Leslie's, Inc. (LESL)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD

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Visitors trend2W10W9M

16.25

-0.17

(-1.07%)

As of 01:45PM EDT. Market open.

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P
Q3 ER is scheduled for release before market open tomorrow (Fri, Aug 5) with conference call at 9:00 am ET. Consensus EPS is $0.74 and revenues of $701.76M, but I expect they'll comfortably beat both measures!
K
Seriously who is selling under 15? I sincerely appreciate the shares but what are you thinking??????
M
https://tradeideas.tips/TestDrive
j
I will get back in around $11. I am bullish but sediment is ugly. Going into fall/winter. Possible recession, doesn't matter how mild. Should see a leg down into March and that's when I'll get back in. I see a PT of 11.99 coming in Oct.
P
Upcoming ERs for Q3 & Q4 (Apr thru Sep) are Leslie's highest seasonal sales periods. I expect stock price to start heading into the mid-20s for several reasons:
1) >14M pools & spas in the US, record # of new pool builds in '20 & '21, > $11B annual industry spend
2) pools require ongoing purchases for chemicals/equip/parts/accessories, can't neglect maintenance as it will result in equipment failure, structural damage, etc
3) LESL is largest direct-to-consumer brand in US pool industry
4) LESL has almost 1,000 stores, an integrated digital platform, and also sells through Amazon, Walmart and eBay
5) majority of their sales are derived from proprietary brands which provides a significant competitive advantage
These factors will generate incredible cash flow annuity streams into the future.
K
lol....SP down 11% after that ER?!?!?! What a joke. This thing will explode up!!
Bullish
J
I remember when this stock was hyped up during the Texas cold snap last year and everyone saying that they would get so much maintance work and then pulled back and Josh Browm hyped it on CNBC again before he sold out at loss
R
LESL is on sale! Will go back to $20 after next earnings release. Chlorine prices have peaked and will go lower into 2023 allowing for LESL margin expansion. I am buying as much as possible under $16. Other great buy is VSTO with about a 5 P/E ratio and great earnings and buy backs.
Bullish
b
Guess people quit swimming
a
What is wrong with this market lol. Josh Brown says Leslie's and it goes up 3%. You people need jobs
A
i'm with Josh on this one. You don't do TWO offerings just to cash out owners with 0 dollars going to the corporation. Classic case of self serving by the owners squeezing the little shareholders such as myself! BAD DECISION.
s
Gonna be a good day tomorrow
P
Great results!
- Fiscal 2021 sales growth of 20.7% to $1,342.9 million; Comparable sales growth of 21.5%
- Fiscal 2021 diluted earnings per share increase of 78.1% to $0.67. Adjusted diluted earnings per share increase of 104.7% to $0.85
- Fiscal 2021 net income increase of 116.0% to $126.6 million
- Fiscal 2021 Adjusted EBITDA increase of 48.0% to $270.6 million
- Fiscal 2022 guidance for sales increase of 10% to 12%, Adjusted diluted earnings per share increase of 11% to 18% and Adjusted EBITDA increase of 9% to 13%

Plus $300 million Share Repurchase Authorization
Bullish
J
any guesses on earnings this afternoon?
Bullish
O
Josh Brown doesn't say a word on CNBC this afternoon! Although, he still showed he was holding the position. If ever we needed a kind word it was today!
T
Anyone think this will drop in the next few days?
G
It’s already traded over it’s 10 day average volume in the first half hour.
I believe it’ll begin to ratchet higher.
As it obviously should.
s
To give everyone a sense of what's going on (as I understand it)... When Leslie's had that secondary offering in mid-September which knocked the stock price down hard, it sold around 13 million shares on behalf of a key group of investors (and specifically placed those shares, at a defined price). If you go to Leslie's Investor Relations and look up the S1 form for 9/13/21 you can see a chart in there of the shareholders in question, how many shares they were selling, and how many shares they retained.

Now compare that table to the one in today's S-3ASR form. What you'll find is essentially the same list of shareholders, and basically all the retained shares that were listed in the 9/13 form are now shown as being unlocked (available to sell). The total amount of shares which can be sold now adds up to roughly 56.5 million shares, over 4x the amount of shares sold in connection to the mid-Sep secondary.

It doesn't mean these shareholders WILL sell the shares in the near future, they may sell all, some, or none. But it does mean there's an overhang on the stock and you're now trusting these shareholders ("Entities Affiliated with L Catterton", and "Explorer Investment Pte. Ltd.", mainly) not to dump shares and drive the price down in the future.

The timing is unfortunate (again!) as the stock price has been notably rising lately. I suppose it wouldn't be unfair for someone to consider if some of the buying was to drive up the price leading up to today's unlock. Who knows.
P
Very good ER! Q1 sales increased +27.5% over last year period and Adj Diluted EPS of ($0.06) was unchanged. Main takeaways are that FY22 guidance raises sales by $20 million, gross profit by $10 million and Adj EPS by $0.03, and $148 million remains under the share repurchase program.
Bullish
A
If the stock is undervalued why would they do a secondary offering? Is stifel the underwriter?