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Sep 30, 2023
Leslie's Q4 2023 Earnings Report
Leslie's Q4 2023 financial performance was impacted by multiple transitory headwinds, though brand awareness and customer loyalty remained strong.
Key Takeaways
Leslie's, Inc. reported a decrease in sales and profitability for the fourth quarter of fiscal 2023, with sales declining by 9.1% to $432.4 million and net income decreasing to $16.5 million. The company faced headwinds including decreased retail chemical pricing and inventory adjustments, but maintained high brand awareness and customer loyalty.
Sales decreased by 9.1% to $432.4 million, with comparable sales down 11.0%.
Net income was $16.5 million, a decrease from $57.9 million in the prior year period.
Diluted earnings per share was $0.09, compared to $0.31 in the prior year period.
Adjusted EBITDA was $59.5 million, down from $99.5 million in the prior year period.
Leslie's
Leslie's
Forward Guidance
The Company expects sales between $1,410 to $1,470 million, gross profit between $550 to $573 million, net income between $32 to $46 million, adjusted net income between $46 to $60 million, adjusted EBITDA between $170 to $190 million and adjusted diluted earnings per share between $0.25 to $0.33 for Fiscal Year 2024.
Positive Outlook
- Sales between $1,410 to $1,470 million.
- Gross profit between $550 to $573 million.
- Net income between $32 to $46 million.
- Adjusted net income between $46 to $60 million.
- Adjusted EBITDA between $170 to $190 million.