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How Leslie's (LESL) makes money
Leslie's (LESL) made $458M of revenue in the third quarter fiscal 2026 (Q3 FY26), -8% from a year earlier. Of every dollar of revenue, 36¢ was left as gross profit, 13¢ was left as operating profit, 10¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $458M | 100.0% |
| Cost of revenue | $291M | 63.5% |
| Gross profit | $167M | 36.5% |
| Operating expenses | $106M | 23.0% |
| Operating profit | $61.5M | 13.4% |
| Net earnings | $47.8M | 10.4% |
| Operating cash flow | $99.0M | 21.6% |
| Free cash flow | $97.9M | 21.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $458M | -8% |
| Q2 FY26 | $185M | +4% |
| Q1 FY26 | $147M | -16% |
| Q4 FY25 | $389M | -2% |
| Q3 FY25 | $500M | -12% |
| Q2 FY25 | $177M | -6% |
| Q4 FY24 | $398M | -8% |
From Leslie's 10-Q filed Aug 12, 2026 (on EDGAR).
Questions
How does Leslie's make money?
Leslie's (LESL) made $458M of revenue in the third quarter fiscal 2026 (Q3 FY26), -8% from a year earlier. Of every dollar of revenue, 36¢ was left as gross profit, 13¢ was left as operating profit, 10¢ was left as net earnings.
What is Leslie's profit margin?
Net earnings were $47.8M, 10.4% of revenue, in the third quarter fiscal 2026; the operating margin was 13.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.