The following is a summary of the Leslie's, Inc. (LESL) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Leslie's reported a Q4 revenue of $398 million, down 8% and fiscal year 2024 sales of $1.33 billion, also decreasing by 8% compared to the previous year.

• Adjusted EBITDA was $43 million for Q4 and $109 million for the full fiscal year.

• Adjusted earnings per share were $0.02 for Q4 and a loss of $0.01 for the full year.

• The company plans to pay down approximately $25 million of debt in the current quarter as part of its capital allocation priority to reduce debt.

Business Progress:

• Jason McDonell, the new CEO, highlighted a strategic focus on customer centricity, convenience, and asset utilization to drive long-term profitable growth.

• Leslie's aims to enhance customer experience through personalized solutions, leveraging a vast pool of customer data and insights.

• The company will focus on optimizing inventory and improving asset utilization, with plans to add approximately three new stores in fiscal 2025.

Opportunities:

• Leslie's plans to leverage its national scale and local community presence more effectively, aiming to improve service and drive customer satisfaction and loyalty.

• Strategic improvement in inventory management and customer-centric initiatives are expected to enhance operational efficiency and asset utilization.

Risks:

• The company faces ongoing challenges with traffic and larger ticket discretionary product sales, impacting overall revenue and profitability.

• Economic pressures and competitive market dynamics continue to pose risks to growth and operational stability.

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