Pool products retailer Leslie’s (NASDAQ:LESL) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Leslie's missed analysts' revenue expectations by 6.1% last quarter, reporting revenues of $188.7 million, down 11.4% year on year. It was a weak quarter for the company, with a miss of analysts' gross margin estimates.
Is Leslie's a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Leslie's revenue to decline 6.7% year on year to $570 million, improving from the 9.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.32 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 10 downward revisions over the last 30 days. Leslie's has missed Wall Street's revenue estimates four times over the last two years.
Looking at Leslie's peers in the consumer retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Tractor Supply delivered year-on-year revenue growth of 1.5%, meeting analysts' expectations, and Sprouts reported revenues up 11.9%, topping estimates by 3.2%. Tractor Supply's stock price was unchanged after the resultswhile Sprouts was up 13.2%.
Read our full analysis of Tractor Supply's results here and Sprouts's results here.
Growth stocks have been quite volatile since the start of 2024, and while some of the consumer retail stocks have fared somewhat better, they have not been spared, with share prices down 3.1% on average over the last month. Leslie's is down 11.2% during the same time and is heading into earnings with an average analyst price target of $4 (compared to the current share price of $2.85).
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