NASDAQ$LESL

Leslie's Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Leslie's reported first quarter fiscal 2022 financial results with record sales and improved net loss.

Leslie's, Inc. announced record first quarter sales of $184.8 million, a 27.5% increase year-over-year. Net loss improved by $15.8 million to $(14.5) million, and diluted earnings per share improved to $(0.08). The company raised its full year outlook for sales, gross profit, Adjusted EBITDA, and Adjusted earnings per share.

  • Record first quarter sales of $184.8 million, an increase of 27.5%; Comparable sales growth of 20.5%
  • Net loss improved by $15.8 million to $(14.5) million; Adjusted net loss of $(10.9) million compared to $(10.6) million in the prior year period
  • Diluted earnings per share improved to $(0.08) compared to $(0.17) in the prior year period. Adjusted diluted earnings per share remained consistent at $(0.06) compared to the prior year period
  • Adjusted EBITDA increased by $1.3 million to $1.1 million compared to $(0.2) million in the prior year period

Headline financials

Total Revenue

$185M

Previous: $145M+27.5%
EPS (adj)

-$0.06

Previous: -$0.06+0.0%
Comparable Sales Growth

20.5%

Previous: 15.7%+30.6%
Gross Margin

36.4%

No prior period
Capital Expenditures

-$5.4M

Previous: -$2.71M-99.6%
Free Cash Flow

-$19.9M

Previous: -$33M+39.8%
Net Income

-$14.5M

Previous: -$30.3M+52.2%
Operating Income

-$12.5M

Previous: -$25.8M+51.6%
Gross Profit

$67.3M

Previous: $51.7M+30.2%
Cash & Equivalents

$53.3M

Previous: $104M-48.7%
Total Assets

$811M

Previous: $747M+8.6%
Stock-Based Comp

$2.75M

Previous: $12.2M-77.4%

Revenue & EPS history

Leslie's · Revenue · Quarterly

$185M

Q1 2022+27.5%vs Q1 2021
Beat estimate in 7 of 12 quarters(58%)
ActualEstimate

Forward guidance

The Company raised its outlook for the full year of Fiscal 2022:

Tailwinds

  • Sales $1,495 to $1,520 million (previously $1,475 to $1,500 million)
  • Gross profit $665 to $675 million (previously $655 to $665 million)
  • Net income $170 to $180 million
  • Adjusted net income $183 to $193 million (previously $180 to $190 million)
  • Adjusted EBITDA $300 to $310 million (previously $295 to $305 million)

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-3.5%

Avg return

Earnings day

-0.0%

Avg return

5 days after

+14.4%

Avg return

30 days after

39%

9 / 23 earnings

Positive

+12.4%

Q4 2020

Best reaction

-26.8%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+12.1%+80.4%+490.2%
Q1 2026-19.4%-22.6%-18.8%
Q4 2025-21.4%-22.9%-51.7%
Q2 2025+5.1%+26.0%+1.1%
Q1 2025-26.8%-25.0%-54.0%
Q4 2024-23.2%-27.9%-31.7%
Q3 2024+4.3%-2.0%-1.7%
Q2 2024+5.7%+8.2%+4.3%
Q1 2024+4.3%+13.6%+16.2%
Q4 2023-8.4%-8.6%+24.5%
Q3 2023+6.4%+7.0%-0.3%
Q2 2023-0.6%+4.5%-2.3%
Q1 2023-7.4%-20.4%-20.7%
Q4 2022-6.0%-12.0%-18.9%
Q3 2022+3.7%+0.8%-9.6%
Q2 2022-3.2%-10.1%-3.5%
Q1 2022-7.6%-6.7%-4.5%
Q4 2021-3.9%-2.1%+1.4%
Q3 2020+10.6%+10.0%+8.2%
Q3 2021-6.7%+3.2%+0.9%
Q2 2021-6.1%-4.6%+2.5%
Q1 2021-4.8%-8.5%-23.6%
Q4 2020+12.4%+19.5%+22.3%
Q2 2020
Q1 2020
Q4 2019

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