Leslie's, Inc.

Leslie's, Inc. Earnings Recaps

LESL Consumer Discretionary 3 recaps
Q2 2026 May 15, 2026

Leslie's stock surged 131.8% following Q2 results that notably beat expectations, driven by strong revenue growth, expanding customer base, and margin improvements fueled by an effective Price Drop initiative and ongoing cost optimization.

Key takeaways
  • Revenue grew 4.3% year-over-year, with comparable sales up 6.6% and total customer count rising 8%.
  • Adjusted EBITDA increased 26% year-over-year, reflecting margin expansion alongside cost control efforts.
  • The Price Drop campaign launched in March led to double-digit transaction growth and a >350 basis point conversion rate improvement in retail stores.
  • Reactivated customers grew more than 25%, powered by targeted marketing using zero-party data and integrated in-store signage updates.
  • Field organization restructuring and revised store-level incentives aim to drive sales growth across service, commercial, trade, and retail channels.
Full recap
Q1 2026 Feb 19, 2026

Leslie’s reported a challenging first quarter for fiscal 2026 as it focuses on a comprehensive transformation strategy, reaffirming full-year revenue guidance while implementing significant cost-saving measures.

Key takeaways
  • Full-year guidance maintained at $1.1 billion to $1.25 billion in net sales and adjusted EBITDA of $55 million to $75 million.
  • Customer churn resulted in a net loss of 160,000 residential customers in 2025, prompting a renewed pricing strategy aimed at retaining and re-engaging lapsed customers.
  • The company has closed 80 underperforming locations, expected to yield an annualized EBITDA improvement of $4 million to $10 million despite a revenue impact of $25 million to $35 million.
  • Streamlining distribution channels is projected to save an additional $1 million annually while enhancing order fulfillment efficiencies.
  • A new integrated marketing campaign will leverage data from the Pool Perks loyalty program to target personalized messaging for both existing and lapsed customers.
Full recap
Q4 2025 Dec 3, 2025

Leslie's reported a challenging fourth quarter, marked by a significant decrease in residential customer traffic and a strategic pivot towards price optimization and operational restructuring aimed at regaining market share.

Key takeaways
  • The company experienced an 8.6% decline in residential traffic and lost over 160,000 customers amidst competitive pricing pressures.
  • Immediate actions include closing 80-90 underperforming stores and streamlining manufacturing operations to improve cost structure.
  • Leslie's is enhancing its pricing strategy and leveraging customer data for targeted marketing to improve customer engagement and retention.
  • Conversion rates following water tests increased by 500 basis points YoY, indicating strengthened customer trust in Leslie's expertise.
  • A new market leadership approach will integrate services across different channels to enhance customer relationships and drive growth.
Full recap