Leslie’s reports Q1 adjusted EPS ($5.24), consensus ($4.24)

Reports Q1 revenue $147.13M, consensus $162.45M. Comparable sales decreased 15.5%. Jason McDonell, CEO, said, “Leslie’s (LESL) transformation journey is gaining momentum as we execute with precision and urgency. Our first quarter results met our expectations, and we’ve made meaningful optimization progress across stores, distribution, SKUs, and costs. While Q1 and Q2 historically represent approximately 25% of annual revenue, to start Q2, we are seeing encouraging momentum with positive comparable store sales in January. This, coupled with the progress we’re making on our transformation initiatives, gives us conviction in delivering our full-year commitments.”