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Dec 31, 2022
Leslie's Q1 2023 Earnings Report
Leslie's reported first quarter results that were in line with expectations despite weather headwinds.
Key Takeaways
Leslie's, Inc. announced its financial results for the first quarter of Fiscal 2023, featuring record sales of $195.1 million, a 5.6% increase compared to the previous year. However, comparable sales declined by 4.0%. The company reported a diluted loss per share of $(0.16), while the adjusted diluted loss per share was $(0.14).
Record first quarter sales of $195.1 million, an increase of 5.6% compared to the first quarter of Fiscal 2022, driven by an increase in non-comparable sales of $17.7 million from acquisitions and new store growth
Comparable sales in the first quarter declined 4.0% compared to the first quarter of Fiscal 2022, driven by adverse weather
Diluted earnings per share was $(0.16) in the first quarter; Adjusted diluted earnings per share was $(0.14) in the first quarter
Reaffirmed Fiscal 2023 outlook
Leslie's
Leslie's
Forward Guidance
The Company reaffirmed its outlook for the full year of Fiscal 2023:
Positive Outlook
- Sales $1,560 to $1,640 million
- Gross profit $667 to $708 million
- Net income $131 to $146 million
- Adjusted net income $145 to $160 million
- Adjusted EBITDA $280 to $310 million
Challenges Ahead
- Adjusted diluted earnings per share $0.78 to $0.86
- Diluted weighted average shares outstanding 185 to 187 million