Loading...
•
Apr 01, 2023
Leslie's Q2 2023 Earnings Report
Leslie's experienced a sales decrease of 6.7% and a comparable sales decline of 13.5% in Q2 2023, driven by the normalization of seasonal purchasing and adverse weather, while non-comparable sales partially offset these headwinds.
Key Takeaways
Leslie's Q2 2023 financial results revealed a decrease in sales by 6.7% to $212.8 million compared to the prior year period. Comparable sales decreased by 13.5%, influenced by the normalization of the seasonal purchasing cycle and adverse weather conditions. Diluted earnings per share was $(0.17), and adjusted diluted earnings per share was $(0.14). The company reaffirms its Fiscal 2023 outlook.
Second quarter sales reached $212.8 million, a decrease of 6.7% from the prior year period.
Comparable sales in the second quarter declined 13.5% compared to the prior year period, driven by the normalization of the seasonal purchasing cycle to pre-pandemic patterns and adverse weather.
Non-comparable sales related to acquisitions and new stores contributed $15.7 million.
Diluted earnings per share was $(0.17) in the second quarter; Adjusted diluted earnings per share was $(0.14) in the second quarter.
Leslie's
Leslie's
Forward Guidance
The Company reaffirms 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