Stock down 16% after disappointing earnings report
- Leslie’s shares tumble 16% on 4Q miss and lackluster FY24 outlook
- Profit sank in the fiscal fourth quarter
- Forecast of roughly flat sales for the next year
- Stock down 16% in after-hours trading
- Quarterly sales continue to decline
- Adjusted earnings missed estimates
- Leslie’s forecasts flat sales for fiscal 2024
- Profit expected to rise, but below analyst expectations
Shares of Leslie’s fell 16% after the company reported a decline in profit for the fiscal fourth quarter and provided a lackluster outlook for fiscal year 2024. The stock dropped to $4.89 in after-hours trading, following a 1.9% rise at Tuesday’s close. Leslie’s has experienced a 52% decline in shares this year. The pool-supplies seller also posted another quarter of sliding sales, resulting in a more than two-thirds drop in profit. Adjusted earnings fell short of analysts’ estimates. For fiscal 2024, Leslie’s expects revenue to remain roughly flat compared to the previous year, with analysts expecting higher sales. Although the company anticipates an increase in profit for the upcoming fiscal year, the guidance provided was below analyst expectations.
Factuality Level: 7
Factuality Justification: The article provides specific information about Leslie’s profit sinking in the fiscal fourth quarter, the company’s forecast for flat sales in the next year, and the stock’s decline. It also mentions the sliding sales and drop in profit for the company. The article includes information about Leslie’s adjusted earnings missing estimates and the company’s revenue forecast for fiscal 2024. It also mentions that the company’s profit is expected to rise compared to the previous fiscal year, but the guidance was below analysts’ expectations. Overall, the article provides factual information about Leslie’s financial performance and forecasts, but it does not provide any additional context or analysis.
Noise Level: 3
Noise Justification: The article provides relevant information about Leslie’s falling profits and flat sales forecast for the next year. It includes details about the stock performance and the company’s financial results. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article also does not explore the consequences of these developments on stakeholders or hold powerful people accountable. Overall, it contains some noise and lacks depth.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Leslie’s
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the financial performance and forecast of Leslie’s, a pool-supplies seller. However, there is no mention of any extreme event or its impact.
Public Companies: Leslie’s (N/A)
Key People:
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