Leslie's, Inc. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Leslie's, Inc. has filed its quarterly report (10-Q) for the period ending December 30, 2023, providing an update on its financial standing and operational details.</b>

AI Summary

Leslie's, Inc. (LESL) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. Leslie's, Inc. filed a 10-Q report for the period ending December 30, 2023. The filing details financial information and operational updates for the company. Key financial elements such as common stock, retained earnings, and additional paid-in capital are referenced. The report includes data related to employee stock options and performance shares. Information regarding credit facilities, including revolving credit and term loans, is present.

Why It Matters

For investors and stakeholders tracking Leslie's, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for Leslie's, Inc., crucial for assessing the company's health and investment potential. The details within the report, including credit facility information and equity components, are essential for understanding the company's capital structure and risk profile.

Risk Assessment

Risk Level: — Leslie's, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting rather than an immediate crisis, but the presence of detailed credit facility information suggests potential leverage concerns that warrant monitoring.

Analyst Insight

Monitor Leslie's, Inc.'s upcoming earnings reports and management commentary for insights into how the company is navigating its current financial structure and market conditions.

Key Numbers

• 2023-12-30 — Period End Date (Conformed Period of Report)
• 2024-02-02 — Filing Date (Filed as of Date)
• 2022-12-31 — Previous Year End Date (Common Stock Member Date)
• 2023-10-01 — Quarter Start Date (Employee Stock Option Member Date)

Key Players & Entities

• Leslie's, Inc. (company) — Filer name
• 0000950170-24-009961 (other) — Accession Number
• 20231230 (date) — Period of Report
• 20240202 (date) — Filed as of date
• 0001821806 (company) — Central Index Key
• 5990 (other) — Standard Industrial Classification
• DE (other) — State of Incorporation
• 602-366-3817 (other) — Business Phone

FAQ

Key Dates

• 2023-12-30: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-02-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition between annual reports.)

Common Stock Member

Represents ownership in a corporation. (Indicates changes or balances related to the company's outstanding shares.)

Retained Earnings Member

The cumulative earnings of a company that have not been distributed to shareholders as dividends. (Reflects the company's profitability and dividend policy over time.)

Revolving Credit Facility

A type of credit facility that allows a company to borrow, repay, and re-borrow funds up to a certain limit. (Shows the company's access to short-term financing and its liquidity management.)

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share LESL The Nasdaq Global Se

Filing Documents

• lesl-20231230.htm (10-Q) — 1316KB
• lesl-ex10_1.htm (EX-10.1) — 56KB
• lesl-ex31_1.htm (EX-31.1) — 16KB
• lesl-ex31_2.htm (EX-31.2) — 17KB
• lesl-ex32_1.htm (EX-32.1) — 9KB
• lesl-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-24-009961.txt (&nbsp;) — 6631KB
• lesl-20231230.xsd (EX-101.SCH) — 1022KB
• lesl-20231230_htm.xml (XML) — 1121KB

Financial Statements

Financial Statements 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Stockholders' Deficit 4 Condensed Consolidated Statements of Cash Flows 5 Notes to the Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

Signatures

Signatures 26 i Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations or financial condition, business strategy, legal proceedings, competitive advantages, market size, growth opportunities, industry expectations, and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would," or the negative of these words or other similar terms or expressions. Our actual results or outcomes could differ materially from those indicated in these forward-looking statements for a variety of reasons, including, among others: our ability to execute on our growth strategies; supply disruptions; our ability to maintain favorable relationships with suppliers and manufacturers; competition from mass merchants and specialty retailers; impacts on our business from the sensitivity of our business to weather conditions, changes in the economy (including rising interest rates, recession fears, and inflationary pressures), geopolitical events or conflicts, and the housing market; disruptions in the operations of our distribution centers; our ability to implement technology initiatives that deliver the anticipated benefits, without disrupting our operations; our ability to attract and retain senior management and other qualified personnel; regulatory changes and development affecting our current and future products including evolving legal st

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

. Financial Statements

Item 1 . Financial Statements . LESLIE'S, INC. CONDENSED Consolida ted Balance Sheets (Amounts in Thousands, Except Share and Per Share Amounts) December 30, 2023 September 30, 2023 December 31, 2022 (Unaudited) (Audited) (Unaudited) Assets Current assets Cash and cash equivalents $ 8,394 $ 55,420 $ 2,691 Accounts and other receivables, net 22,488 29,396 46,375 Inventories 334,031 311,837 429,517 Prepaid expenses and other current assets 27,131 23,633 29,921 Total current assets 392,044 420,286 508,504 Property and equipment, net 92,405 90,285 75,049 Operating lease right-of-use assets 238,296 251,460 233,852 Goodwill and other intangibles, net 217,909 218,855 218,119 Deferred tax assets 15,988 7,598 — Other assets 41,878 45,951 41,258 Total assets $ 998,520 $ 1,034,435 $ 1,076,782 Liabilities and stockholders' deficit Current liabilities Accounts payable $ 63,541 $ 58,556 $ 117,269 Accrued expenses and other current liabilities 69,854 90,598 65,494 Operating lease liabilities 63,078 62,794 63,251 Income taxes payable — 5,782 480 Current portion of long-term debt 8,100 8,100 8,100 Total current liabilities 204,573 225,830 254,594 Deferred tax liabilities — — 676 Operating lease liabilities, noncurrent 179,413 193,222 174,954 Revolving Credit Facility 38,000 — 91,000 Long-term debt, net 771,718 773,276 778,133 Other long-term liabilities 3,464 3,469 3,060 Total liabilities 1,197,168 1,195,797 1,302,417 Commitments and contingencies Stockholders' deficit Common stock, $ 0.001 par value, 1,000,000,000 shares authorized and 184,513,174 , 184,333,670 , and 183,564,172 issued and outstanding as of December 30, 2023, September 30, 2023, and December 31, 2022, respectively. 184 184 184 Additional paid in capital 101,547 99,280 92,

View Full Filing

View this 10-Q filing on SEC EDGAR