Leslie's(NASDAQ) LESL

Leslie's helps pool and spa owners keep water clean and safe. Its products solve everyday maintenance needs for homes, hotels, and public pools. Customers use Leslie's chemicals and equipment to prevent algae, balance water, and fix pool issues.

Products and Services

• Pool Chemicals: Chlorine, sanitizers, and water balancers for safe, clear water (more than 80% of assortment is non-discretionary products essential to pool and spa care).
• Pool Equipment: Pumps, filters, heaters, and cleaners for pool operation and repairs.
• Maintenance Supplies: Hoses, cartridges, and cleaning tools for regular upkeep.
• Pool Covers and Safety: Winter, solar, and safety covers to protect pools and users.
• Installation and Repair Services: In-store and on-site equipment installation and repair for residential and commercial clients.

Growth and Expansion

• Acquired five companies in 2023, adding 12 new locations for $15.5 million.
• Expanded AccuBlue Home at-home water testing subscription in 2024.
• Invested in digital platforms and loyalty programs throughout 2023 and 2024.
• Identified over 800 potential new store locations for future growth.

What Makes Leslie's Stand Out

Leslie's operates the largest direct-to-consumer pool and spa care network in the U.S. Its integrated model combines physical stores, e-commerce, and a national service network. Proprietary brands and data-driven water testing support customer retention and recurring sales.

Five Things You Need to Know

• Net sales were $1.33 billion in fiscal 2024, down 8.3% from 2023.
• Gross profit margin fell to 35.8% in 2024, from 37.8% in 2023.
• Operating income dropped to $57.1 million in 2024, down 44.1% year-over-year.
• Net loss was $23.4 million in 2024, compared to $27.2 million net income in 2023.

Bottom Line

Leslie's has evolved from a regional retailer to a national pool care provider. Its focus on recurring products, proprietary brands, and digital tools shapes its position in a fragmented market.