Leslie's Inc
NASDAQ:LESL
Leslie's Inc
Leslie's, Inc. engages in the provision of direct-to-consumer pool and spa care services. The company is headquartered in Phoenix, Arizona and currently employs 3,700 full-time employees. The company went IPO on 2020-10-29. The firm is serving residential, professional, and commercial consumers. The firm offers its products under the brand Jacuzzi, Hayward, Natural Chemistry, Dolphin, Zodiac, Nature2, Pentair, Waterway, Leslie’s, Jandy and Pleatco. The company offers direct-to-consumer pool and spa care brand. The firm offers its products under various categories, which include pool chemicals, pool equipment, pool maintenance, lifestyle, covers, pools, spas and parts. The Company’s offered products include sanitizers, water balancers, specialty chemicals, algae control, water testing, automatic pool cleaners, pool filters, pumps, heating and cooling, lighting, pool closing, solar covers, liners, spa chemicals and spa accessories and products. The firm market its products through approximately 959 locations in 38 states and e-commerce websites.
Leslie's, Inc. engages in the provision of direct-to-consumer pool and spa care services. The company is headquartered in Phoenix, Arizona and currently employs 3,700 full-time employees. The company went IPO on 2020-10-29. The firm is serving residential, professional, and commercial consumers. The firm offers its products under the brand Jacuzzi, Hayward, Natural Chemistry, Dolphin, Zodiac, Nature2, Pentair, Waterway, Leslie’s, Jandy and Pleatco. The company offers direct-to-consumer pool and spa care brand. The firm offers its products under various categories, which include pool chemicals, pool equipment, pool maintenance, lifestyle, covers, pools, spas and parts. The Company’s offered products include sanitizers, water balancers, specialty chemicals, algae control, water testing, automatic pool cleaners, pool filters, pumps, heating and cooling, lighting, pool closing, solar covers, liners, spa chemicals and spa accessories and products. The firm market its products through approximately 959 locations in 38 states and e-commerce websites.
Q4 Performance: Leslie's delivered fourth quarter sales and adjusted EBITDA at or above the high end of guidance, despite a 2.2% decline in net sales year-over-year.
Customer Losses: The company lost over 160,000 residential customers in 2025, with residential traffic down 8.6%, largely due to less competitive pricing.
Store & Cost Actions: Leslie's will close 80 to 90 underperforming stores and two distribution centers, aiming for $4–10 million in annual EBITDA improvement and $1 million in annualized cost savings.
Pricing Reset: Management is investing in more competitive pricing on key items, especially chemicals, which is expected to reduce product gross margins by 100–150 basis points in 2026.
Inventory & SKU Rationalization: Inventory dropped by $26 million in 2025 and will be reduced by another $20–40 million in 2026; over 2,000 SKUs are being eliminated for greater efficiency.
2026 Guidance: Sales are expected to be $1.1–1.25 billion and adjusted EBITDA $55–75 million, with free cash flow expected to be positive at the midpoint of guidance.
Strategic Focus: The company is prioritizing cost optimization, targeted marketing, operational efficiency, and strengthening its balance sheet to drive profitable growth.
