Filing Flows › Leslie's (LESL) › Q3 FY26 › vs Q3 FY25
Leslie's (LESL) Q3 FY26 vs Q3 FY25 (year over year)
Leslie's's revenue fell $41.9M (-8%) from $500M in Q3 FY25 to $458M in Q3 FY26. Gross margin 36.5% against 39.6% (-3.1 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 Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 36.5% | 39.6% | -3.1 pts |
| Operating margin | 13.4% | 13.7% | -0.2 pts |
| Net margin | 10.4% | 4.3% | +6.1 pts |
| Free cash flow margin | 21.4% | 21.4% | -0.0 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $458M | $500M | −$41.9M | -8% |
| Gross profit | $167M | $198M | −$30.8M | -16% |
| Cost of revenue | $291M | $302M | −$11.1M | -4% |
| Operating profit | $61.5M | $68.3M | −$6.9M | -10% |
| Operating expenses | $106M | $130M | −$23.9M | -18% |
| Pre-tax earnings | $47.3M | $52.6M | −$5.2M | -10% |
| Other expense, net | $14.1M | $15.8M | −$1.6M | -10% |
| Income tax benefit | $478K | −$30.8M | $31.3M | — |
| Net earnings | $47.8M | $21.7M | $26.1M | +120% |
| Depreciation & amortization | $7.6M | $8.6M | −$1.0M | -12% |
| Share-based compensation | $796K | $1.6M | −$775K | -49% |
| Working capital & other | $42.8M | $83.0M | −$40.2M | -48% |
| Operating cash flow | $99.0M | $115M | −$16.0M | -14% |
| Free cash flow (OCF − capex) | $97.9M | $107M | −$9.1M | -9% |
| Capital expenditures | $1.0M | $7.9M | −$6.8M | -87% |
Questions
How much did Leslie's's revenue grow year over year in Q3 FY26?
Leslie's's revenue fell $41.9M (-8%) from $500M in Q3 FY25 to $458M in Q3 FY26. Gross margin 36.5% against 39.6% (-3.1 pts).