Why Leslie's Stock Is Diving After Hours
Portfolio Pulse from Adam Eckert
Leslie's Inc (NASDAQ:LESL) shares dropped nearly 20% in after-hours trading following the release of preliminary Q3 results and the announcement of a CFO transition. The company's Q3 revenue is expected to be $611 million, significantly lower than the estimated $703.74 million. Adjusted earnings are anticipated to be between 39 cents and 41 cents per share, compared to estimates of 69 cents per share. The company also lowered its full-year 2023 revenue outlook. CFO Steve Weddell is stepping down and will be replaced by Scott Bowman.
July 13, 2023 | 8:31 pm
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Leslie's Inc shares dropped significantly due to lower than expected Q3 results and the announcement of a CFO transition. The company also lowered its full-year 2023 revenue outlook.
The company's shares dropped due to lower than expected Q3 results and the announcement of a CFO transition. This indicates a lack of confidence in the company's financial performance and management, which is likely to negatively impact the stock price in the short term.
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