Leslie's Q3 preliminary sales $611M, -12% comp; cuts FY outlook; CFO Weddell to step down, Bowman named

Leslie's, Inc.

2023-Q3 EPS reported $0.06 revenue$1,018,839,000

Preliminary Q3 net sales $611M, -12% comp; gross margin ~41% ($249-251M).
Adjusted EBITDA Q3 expected $124-128M; full-year Adjusted EBITDA revised to $170-180M.
FY2023 outlook cut: net sales $1.43-1.45B, Adj. EPS $0.28-$0.32.
CEO cites low-double-digit traffic declines, price sensitivity, and residual chemicals from prior year.
CFO Steve Weddell stepping down Aug 7; Scott Bowman appointed CFO (ex-CFO of Dave & Buster's, Hibbett).

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Scott Bowman

Chief Financial Officer and Treasurer

LESL · Leslie's, Inc.

Effective: 2023-08-07
Filed: July 13, 2023, 7:59 PM ET

The Board of Directors of the Company appointed Scott Bowman, age 56, as the Company’s Chief Financial Officer and Treasurer to succeed Mr. Weddell, effective August 7, 2023.

Departed

Steve Weddell

Chief Financial Officer

LESL · Leslie's, Inc.

Effective: 2023-08-07
Successor: Scott Bowman
Filed: July 13, 2023, 7:59 PM ET

Steve Weddell will be stepping down from his position as Chief Financial Officer of the Company effective August 7, 2023

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Leslie's, Inc. reported full year fiscal 2023 results: revenue $1,430 to $1,450 million, net income $33 to $40 million, EPS $0.28 to $0.32. Guidance lowered.

Period: full year fiscal 2023
Revenue: $1,430 to $1,450 million
Net income: $33 to $40 million
EPS: $0.28 to $0.32
Guidance: lowered
Result: guidance update

Exact text from the filing

Net sales are now expected to be $1,430 to $1,450 million, gross profit is expected to be $549 to $559 million, net income is expected to be $33 to $40 million, Adjusted EBITDA is expected to be $170 to $180 million, Adjusted net income is expected to be $52 to $59 million, and Adjusted diluted earnings per share are expected to be $0.28 to $0.32.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Leslie's, Inc. reported third quarter ended July 1, 2023 results: revenue $611 million, net income $70 to $73 million, EPS $0.39 to $0.41. Guidance lowered.

Period: third quarter ended July 1, 2023
Revenue: $611 million
Net income: $70 to $73 million
EPS: $0.39 to $0.41
Guidance: lowered
Result: preliminary results

Exact text from the filing

The Company expects preliminary sales for the third quarter of $611 million including a comparable sales decline of (12)%. Gross profit is expected to be $249 to $251 million and gross margin is expected to be approximately 41%. Net income is expected to be $70 to $73 million, Adjusted EBITDA is expected to be $124 to $128 million, Adjusted net income is expected to be $73 to $76 million, and Adjusted diluted earnings per share are expected to be $0.39 to $0.41.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott Bowman was appointed as Chief Financial Officer and Treasurer at Leslie's, Inc..

Action: appointed
Role: Chief Financial Officer and Treasurer

Exact text from the filing

The Board of Directors of the Company appointed Scott Bowman, age 56, as the Company’s Chief Financial Officer and Treasurer to succeed Mr. Weddell, effective August 7, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Weddell departed as Chief Financial Officer at Leslie's, Inc..

Action: stepping down
Role: Chief Financial Officer

Exact text from the filing

Steve Weddell will be stepping down from his position as Chief Financial Officer of the Company effective August 7, 2023

View on SEC.gov

18 earnings releases filed in the last 30 days. Browse all earnings releases →

Leslie's, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-032848

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.