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Leslie's (LESL) earnings and revenue breakdown
Latest: Q3 FY26 · 10-Q filed Aug 12, 2026 · Leslie's (LESL) Q3 FY26 earnings results →
Q3 FY26 Revenue down 8% year over year to $458M · 10¢ of every $1 of revenue kept as net profit · operating margin 13.4%
Leslie's made $458M in Q3 FY26 (-8% Y/Y). Operating margin 13.4%, net earnings $47.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $458.5M in Q3 FY26, down 8% year over year and up 148% from the previous quarter.
Gross margin was 36.5%, down 3.1 points from Q3 FY25. Operating profit was $61.5M, a 13.4% margin (down 0.2 points year over year). Operating expenses fell 18% while revenue fell 8%. Net earnings were $47.8M, up 120% year over year. The effective tax rate was -1.0%.
Operating cash flow was $99.0M (down 14% year over year), 207% of net earnings. Non-cash charges added back $7.6M of depreciation and amortization and $796K of share-based compensation. Working capital and other items added $42.8M. Capital expenditures of $1.0M left free cash flow of $97.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 FY26 | 10-Q | Aug 12, 2026 | $458M | -8% | 13.4% | $47.8M | $99.0M |
| Q2 FY26 | 10-Q | May 13, 2026 | $185M | +4% | -20.4% | −$52.5M | −$55.4M |
| Q1 FY26 | 10-Q | Feb 18, 2026 | $147M | -16% | -46.7% | −$83.0M | −$81.1M |
| Q4 FY25 | 10-K | Dec 18, 2025 | $389M | -2% | -38.6% | −$163M | $48.2M |
| Q3 FY25 | 10-Q | Aug 7, 2025 | $500M | -12% | 13.7% | $21.7M | $115M |
| Q2 FY25 | 10-Q | May 8, 2025 | $177M | -6% | -27.3% | −$51.3M | −$49.2M |
| Q4 FY24 | 10-K | Nov 27, 2024 | $398M | -8% | 6.6% | −$9.9M | $47.1M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Leslie's
Founded in 1963, Leslie’s is the largest and most trusted direct-to-customer brand in the U.S. pool and spa care industry serving residential consumers and pool professionals nationwide. The company serves the aftermarket needs of residential and professional consumers with an extensive and largely exclusive assortment of essential pool and spa care products. The company operates an integrated ecosystem of over 900 physical locations and a robust digital platform, enabling consumers to engage with Leslie’s whenever, wherever, and however they prefer to shop. Its dedicated team of associates, pool and spa care experts, and experienced service technicians are passionate about empowering every single Leslie’s customer with the knowledge, products, and solutions necessary to confidently maintain and thoroughly enjoy their pools and spas.
In its own words, from its 8-K, filed Aug 12, 2026.
Leslie's against its Retail-Retail Stores, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median 0%. Operating margin: 13.4% against the peers' median 3.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LESL Leslie's | Q3 FY26 | $458M | -8% | 13.4% |
| ULTA Ulta Beauty | Q2 FY27 | $3.0B | +9% | 12.5% |
| BBWI Bath & Body Works | Q2 FY27 | $1.5B | -2% | 14.3% |
| WOOF Petco Health & Wellness Company | Q2 FY27 | $1.5B | 0% | 3.2% |
| SBH Sally Beauty Holdings | Q3 FY26 | $935M | +0.2% | 9.2% |
| TITN Titan Machinery | Q2 FY27 | $496M | -9% | -0.5% |
| SGU Star Group, L.P. | Q3 FY26 | $358M | +17% | -9.5% |
| FLWS 1 800 Flowers | Q1 FY27 | $171M | -11% | -27.1% |
| RENT Rent the Runway | Q2 FY27 | $97.7M | +21% | -8.0% |
Source: Leslie's 10-Q on SEC EDGAR · CIK 1821806 · Retail-Retail Stores, NEC
More on LESL
History
Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results