Business
Leslie’s, Inc. Announces Second Quarter Fiscal 2021 Financial Results; Raises Full Year Outlook
Record second quarter sales of $192.4 million, an increase of 52.3% from prior year quarter; comparable sales growth of 51.3% on a reported basis and 35.5% on
About this update from Leslie's, Inc.
[{"type":"text","content":"Record second quarter sales of $192.4 million, an increase of 52.3% from prior year quarter; comparable sales growth of 51.3% on a reported basis and 35.5% on a shifted basis as a result of the 53rd week in Fiscal 2020GAAP net loss of $(6.5) million compared to $(29.8) million in the prior year quarter; Adjusted net loss of $(2.8) million compared to $(28.8) million in the prior year quarter, an improvement of $26.0 millionAdjusted EBITDA of $9.5 million compared to $(8.1) million in the prior year quarter, an improvement of $17.6 millionRaises Fiscal 2021 sales outlook by $75 million, Adjusted EBITDA by $25 million, and Adjusted net income per share by $0.10 PHOENIX, May 05, 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 second quarter of Fiscal 2021. Mike Egeck, Chief Executive Officer, commented on the results saying “We are very pleased with our second quarter performance which exceeded our expectations and produced record results for the quarter on both the top and bottom line. Broad-based industry tailwinds combined with our integrated and expanding physical and digital capabilities, as well as strong execution of our growth initiatives were the key drivers of this performance. In addition, the unique dynamics of severe weather in the south central U.S. and chlorine retail inflation were positive factors in the quarter.” “As we look to the second half of our fiscal year, our growth initiatives are continuing to gain traction, our teams continue to execute at a high level and we are well prepared for what we believe will be a strong 2021 pool season. Our results to date combined with our expectations for the second half are driving another increase in our full year outlook,” added Mr. Egeck. For the Thirteen Weeks Ended April 3, 2021 Highlights Sales increased 52.3%, or $66.0 million, to $192.4 million from $126.4 million in the second quarter of 2020. Comparable sales on an unshifted basis increased 51.3% for the second quarter of 2021 compared to the second quarter of 2020. On a shifted basis, using a realigned period in 2020 for comparability given the 53rd week in Fiscal 2020, comparable sales increased 35.5%.Gross profit increased 79.6% to $7...