Leslies (NASDAQ:LESL) stock is falling hard on Thursday after the direct-to-consumer pool and spa care company provided preliminary results for its fiscal third quarter of 2024.
This has it expecting adjusted earnings per share of 32 cents to 33 cents alongside revenue of roughly $570 million for the quarter. For comparison, Wall Street is expecting adjusted EPS of 42 cents with revenue of $615.41 million for the period.
Leslies CEO Mike Egeck said this about the latest earnings results:
“The cold and wet spring weather we experienced during the fiscal second quarter extended through May, reducing the number of pool days in non-seasonal markets and delaying the start of pool season in seasonal markets. We also continued to see weakness in large ticket discretionary categories as persistent inflation and high interest rates pressure pool owners’ wallets.”
LESL Stock Falls on 2024 Guidance
This update also saw Leslies revise its guidance for fiscal 2024. It’s now expecting adjusted EPS to range from 3 cents to 9 cents with revenue coming in between $1.321 billion and $1.347 billion. Analysts are expecting adjusted EPS of 28 cents and revenue of $1.42 billion for the year.
LESL stock is down 17.4% as of Thursday morning. The stock was also down 41.4% year-to-date when markets closed yesterday.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news traders need to know about on Thursday! A few examples include what’s happening with shares of Onconetix (NASDAQ:ONCO) and Chuy’s (NASDAQ:CHUY) stock, as well as the biggest pre-market stock movers this morning. All of this info is ready at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
