LESL · Leslie's, Inc.
Substantial doubt about the company's ability to continue as a going concern.
“These conditions and events raise substantial doubt about the Company's ability to continue as a going concern. ... There can be no assurance of the Company's ability to realize these plans, and as a result, the Company has concluded that management's plans do not alleviate the substantial doubt about the Company's ability to continue as a going concern for at least one year from the date of issuance of these financial statements.”View the 10-Q filed Aug 12, 2026
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Metrics snapshot
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AI Brief
Q3 FY26 earnings call · Aug 12, 2026TL;DR. Leslie's posted an 8.4% Q3 sales decline and a 31.7% drop in adjusted EBITDA on softer consumer demand, and withdrew its previously issued full-year sales and adjusted EBITDA guidance without updating it, while continuing to explore a potential deleveraging transaction with financial stakeholders.
- + Q3 net income rose $26.1 million year-over-year to $47.8 million, helped by a $17.5 million credit card interchange settlement gain.
- + SG&A improved 270 bps to 23.2% of sales on disciplined cost management and lower store operating costs.
- + Inventory fell 15% to $233.4 million, reflecting progress on inventory optimization.
- + Company has $207 million of total liquidity and is actively exploring strategic alternatives, including a deleveraging transaction, to strengthen the balance sheet.
- − Q3 sales fell 8.4% to $458.5 million with comparable sales down 6.2% on lower traffic and softer demand.
- − Q3 adjusted EBITDA dropped to $55.7 million from $81.6 million on volume and gross margin pressure.
- − Gross margin contracted to 36.5% from 39.6% on unfavorable mix and higher distribution costs.
- − Company withdrew its previously issued full-year fiscal 2026 sales and adjusted EBITDA guidance and is not providing an updated outlook.
- − Net long-term debt of $753 million and stockholders' deficit of $492.7 million underscore the balance sheet stress driving the strategic review.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted diluted loss per share non-GAAP | -$8.55 | Fiscal Nine Months Ended July 4, 2026 | — |
| Adjusted EBITDA non-GAAP | -11.4M | Fiscal Nine Months Ended July 4, 2026 | — |
| Adjusted EBITDA as a percentage of sales non-GAAP | 12.1% | Three Months Ended July 4, 2026 filing | — |
| Adjusted net loss non-GAAP | -79.7M | Fiscal Nine Months Ended July 4, 2026 | — |
| Capital expenditures | 10.5M | period ended July 4, 2026 | — |
| Comparable sales non-GAAP | 5.5% | Fiscal Nine Months Ended July 4, 2026 | — |
| Comparable sales growth | -6.2% | Three Months Ended July 4, 2026 filing | — |
| Number of locations open at end of period | 943 | Three Months Ended July 4, 2026 filing | — |
| Number of new and acquired locations, net | -1 | Three Months Ended July 4, 2026 filing | — |
| Total liquidity | 207.1M | as of July 4, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Specialty Retail — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LESL
this stock
Leslie's, Inc.
|
$2.74M | -91.2% | -6.6% | — | 18.8% |
|
WSM
Williams Sonoma Inc
|
$27.31B | +30.1% | +1.2% | 23.8 | 4.9% |
|
ULTA
Ulta Beauty, Inc.
|
$23.31B | -10.1% | +9.7% | 19.9 | 5.7% |
|
CASY
Caseys General Stores Inc
|
$22.17B | +11.8% | +10.2% | 28.9 | 4.1% |
|
BBY
Best Buy Co Inc
|
$18.61B | +31.4% | +0.4% | 14.8 | 7.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LESL | -50.2% | -73.4% | -89.5% | -8.9% | -91.2% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -49.9% | -72.9% | -101.7% | -9.9% | -104.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.