Leslie's Cuts FY24 Sales Outlook From $1.41B - $1.47B To $1.321B - $1.347B (Est $1.421B), Adjusted EPS Forecast From $0.25 - $0.33 To $0.03 - $0.09 (Est $0.28)
Portfolio Pulse from Benzinga Newsdesk
Leslie's Inc. has revised its FY24 sales outlook downwards from $1.41B-$1.47B to $1.321B-$1.347B, and adjusted EPS forecast from $0.25-$0.33 to $0.03-$0.09. The company expects to end the fiscal year with 20% less inventory and more cash on hand compared to fiscal 2023. CEO Mike Egeck cited cold and wet spring weather, inflation, and high interest rates as factors impacting sales.
July 17, 2024 | 8:13 pm
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Leslie's Inc. has significantly lowered its FY24 sales and EPS forecasts due to adverse weather conditions and economic pressures. The company expects to end the fiscal year with 20% less inventory and more cash on hand.
The significant downward revision in sales and EPS forecasts indicates potential financial struggles due to external factors like weather and economic conditions. This is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100