Business
Leslie’s, Inc. Announces Strong Results for Fourth Quarter and Fiscal 2020; Record Sales of $1.1 Billion in Fiscal 2020
Fiscal 2020 sales increase of 19.8% to $1,112 million; Comparable sales growth of 18.0%Fiscal 2020 GAAP net income increase to $58.6 million from $0.7 million
About this update from Leslie's, Inc.
[{"type":"text","content":"Fiscal 2020 sales increase of 19.8% to $1,112 million; Comparable sales growth of 18.0%Fiscal 2020 GAAP net income increase to $58.6 million from $0.7 million in Fiscal 2019; Adjusted net income increase to $65.0 million from $12.8 million in Fiscal 2019Fiscal 2020 adjusted EBITDA increase of 14.2% to $182.8 millionFourth quarter Fiscal 2020 comparable sales growth of 23.3% PHOENIX, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Leslie's, Inc. (\"Leslie's\" or “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 full year of Fiscal 2020 ended October 3, 2020. Mike Egeck, Chief Executive Officer, commented “Our fourth quarter performance capped off a record year for Leslie’s. Fiscal 2020 marked our 57th consecutive year of sales growth with sales surpassing $1 billion for the first time in our history. In addition to our topline performance, we also delivered Adjusted EBITDA growth of over 14% for the year as we continued to benefit from the key attributes that differentiate Leslie’s in the advantaged pool industry. The recurring, non-discretionary nature of demand for our products, our unique and expanding capabilities, and well-developed strategies to drive market share gains, all combined to further solidify our position as the largest and most trusted direct-to-consumer brand in the pool and spa industry.” Mr. Egeck added, “Fiscal 2021 is off to a good start and was also marked by an important milestone for Leslie’s as the dedication and contributions of our team members enabled us to complete our initial public offering. We enter this next chapter with energy, excitement and a focus on driving stakeholder value. As we look ahead, we see a continuation of strong after-market industry tailwinds as we execute against our plans to increase our share of the $11 billion pool and spa market.” Fiscal Year 2020 Highlights Sales increased 19.8% to a record $1,112.2 million from $928.2 million in Fiscal 2019. Excluding the impact of the 53rd week in Fiscal 2020, sales increased 17.9%; comparable sales increased 18.0% on a fifty-two week basisFiscal 2020 included a 53rd week, which we estimate added approximately $18.0 million in sales, $3.0 million in Adjusted EBITDA, and $1.5 million in net incomeGross profit increased...