These Analysts Slash Their Forecasts On Leslie's Following Preliminary Results
Portfolio Pulse from Avi Kapoor
Leslie's, Inc. (NASDAQ: LESL) issued preliminary third-quarter financial results below estimates and cut its FY24 guidance. The company expects Q3 revenue of $570 million versus estimates of $615.407 million and adjusted earnings of 32-33 cents per share versus estimates of 42 cents. Full-year 2024 revenue guidance was cut to $1.321-$1.347 billion, and adjusted earnings forecast was slashed to 3-9 cents per share. Analysts have lowered their price targets for Leslie's following the announcement.
July 18, 2024 | 12:54 pm
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Leslie's, Inc. issued preliminary Q3 results below estimates and cut its FY24 guidance. The company expects Q3 revenue of $570 million versus estimates of $615.407 million and adjusted earnings of 32-33 cents per share versus estimates of 42 cents. Full-year 2024 revenue guidance was cut to $1.321-$1.347 billion, and adjusted earnings forecast was slashed to 3-9 cents per share. Analysts have lowered their price targets for Leslie's following the announcement.
The preliminary Q3 results and FY24 guidance cut indicate weaker-than-expected performance, which is likely to negatively impact investor sentiment. The reduction in revenue and earnings forecasts, along with analysts lowering their price targets, suggests a bearish outlook for the stock in the short term.
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