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Oct 02, 2021
Leslie's Q4 2021 Earnings Report
Leslie's reported record results for the fourth quarter and fiscal year 2021, driven by strategic growth initiatives and strong cash generation.
Key Takeaways
Leslie's announced record fourth-quarter results, with sales increasing by 6.8% to $408.9 million and net income rising to $44.5 million. The company's strong performance was attributed to the execution of strategic growth initiatives and deep partnerships with its vendor community. Looking ahead, Leslie's is initiating guidance for fiscal year 2022, expecting continued growth and shareholder value delivery through a new $300 million share buyback authorization.
Sales increased by 6.8% to $408.9 million compared to the prior year period.
Gross profit increased by 11.3% to $188.1 million compared to the prior year period, with gross margin increasing to 46.0%.
Net income increased to $44.5 million from $42.6 million in the prior year period.
The Board of Directors authorized a share repurchase program for up to $300 million of its outstanding shares of common stock over the next three years.
Forward Guidance
For fiscal year 2022, Leslie's anticipates sales between $1,475 to $1,500 million, gross profit between $655 to $665 million, net income between $170 to $180 million, adjusted net income between $180 to $190 million, adjusted EBITDA between $295 to $305 million, and adjusted diluted earnings per share between $0.94 to $1.00.
Positive Outlook
- Sales $1,475 to $1,500 million
- Gross profit $655 to $665 million
- Net income $170 to $180 million
- Adjusted net income $180 to $190 million
- Adjusted EBITDA $295 to $305 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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