Business
Leslie’s, Inc. Announces Record Results for Fourth Quarter & Fiscal 2022; Provides Fiscal 2023 Outlook
Fourth quarter and Fiscal 2022 sales increased 16.3%; Comparable sales growth of 10.2% in the fourth quarter and 10.6% in Fiscal 2022Diluted earnings per
About this update from Leslie's, Inc.
[{"type":"text","content":"Fourth quarter and Fiscal 2022 sales increased 16.3%; Comparable sales growth of 10.2% in the fourth quarter and 10.6% in Fiscal 2022Diluted earnings per share increased 34.8% to $0.31 in the fourth quarter and increased 26.9% to $0.85 in Fiscal 2022; Adjusted diluted earnings per share increased 34.6% to $0.35 in the fourth quarter and increased 11.8% to $0.95 in Fiscal 2022Fourth quarter Adjusted EBITDA increased 21.3% to $99.5 million; Fiscal 2022 Adjusted EBITDA increased 8.0% to $292.3 millionExpects Fiscal 2023 sales of $1,560 to $1,640 million, Adjusted diluted earnings per share of $0.78 to $0.86 and Adjusted EBITDA of $280 to $310 million PHOENIX, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Leslie's, Inc. (“Leslie's”, “we”, “our” or “its”; 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 2022. The Company will host a meeting for investors and analysts today to review the drivers of its Fiscal 2022 performance, Fiscal 2023 guidance and the Company’s growth opportunities. Please refer to the “Investor Day Webcast” section below for details. Mike Egeck, Chief Executive Officer, commented, “We are pleased to close out the year on a strong note with 16.3% sales growth, a 30.1% increase in net income, and a 21.3% increase in Adjusted EBITDA for the fourth quarter. This performance was enabled by the outstanding work of our supply chain team driving strong DC performance in the quarter. For the full year, execution of our strategic growth initiatives resulted in record sales, gross profit and Adjusted EBITDA, as well as market share gains. “Looking ahead, while we anticipate a challenging macro-economic backdrop for Fiscal 2023, we remain focused on delivering against our long-term objectives supported by the recurring non-discretionary demand of the aftermarket pool industry, the competitive advantages of our integrated network of physical and digital assets and the execution of our strategic growth initiatives,” Mr. Egeck concluded. Fourth Quarter Highlights Sales increased $66.7 million, or 16.3%, to $475.6 million compared to $408.9 million in the prior year period and comparable sales increased 10.2%.Gross profit increased $29.1 million, or 15.5%, to $217.2 million compared to $188.1 million in the pri...