Leslie's Inc · Q4 2022 earnings

Briefing

Reported record results driven by sales growth and strategic initiatives execution.

Leslie's, Inc. announced strong Q4 and Fiscal Year 2022 results, with a 16.3% increase in sales for both the quarter and the year. Net income for the fourth quarter increased by 30.1%, and Adjusted EBITDA increased by 21.3%. The company anticipates a challenging macroeconomic environment for Fiscal Year 2023 but remains focused on long-term objectives.

• Fourth quarter and Fiscal 2022 sales increased 16.3%.
• Comparable sales growth of 10.2% in the fourth quarter and 10.6% in Fiscal 2022.
• Diluted earnings per share increased 34.8% to $0.31 in the fourth quarter and increased 26.9% to $0.85 in Fiscal 2022; Adjusted diluted earnings per share increased 34.6% to $0.35 in the fourth quarter and increased 11.8% to $0.95 in Fiscal 2022.
• Fourth quarter Adjusted EBITDA increased 21.3% to $99.5 million; Fiscal 2022 Adjusted EBITDA increased 8.0% to $292.3 million

Headline financials

Revenue & EPS history

The Company expects the following for Fiscal 2023: Sales $1,560 to $1,640 million Gross profit $667 to $708 million Net income $131 to $146 million Adjusted net income $145 to $160 million Adjusted EBITDA $280 to $310 million Adjusted diluted earnings per share $0.78 to $0.86 Diluted weighted average shares outstanding 185 to 187 million