89] - Revised fiscal year 2022 adjusted EBITDA is projected to be between $315 million and $330 million, a 16%-22% increase[89]