$LESL
Leslie's, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021042189 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q4 2020 Q2
Revenue $596.5M $381.3M $479.9M
YoY Change 210.0%
Cost Of Revenue $312.8M $214.7M $269.2M
YoY Change 162.15%
Gross Profit $283.7M $166.6M $210.8M
YoY Change 305.57%
Gross Profit Margin 47.56% 43.69% 43.92%
Selling, General & Admin $117.3M $96.30M $99.17M
YoY Change 61.25%
% of Gross Profit 41.33% 57.8% 47.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.305M $8.300M $20.60M
YoY Change -10.04%
% of Gross Profit 2.22% 4.98% 9.77%
Operating Expenses $117.3M $96.30M $99.16M
YoY Change 61.25%
Operating Profit $166.4M $70.30M $111.6M
YoY Change -477.09%
Interest Expense $7.399M -$18.60M -$19.47M
YoY Change -182.97%
% of Operating Profit 4.45% -26.46% -17.45%
Other Income/Expense, Net -$861.0K -$200.0K -$585.0K
YoY Change 45.99%
Pretax Income $158.2M $49.30M $91.55M
YoY Change -219.67%
Income Tax $39.37M $7.200M $19.61M
% Of Pretax Income 24.89% 14.6% 21.42%
Net Earnings $118.8M $42.10M $71.93M
YoY Change -260.77%
Net Earnings / Revenue 19.92% 11.04% 14.99%
Basic Earnings Per Share $0.63 $0.46
Diluted Earnings Per Share $0.61 $225.6K $0.46
COMMON SHARES
Basic Shares Outstanding 188.3M 156.5M
Diluted Shares Outstanding 194.2M 156.5M

Balance Sheet

Concept 2021 Q3 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $309.1M $157.1M $148.9M
YoY Change
Cash & Equivalents $307.4M $157.1M $148.9M
Short-Term Investments
Other Short-Term Assets $9.843M $4.056M $24.60M
YoY Change
Inventory $224.5M $149.0M $181.1M
Prepaid Expenses $18.77M
Receivables $47.85M $31.48M $35.80M
Other Receivables $3.236M $4.590M $0.00
Total Short-Term Assets $608.4M $360.2M $390.4M
YoY Change 48.27%
LONG-TERM ASSETS
Property, Plant & Equipment $66.36M $66.39M $74.70M
YoY Change
Goodwill $98.67M $93.30M $92.82M
YoY Change 0.51%
Intangibles $29.07M $27.89M $28.89M
YoY Change -5.7%
Long-Term Investments
YoY Change
Other Assets $18.24M $14.44M $1.200M
YoY Change
Total Long-Term Assets $387.7M $386.3M $197.6M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $608.4M $360.2M $390.4M
Total Long-Term Assets $387.7M $386.3M $197.6M
Total Assets $996.1M $746.4M $588.0M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $155.5M $92.37M $133.1M
YoY Change
Accrued Expenses $117.9M $101.2M $112.6M
YoY Change 86.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.100M $8.341M $8.341M
YoY Change 0.0%
Total Short-Term Liabilities $352.4M $258.2M $317.7M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $787.7M $1.180B $1.183B
YoY Change -0.48%
Other Long-Term Liabilities $2.729M $5.457M $13.10M
YoY Change -31.24%
Total Long-Term Liabilities $790.5M $1.185B $1.183B
YoY Change -0.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $352.4M $258.2M $317.7M
Total Long-Term Liabilities $790.5M $1.185B $1.183B
Total Liabilities $1.262B $1.573B $1.500B
YoY Change 0.59%
SHAREHOLDERS EQUITY
Retained Earnings -$467.0M -$549.1M
YoY Change -13.37%
Common Stock $201.3M -$277.9M
YoY Change -0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$265.7M -$827.0M -$869.6M
YoY Change
Total Liabilities & Shareholders Equity $996.1M $746.4M $588.0M
YoY Change 14.61%

Cashflow Statement

Concept 2021 Q3 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income $118.8M $42.10M $71.93M
YoY Change -260.77%
Depreciation, Depletion And Amortization $6.305M $8.300M $20.60M
YoY Change -10.04%
Cash From Operating Activities $229.9M $17.50M $85.90M
YoY Change -121.54% 101.64%
INVESTING ACTIVITIES
Capital Expenditures -$8.299M -$5.100M -$15.50M
YoY Change -188.88% -26.19%
Acquisitions
YoY Change
Other Investing Activities -$777.0K $0.00 -$6.200M
YoY Change -35.42%
Cash From Investing Activities -$9.076M -$5.100M -$21.70M
YoY Change -57.21% -29.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.995M -4.100M -6.300M
YoY Change -197.27% -14.86%
NET CHANGE
Cash From Operating Activities 229.9M 17.50M 85.90M
Cash From Investing Activities -9.076M -5.100M -21.70M
Cash From Financing Activities -1.995M -4.100M -6.300M
Net Change In Cash 218.8M 8.300M 57.90M
YoY Change -109.33% 1158.7%
FREE CASH FLOW
Cash From Operating Activities $229.9M $17.50M $85.90M
Capital Expenditures -$8.299M -$5.100M -$15.50M
Free Cash Flow $238.2M $22.60M $101.4M
YoY Change -125.98% 59.43%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Note 1—Business and Operations </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Leslie’s, Inc. (“Leslie’s,” “we,” “our,” “us,” “its,” or the “Company”) is the leading direct-to-consumer pool and spa care brand. We market and sell pool and spa supplies and related products and services, which primarily consist of maintenance items such as chemicals, equipment and parts, cleaning accessories, as well as safety, recreational, and fitness-related products. We currently market our products through<span style="color:#FF0000;"> </span>946<span style="color:#FF0000;"> </span>company-operated locations in 38 states and e-commerce websites. </p>
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us-gaap Use Of Estimates
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<p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To prepare financial statements that conform to GAAP, we make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Our most significant estimates relate to the allowance for doubtful accounts, inventory obsolescence reserves, vendor programs, income taxes, self-insurance, and goodwill impairment evaluations. We continually review our estimates and make adjustments as necessary, but actual results could be significantly different from what we expected when we made these estimates. </p>
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Prior Period Reclassifications</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications of certain immaterial prior period amounts have been made to conform to current period presentation. </p>
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us-gaap Goodwill And Intangible Asset Impairment
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us-gaap Goodwill And Intangible Asset Impairment
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CY2020Q2 us-gaap Long Term Debt Noncurrent
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CY2021Q3 us-gaap Long Term Debt
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CY2021Q3 us-gaap Operating Lease Liability
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CY2021Q3 us-gaap Purchase Obligation
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us-gaap Net Income Loss
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lesl Dilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q3 lesl Dilutive Shares Restricted Stock Units
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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0.10
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0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0

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