Leslie’s Inc LESL reported its fourth-quarter results after Monday’s closing bell. Here’s a look at the details from the report. 

The Details: Leslie’s reported quarterly earnings of two cents per share which missed the analyst consensus estimate of 11 cents. Quarterly revenue came in at $397.9 million which missed the analyst consensus estimate of $405.19 million and is a decrease from sales of $432.37 million from the same period last year.

For the fiscal year 2024:

• Comparable sales decreased 8.8%. Non-comparable sales including acquisitions and new stores contributed $7.9 million for the year.
• Gross profit decreased 13% to $476.8 million compared to $548.2 million in the prior year.
• Gross margin decreased to 35.8% from 37.8% in the prior year period.
• Operating income was $57.1 million compared to $102.2 million in the prior year.

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“Our fourth quarter results were in line with our revised expectations on the top-line, and we saw strong performance in our Pro segment with some continued softness in store traffic and larger-ticket and discretionary categories. Profitability was affected by deleverage from the sales decline and a one-time contract item, though we have remained disciplined on SG&A expenses,” said Jason McDonell, CEO of Leslie’s.

Outlook: Leslie’s expects first-quarter sales of between $169 million and $176 million and gross profit of $45 million to $48 million.

LESL Price Action: According to Benzinga Pro, Leslie’s shares are down 18.80% after-hours at $2.85 after gaining 10% during Monday’s regular trading session.

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Photo: Oleg Gamulinskii from Pixabay