Business
Leslie’s, Inc. Announces Second Quarter Fiscal 2022 Financial Results; Raises Full Year Outlook
Record second quarter sales of $228.1 million, an increase of 18.5% from the prior year period; Comparable sales growth of 13.3% Net loss of $(7.4) million
About this update from Leslie's, Inc.
[{"type":"text","content":"Record second quarter sales of $228.1 million, an increase of 18.5% from the prior year period; Comparable sales growth of 13.3% Net loss of $(7.4) million compared to $(6.5) million in the prior year period; Adjusted net loss of $(2.7) million compared to $(2.8) million in the prior year periodDiluted earnings per share of $(0.04) compared to $(0.03) in the prior period and Adjusted diluted earnings per share remained consistent at $(0.01) compared to the prior year periodAdjusted EBITDA of $8.7 million compared to $9.5 million in the prior year period Raises Fiscal 2022 sales outlook by $85 million, gross profit by $38 million, Adjusted EBITDA by $18 million, and Adjusted earnings per share by $0.06 PHOENIX, May 05, 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 second quarter of Fiscal 2022. Mike Egeck, Chief Executive Officer, commented, \"We are very pleased to report fiscal second quarter results that exceeded our expectations on the top and bottom line despite the comparison against the unprecedented 'Texas Freeze' weather driven spike in Q2 demand last year. The non-discretionary, recurring nature of after-market pool industry demand, our team’s strong execution against our strategic growth initiatives, and an advantaged inventory position were all key drivers of our performance.\" “We enter pool season ready to meet the needs of our customers with our Leslie’s Connect capabilities, AccuBlue water testing solution and strong in-stock positions. We are raising our outlook for Fiscal 2022 to reflect our outperformance in the second quarter as well as an updated view of inflation and the contribution of M&A activity this year,” Mr. Egeck concluded. For the Thirteen-Weeks Ended April 2, 2022 Highlights Sales increased $35.7 million, or 18.5%, to $228.1 million compared to $192.4 million in the prior year period. Comparable sales increased 13.3% in the current year period. Comparable sales increased 35.5% in the prior year period, on a shifted based, which uses a realigned period in 2020 for comparability given the 53rd week in Fiscal 2020.Gross profit increased $13.9 million, or 19.5%, to $85.6 million compared to $71.7 million in the prior...