LESLQ · Leslie's, Inc.
Going-concern doubt
— flagged Aug 12, 2026
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
Market Cap
$234,136
Shares
9.37M
Volume
—
Avg daily vol (3M)
—
No Price Data
No daily price data is available for this stock yet. Data syncs automatically.
Up next
Next earnings call
Nov 8, 2026
Est · unconfirmed
· in 4 wks
filed Aug 12, 2026
call held May 13, 2026
AI Brief
Q3 FY26 earnings call · Aug 12, 2026
Q3 FY26
TL;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.
Bullish
- + 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.
Bearish
- − 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.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Limited
Momentum
Limited
Sentiment
Bullish
Fundamentals
Weak
Quant / Vol
Limited
Market backdrop
VIX 14.8 · calm
Equity put/call 0.56
Technical
price trend
Not enough data for a confident read.
Momentum
relative strength
Not enough data for a confident read.
Sentiment
smart money
Trend (MA cross)
No cross
50/200-day averages unavailable
Institutional flow
Accumulating
+7% holders QoQ · +14 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Flat
No short-interest data
Volume signal
Normal
Volume near normal
Institution breadth
Steady
47 holders — mid 3-yr range
Fundamentals
Revenue growth
−7%
Y/Y
Gross margin
35%
contracting
EPS growth
−911%
Y/Y
Free cash flow
$-16.7M
Buyback
$147.7M
remaining
Balance sheet
$687.7M
net debt
Quant / Vol
risk profile
Not enough data for a confident read.
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed May 13, 2026
Sales
· full year fiscal 2026
Initiated
$1.1B – $1.25B
prior FY $1.24B
midpoint −5.4% Y/Y
Guided vs delivered
· last 4 settled
Sales
full year of fiscal 2024
guided $1.32B – $1.35B
$1.33B
In line
Sales
full year of Fiscal 2023
guided $1.43B – $1.45B
$1.45B
Beat +0.8%
Sales
full year of Fiscal 2022
guided $1.55B – $1.57B
$1.56B
In line
Sales
full year fiscal 2021
guided $1.25B – $1.27B
$1.34B
Beat +6.6%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
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 |
|---|---|---|---|---|---|
|
LESLQ
this stock
Leslie's, Inc.
|
$234,136 | — | -6.6% | — | 18.8% |
|
WSM
Williams Sonoma Inc
|
$28.48B | +35.4% | +1.2% | 24.8 | 4.6% |
|
ULTA
Ulta Beauty, Inc.
|
$24.39B | -5.7% | +9.7% | 20.8 | 5.7% |
|
CASY
Caseys General Stores Inc
|
$23.89B | +16.9% | +10.2% | 31.1 | 4.6% |
|
BBY
Best Buy Co Inc
|
$18.25B | +30.0% | +0.4% | 14.5 | 7.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events