Leslie’s (NASDAQ:LESL) stock is taking a beating on Wednesday after the pool and spa care company released its earnings report for its fiscal fourth quarter of 2023.
The bad news for investors in LESL stock comes from Leslie’s adjusted earnings per share of 14 cents during the quarter. That comes in below the 17 cents per share that Wall Street was expecting. It’s also worse than the 35 cents per share reported in the same period of the year prior.
Building on that negativity is its adjusted EPS of 28 cents for its fiscal full year of 2023. That’s another miss compared to analysts’ estimate of 41 cents per share. Just like before, this is a major drop compared to its adjusted EPS of 95 cents in fiscal 2022.
Mike Egeck, CEO of Leslie’s, said the following in the earnings report.
“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.”
2024 Outlook Slams LESL Stock
Not helping Leslie’s today is its outlook for the fiscal full year of 2024. The company is expecting adjusted EPS for the year to range from 25 cents to 33 cents. That would come in below Wall Street’s estimate of 50 cents per share.
On that same note, the company’s revenue guidance of $1.41 billion to $1.47 billion is on the weak side. This would see it miss analysts’ fiscal 2024 revenue estimate of $1.5 billion.
LESL stock is down 24.2% as of Wednesday morning.
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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.
