Business
Leslie’s, Inc. Announces First Quarter Fiscal 2025 Financial Results; Provides Second Quarter and Full Year Fiscal 2025 Outlook
Sales of $175 million, up 0.7% and at the top end of financial guidance Net loss of $45 million, reflecting typical operational deleverage during pool
About this update from Leslie's, Inc.
[{"type":"text","content":"Sales of $175 million, up 0.7% and at the top end of financial guidance Net loss of $45 million, reflecting typical operational deleverage during pool offseasonAdjusted EBITDA of $(29) million; at the lower end of guidance and includes transformational expensesDiluted earnings per share of $(0.24); Adjusted diluted earnings per share of $(0.22)CEO to outline the first set of strategic initiatives on the earnings conference call PHOENIX, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Leslie’s, Inc. (“Leslie’s”, “we”, “our”, “its”, or “Company”; NASDAQ: LESL), the largest and most trusted direct-to-customer brand in the U.S. pool and spa care industry serving residential customers and pool professionals nationwide, today announced its financial results for the first quarter of fiscal 2025. Jason McDonell, Chief Executive Officer, said, “Our team has been focused to start fiscal 2025 as we undertake our customer-centric transformation journey. I’m inspired by the progress from the Leslie’s team in these early days of executing our strategic plan. As I shared last quarter, this plan is centered around the key strategic themes of Customer Centricity, Convenience, and Asset Utilization, and the actions we are taking are expected to drive positive change. We will share our first set of related initiatives on our first quarter earnings call today. We expect these initiatives will put us in an even better position as we continue to prepare to win the pool season.” Mr. McDonell continued, \"We met our revenue expectations for our first quarter of fiscal 2025, reporting our first comparable store sales gain in two years. We saw a number of key categories improve both sequentially and year-over-year. The smaller contributing fiscal first quarter results in an associated loss and is typical for our seasonal business. This is a key time as we invest during our offseason and build inventory to prepare to win the pool season and deliver growth during our meaningful third and fourth fiscal quarters. Our profitability in the quarter was largely in-line and incrementally impacted by some strategic transformational expenses, including inventory adjustments and professional fees to facilitate our transformation journey. Our outlook reflects year-to-date performance trends and includes expected higher occupancy costs, payroll and benefits, and the transformationa...