Leslie's, Inc. Q1 2026 Earnings Recap

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.