Every 10-Q that Leslie's, Inc. (LESL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LESL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LESL filings page.
Leslie’s, Inc. reported lower sales and margins but a strong quarterly profit alongside serious financial strain. For the three months ended July 4, 2026, sales were $458.5 million versus $500.3 million a year earlier and gross margin fell to 36.5% from 39.6%.
Net income for the quarter rose to $47.8 million from $21.7 million, boosted by a $17.5 million gain from a credit card interchange fee settlement and lower SG&A, while the nine‑month period showed a net loss of $87.7 million. Adjusted EBITDA for the nine months was $(11.4) million compared with $16.2 million in the prior year.
The balance sheet remains highly leveraged, with total long‑term debt of $786.7 million, stockholders’ deficit of $492.7 million, and cash of $45.9 million. Management states that these conditions, plus reliance on seasonal cash flows and upcoming debt obligations, raise substantial doubt about the company’s ability to continue as a going concern, and plans to pursue cost optimization, strategic initiatives, and potential balance‑sheet transactions, including addressing the Term Loan maturing March 9, 2028.
Leslie’s, Inc. reported a weak first quarter as sales and margins fell sharply and store closures weighed on results. Sales declined to $147.1 million from $175.2 million, with comparable sales down 15.5%. Gross margin compressed to 18.4% from 27.2%, hurt by a $6.4 million inventory impairment tied to a strategic plan to close 80 underperforming stores and one distribution center and by lower margins on core chemicals.
The company recorded total charges of about $18.5 million related to the closures, contributing to an operating loss of $68.7 million and a net loss of $83.0 million, versus a $44.6 million loss a year earlier. Adjusted EBITDA was a loss of $40.3 million. Cash used in operating activities improved but remained heavy at $81.1 million. Cash and cash equivalents fell to $3.6 million, while total debt stood at $781.7 million, including a Term Loan due 2028 and $25.0 million drawn on the Revolving Credit Facility, with $128.3 million of remaining availability.
The quarter also reflected the earlier 1-for-20 reverse stock split and prior goodwill impairment, leaving no goodwill on the balance sheet. Management disclosed that previously identified material weaknesses in internal control over financial reporting remain unremediated, so disclosure controls and procedures were not effective. During the quarter, the company received a credit rating downgrade from S&P Global Ratings to CCC from CCC+ and continues to face pending securities class action and derivative litigation, which it plans to defend while maintaining that reserves for routine claims are not significant.