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Dec 28, 2024
Leslie's Q1 2025 Earnings Report
Leslie's, Inc. announced its first quarter fiscal 2025 financial results, reporting a slight increase in sales and a net loss, while providing an outlook for the second quarter and full fiscal year 2025.
Key Takeaways
Leslie's, Inc. reported first quarter fiscal 2025 sales of $175.2 million, a 0.7% increase year-over-year, and a net loss of $44.6 million. The company's Adjusted EBITDA was $(29.3) million, reflecting typical operational deleverage during the pool offseason and including transformational expenses.
Sales increased by 0.7% to $175.2 million, reaching the top end of financial guidance.
The company reported a net loss of $44.6 million, which is typical for the seasonal offseason.
Adjusted EBITDA was $(29.3) million, at the lower end of guidance, impacted by transformational expenses.
Diluted earnings per share were $(0.24), with Adjusted diluted earnings per share at $(0.22).
Leslie's
Leslie's
Forward Guidance
For the second quarter of fiscal 2025, Leslie's, Inc. anticipates sales between $179 million and $189 million, with a projected net loss ranging from $(47) million to $(44) million. The full year fiscal 2025 outlook projects sales between $1,304 million and $1,370 million, with an Adjusted EBITDA of $96 million to $116 million.
Positive Outlook
- Expected sales growth for Q2 2025, with a range of $179 million to $189 million.
- Anticipated full year fiscal 2025 sales between $1,304 million and $1,370 million.
- Projected full year Adjusted EBITDA of $96 million to $116 million.
- Expected positive Adjusted diluted earnings per share for the full year, ranging from $(0.01) to $0.07.
- The company is focused on customer-centric transformation and strategic initiatives to drive positive change and prepare for the pool season.
Challenges Ahead
- Expected net loss for Q2 2025, ranging from $(47) million to $(44) million.
- Anticipated Adjusted net loss for Q2 2025, ranging from $(46) million to $(42) million.
- Projected Adjusted EBITDA for Q2 2025 is negative, ranging from $(38) million to $(33) million.
- Expected diluted loss per share for Q2 2025, ranging from $(0.25) to $(0.23).
- The outlook includes expected higher occupancy costs, payroll and benefits, and transformational expenses.