Business
Leslie’s, Inc. Announces Record Results for Fourth Quarter & Fiscal 2021
Announces $300 million Share Repurchase AuthorizationInitiates Guidance for Fiscal 2022 Fiscal 2021 sales growth of 20.7% to $1,342.9 million; Comparable
About this update from Leslie's, Inc.
[{"type":"text","content":"Announces $300 million Share Repurchase AuthorizationInitiates Guidance for Fiscal 2022 Fiscal 2021 sales growth of 20.7% to $1,342.9 million; Comparable sales growth of 21.5% Fiscal 2021 diluted earnings per share increase of 78.1% to $0.67. Adjusted diluted earnings per share increase of 104.7% to $0.85Fiscal 2021 net income increase of 116.0% to $126.6 millionFiscal 2021 Adjusted EBITDA increase of 48.0% to $270.6 millionFiscal 2022 guidance for sales increase of 10% to 12%, Adjusted diluted earnings per share increase of 11% to 18% and Adjusted EBITDA increase of 9% to 13% PHOENIX, Dec. 09, 2021 (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 fourth quarter and fiscal 2021. Mike Egeck, Chief Executive Officer, commented, “We closed out our strongest year in Leslie’s history with a record fourth quarter performance as the execution of our strategic growth initiatives drove significant sales growth and cash generation. These results are a testament to the caliber of our teams and the deep partnerships we have with our vendor community that enabled us to meet the heightened customer demand we saw throughout the year.” Mr. Egeck continued, “As we look ahead into fiscal 2022, our continued investment in talent and strategic growth initiatives put us in a position to drive additional share gains. The strength of our balance sheet and our long history of strong and consistent free cash flow generation allows us to both invest in our initiatives and to initiate a return of capital to shareholders through a new $300 million share buyback authorization. This illustrates our confidence in our business and growth profile as well as our commitment to delivering shareholder value in 2022 and beyond.” The fourth quarter and full year of fiscal 2020 ended October 2, 2020 contained one additional week (the “53rd week”), which added approximately $18 million in sales, $1.5 million in net income, and $3.0 million in Adjusted EBITDA. In addition, the additional week in fiscal 2020 created a calendar shift in fiscal 2021 that impacted comparability of quarterly sales and earnings to the prior year. The combination of the 53rd week and the calendar shift negatively impacted ...