Leslie's slumps on lowering annual forecasts

Leslies

13/07/2023 22:09

** Shares of Leslie's  LESL.O  plunge 18.5% to $7.76 after
market
    ** The pool and spa supplies firm cuts annual net sales
outlook to between $1.43 bln and $1.45 bln, from $1.56 bln to
$1.64 bln forecast earlier
    ** Lowers annual adj. diluted earnings per share to between
28 cents and 32 cents, from 78 cents to 86 cents 
    ** Co expects comparable sales to decline 12% in Q3 on
slowdown in residential as well as professional segments
    ** Abnormal weather conditions, increased price sensitivity
among customers impacted results - CEO Mike Egeck 
    ** Co says Scott Bowman will replace Steve Weddell as CFO,
effective Aug. 7
    ** Shares down 22% YTD, as of Thursday's close
    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))