Filing Flows › Leslie's (LESL) › Q3 FY25
Leslie's (LESL) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 7, 2025
Leslie's (LESL) reported revenue of $500M for the third quarter fiscal 2025 (Q3 FY25), -12% from a year earlier and +182% from the quarter before. Operating margin was 13.7%, net earnings $21.7M (4.3% of revenue).
Leslie's, Q3 FY25: revenue $500M (-12% year over year), operating margin 13.7%, net earnings $21.7M, operating cash flow $115M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $500M | +182% | -12% |
| Gross profit | $198M | +350% | -14% |
| Operating profit | $68.3M | — | -30% |
| Net earnings | $21.7M | — | -64% |
| Operating cash flow | $115M | — | -35% |
| Free cash flow | $107M | — | -35% |
What changed
Revenue was $500.3M in Q3 FY25, down 12% year over year and up 182% from the previous quarter.
Gross margin was 39.6%, down 0.6 points from a year earlier. Operating profit was $68.3M, a 13.7% margin (down 3.5 points year over year). Operating expenses fell 1% while revenue fell 12%. Net earnings were $21.7M, down 64% year over year. The effective tax rate was 58.7%.
Operating cash flow was $114.9M (down 35% year over year), 529% of net earnings. Non-cash charges added back $8.6M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items added $83.0M. Capital expenditures of $7.9M left free cash flow of $107.1M.
Questions
What was Leslie's revenue in the third quarter fiscal 2025?
Leslie's (LESL) reported revenue of $500M for the third quarter fiscal 2025 (Q3 FY25), -12% from a year earlier and +182% from the quarter before.
Was Leslie's profitable in the third quarter fiscal 2025?
Operating profit was $68.3M (13.7% of revenue) and net earnings $21.7M.
Source: Leslie's 10-Q on SEC EDGAR.