Leslie's Inc LESL shares are trading lower in Tuesday's after-hours session after the company reported mixed financial results and issued forward guidance below analyst estimates.
- Q4 Revenue: $432.4 million beat estimates of $419.39 million
- Q4 EPS: 14 cents missed estimates of 18 cents
Sales were down 9.1% year-over-year in the fourth quarter and gross profit decreased 26.3%.
Inventories decreased 13.8% to $311.8 million at quarter's end. Leslie's ended the quarter with $55.4 million in cash and equivalents.
"Following three years of unprecedented growth, the pool industry and Leslie's faced multiple transitory headwinds in 2023 that impacted our financial results through the fiscal fourth quarter," said Mike Egeck, CEO of Leslie's.
"Looking forward, the fundamental advantages of the after-market pool-care industry remain intact, as do our competitive advantages. Leslie's remains the largest specialty retailer in the industry with unmatched capabilities and clear long-term growth opportunities, which along with our focus on executing against our strategic initiatives, position us to drive financial performance and create shareholder value as industry conditions normalize."
Guidance: Leslie's sees full-year 2024 revenue in a range of $1.41 billion to $1.47 billion versus estimates of $1.5 billion, according to Benzinga Pro. The company anticipated full-year adjusted earnings of 25 cents to 33 cents per share.
See Also: Intuit Q1 Earnings: EPS Beat, Revenue Up 15%, Data And AI 'Core To Our Strategy'
LESL Price Action: Leslie's shares were down 13.75% after hours at $4.90 at the time of writing, per Benzinga Pro.
Photo: Charles Rondeau from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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