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Leslie's (LESL)
NASDAQ:LESL
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-4.54Last Year’s EPS
-5Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Negative
The call presented a mixed but cautionary picture: management demonstrated clear, concrete progress on a multi-pronged transformation (rapid store closures, SKU rationalization, DC optimization, expense reductions, national pricing campaign, loyalty activation and delivery rollouts) and reaffirmed full-year guidance and planned EBITDA improvements. However, Q1 financials were materially weak—net sales down 16%, comps down 15.5%, gross margin compressed sharply (27.2% to 18.4%), a larger net loss ($83M) and worsening adjusted EBITDA—driven by seasonality, prior-year one-offs, customer churn and noncash impairment charges. Management expects near-term margin pressure from pricing and inventory actions but projects multi-sourced cost savings to partially offset and deliver modest net EBITDA benefit in fiscal 2026. Overall, the operational progress is notable, but near-term financial performance remains challenged.Company Guidance
Reaffirmed Full-Year Guidance
Company reaffirmed fiscal 2026 guidance: net sales $1.1B to $1.25B and adjusted EBITDA $55M to $75M.
Quick Execution of Store Optimization
Closed 80 underperforming locations (≈80% closures completed in <7 days), expected to generate annualized net EBITDA improvement of $4M to $10M once fully completed and reduce cost run-rate quickly.
SKU Rationalization and DC Optimization
Eliminated >2,000 SKUs entering 2026 pool season to focus assortment; expected incremental EBITDA savings of $4M to $5M. Transitioning to a 5-DC network with expected Illinois DC closure saving $0.5M to $1M annually; prior Denver DC closure saved ≈$0.5M.
Cost Savings and Expense Reduction Initiatives
Comprehensive expense program targeting renegotiations and non-core asset reviews expected to produce $7M to $12M of annualized savings (benefits starting H2 2026). Company expects combined initiatives to deliver a net EBITDA benefit of roughly $5M to $10M in fiscal 2026.
Early Seasonal Momentum and Pricing Tests
Positive comparable store sales in January; off-season price testing showed lift in units-per-transaction (UPT) and conversion improvement in pilot markets. Management moving to national 'new low prices, same great quality' EDLP-style campaign informed by tests.
Inventory and Working Capital Improvement
Inventory reduced to $210M at quarter end from $271M a year ago, a 23% YoY decline, driven by inventory optimization and store closures, improving inventory productivity and seasonal relevance.
Improved Operating Discipline and Organizational Changes
Restructured field organization to market leadership/ZIP-code ownership, invested in associate training and data-driven targeted marketing (Pool Perks loyalty captured >85% of transactions) to drive basket growth and customer reengagement.
Liquidity and Capital Position
Quarter-end liquidity: ~$128M availability (cash on hand + undrawn revolver). Outstanding LOC borrowings down to $25M from $40M prior-year quarter; CapEx low at $4.3M in Q1.
Omnichannel & Delivery Enhancements
Uber same-day delivery rolled out in Arizona and California with national rollout planned ahead of pool season; e-commerce fulfillment to be localized via DC optimization and BOPIS capabilities.
LESL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LESL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 17, 2026 | $1.20 | $1.00 | -17.00% |
Dec 02, 2025 | $3.58 | $2.83 | -20.95% |
Aug 06, 2025 | $7.28 | $5.98 | -17.82% |
May 08, 2025 | $14.00 | $14.65 | +4.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Leslie's (LESL) report earnings?
Leslie's (LESL) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is Leslie's (LESL) earnings time?
Leslie's (LESL) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LESL EPS forecast?
LESL EPS forecast for the fiscal quarter 2026 (Q2) is -4.54.