Leslie's (LESL)
NASDAQ:LESL
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Earnings Data
Report Date
Aug 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
5.06Last Year’s EPS
4Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized solid operational and commercial progress: revenue and comparable sales growth, strong customer reactivation, meaningful gross margin expansion, inventory reductions, and a $9.2M improvement in adjusted EBITDA. Management outlined concrete cost-savings levers (store optimization, SKU rationalization, expense reductions) and reiterated full-year guidance while rolling out the Price Drop initiative and convenience capabilities (BOPIS, Uber). However, significant headwinds remain—GAAP and adjusted net losses are still material, adjusted EBITDA remains negative, store closures create a near-term sales drag, there is an upcoming one-time margin impact from inventory optimization, and leverage is high at $753M. On balance, the progress and momentum in customer metrics, margin expansion, and operational initiatives outweigh the outstanding challenges, but the company is not yet profitable and execution risk into the peak season and back half of the year is meaningful.Company Guidance
Revenue Growth
Net sales increased 4.3% year-over-year to $184.7 million in Q2 (from $177.1 million), driven by strong retail performance, especially residential and PRO in March and the Western U.S.
Comparable Sales and Customer Growth
Comparable total company sales (excludes closed stores) rose 6.6% year-over-year. Total registered customer count grew 8%, with reactivated customers increasing by greater than 25%.
Adjusted EBITDA Improvement
Adjusted EBITDA improved by $9.2 million (a 26% improvement) to negative $26.8 million versus negative $36.1 million in Q2 2025, driven by higher sales volumes, improved pricing and lower distribution and occupancy costs.
Gross Margin Expansion
Gross profit margin expanded to 28.9% in Q2 from 24.8% a year ago (approximately a 410 basis point improvement), aided by higher volumes, favorable distribution/occupancy cost leverage and reductions in inventory reserves.
Successful Price Drop Initiative and Transaction Metrics
Price Drop launch in March drove double-digit increases in store transactions, a >350 basis point improvement in overall conversion rate, double-digit growth in proprietary 10-point water tests, and positive customer feedback.
Inventory and SKU Optimization
Inventory was reduced by ~22% year-over-year to $262.4 million (from $335.1 million) in Q2. Removal of ~2,000 long-tail SKUs from e-commerce is expected to drive approximately $4 million to $5 million in annualized EBITDA improvement.
Operational Improvements & Convenience Investments
Completed nationwide Uber same-day delivery rollout and saw strong BOPIS adoption. Field organization restructuring, new store compensation plan, and localized in-person training rolled out to improve local execution and customer engagement.
PRO Business Growth
Commercial/PRO segment grew approximately 5% in Q2 following simplified trade program pricing and streamlined enrollment, improving PRO customer experience and product availability.
Cost-Savings and Guidance on Benefit Realization
Company expects annualized benefits from store optimization of $4M–$10M (despite $25M–$35M annual sales impact from 80 closed stores), expense reduction initiatives of $7M–$12M (benefits starting H2 2026), and reiterated 2026 guidance of $1.1B–$1.25B in sales and $55M–$75M adjusted EBITDA.
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 |
|---|---|---|---|
May 13, 2026 | $1.43 | $3.50 | +144.76% |
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% |
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 Aug 05, 2026, Before Open (Confirmed).
What is Leslie's (LESL) earnings time?
Leslie's (LESL) earnings time is at Aug 05, 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 (Q3) is 5.06.