Filing Flows › Leslie's (LESL) › Q3 FY26 › vs Q2 FY26
Leslie's (LESL) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Leslie's's revenue rose $274M (+148%) from $185M in Q2 FY26 to $458M in Q3 FY26. Gross margin 36.5% against 28.9% (+7.6 pts).
Leslie's, Q3 FY26: revenue $458M (-8% year over year), operating margin 13.4%, net earnings $47.8M, operating cash flow $99.0M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 36.5% | 28.9% | +7.6 pts |
| Operating margin | 13.4% | -20.4% | +33.8 pts |
| Net margin | 10.4% | -28.4% | +38.8 pts |
| Free cash flow margin | 21.4% | -32.8% | +54.2 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $458M | $185M | $274M | +148% |
| Gross profit | $167M | $53.3M | $114M | +213% |
| Cost of revenue | $291M | $131M | $160M | +122% |
| Operating profit | $61.5M | −$37.7M | $99.1M | — |
| Operating expenses | $106M | $91.0M | $14.6M | +16% |
| Pre-tax earnings | $47.3M | −$52.0M | $99.4M | — |
| Other expense, net | $14.1M | $14.4M | −$219K | -2% |
| Income tax benefit | $478K | −$447K | $925K | — |
| Net earnings | $47.8M | −$52.5M | $100M | — |
| Depreciation & amortization | $7.6M | $7.6M | $6K | +0.1% |
| Share-based compensation | $796K | $1.0M | −$227K | -22% |
| Working capital & other | $42.8M | −$11.5M | $54.3M | — |
| Operating cash flow | $99.0M | −$55.4M | $154M | — |
| Free cash flow (OCF − capex) | $97.9M | −$60.6M | $159M | — |
| Capital expenditures | $1.0M | $5.2M | −$4.2M | -81% |
Questions
How much did Leslie's's revenue grow quarter over quarter in Q3 FY26?
Leslie's's revenue rose $274M (+148%) from $185M in Q2 FY26 to $458M in Q3 FY26. Gross margin 36.5% against 28.9% (+7.6 pts).