Business
Leslie’s, Inc. Announces Third Quarter Fiscal 2022 Financial Results; Revises Full Year Outlook
Record third quarter sales of $673.6 million, an increase of 12.9% from the prior year period; Comparable sales growth of 7.4%Net income increase of 3.5% from
About this update from Leslie's, Inc.
[{"type":"text","content":"Record third quarter sales of $673.6 million, an increase of 12.9% from the prior year period; Comparable sales growth of 7.4%Net income increase of 3.5% from the prior year period to $123.0 million; Adjusted net income increase of 1.1% from the prior year period to $125.7 millionDiluted earnings per share of $0.67 compared to $0.61 in the prior year period and Adjusted diluted earnings per share of $0.68 compared to $0.64 in the prior year periodAdjusted EBITDA increase of 2.0% from the prior year period to $182.9 millionRevises Fiscal 2022 outlook for sales to increase 15% to 17%, Adjusted EBITDA to increase 6% to 10%, and Adjusted earnings per share to increase 6% to 13% compared to Fiscal 2021 PHOENIX, Aug. 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 third quarter of Fiscal 2022. Mike Egeck, Chief Executive Officer, commented, “We delivered another quarter of record top and bottom line results, despite the adverse impacts of execution issues at our Northeastern distribution center, and to a lesser extent, product margin decreases associated with supply chain challenges and industry promotions. While we have addressed our distribution center issues and operations are now shipping to plan, we have revised our annual outlook to reflect our third quarter performance, as well as expectations for elevated distribution costs and product margin impacts for the remainder of the year. We remain focused on making progress against each of our strategic growth priorities, which continue to fuel our market share gains and better position us to grow profitably amid varying macro conditions.” For the Thirteen-Weeks Ended July 2, 2022 Highlights Sales increased $77.1 million, or 12.9%, to $673.6 million compared to $596.5 million in the prior year period. In the current year period comparable sales increased 7.4%. Comparable sales increased 19.4% in the prior year period, on a shifted basis, which uses a realigned period in 2020 for comparability given the 53rd week in Fiscal 2020.Gross profit increased $19.9 million, or 7.0%, to $303.6 million compared to $283.7 million in the prior year period and gross margin was 45.1% compared to 47.6% in the prior ye...