Business
Leslie’s, Inc. Announces First Quarter Fiscal 2022 Financial Results
Repurchased 7.5 million Shares Under Share Repurchase ProgramRaises Full Year Outlook Record first quarter sales of $184.8 million, an increase of 27.5%;
About this update from Leslie's, Inc.
[{"type":"text","content":"Repurchased 7.5 million Shares Under Share Repurchase ProgramRaises Full Year Outlook Record first quarter sales of $184.8 million, an increase of 27.5%; Comparable sales growth of 20.5% Net loss improved by $15.8 million to $(14.5) million; Adjusted net loss of $(10.9) million compared to $(10.6) million in the prior year periodDiluted earnings per share improved to $(0.08) compared to $(0.17) in the prior year period. Adjusted diluted earnings per share remained consistent at $(0.06) compared to the prior year periodAdjusted EBITDA increased by $1.3 million to $1.1 million compared to $(0.2) million in the prior year periodRepurchased 7.5 million shares for $152 million during the first quarter under the share repurchase program; $148 million remaining under the existing authorizationRaises Fiscal 2022 sales outlook by $20 million, gross profit by $10 million, Adjusted EBITDA by $5 million, and Adjusted earnings per share by $0.03 PHOENIX, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Leslie's, Inc. (\"Leslie's\" or \"the Company”; NASDAQ: LESL), the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry, today announced its financial results for the first quarter of Fiscal 2022. Mike Egeck, Chief Executive Officer, commented, \"We are very encouraged by our start to Fiscal 2022. Continued industry tailwinds, the competitive advantages derived from our integrated platform of physical and digital assets, and strong execution of our strategic growth initiatives drove record first quarter results. With this strong start, we remain confident in our ability to continue to perform at a high level for the balance of the year.\" For the Thirteen-Weeks Ended January 1, 2022 Highlights Sales increased $39.8 million, or 27.5%, to $184.8 million compared to $145.0 million in the prior year period. Comparable sales increased 20.5%.Gross profit increased $15.6 million, or 30.2%, to $67.3 million compared to $51.7 million in the prior year period and gross margin increased 70 basis points to 36.4% compared to 35.7% in the prior year period.Selling, general and administrative expenses (\"SG&A\") increased $2.3 million, or 3.0%, to $79.8 million compared to $77.5 million in the prior year period, primarily driven by the sales increase, continued investments to support Company growth, and expenses associated with acquisiti...