Shares of Leslie's (NASDAQ: LESL) , a purveyor of pool supplies to retail and professional customers, fell as much as 15% in early trading on Thursday. Although the stock had regained some lost ground by 1 p.m. EDT today, it was still off by roughly 10%. The company's post-close earnings release yesterday was likely behind the dour mood.
The interesting thing here is that Leslie's appears to have had a solid quarter. Fiscal second-quarter 2021 sales hit a record at $192.4 million, up 52% from the same period in 2020. Adjusted EBITDA came in at $9.5 million, a huge improvement over the negative $8.1 million seen in the year-earlier period. The adjusted quarterly loss was $0.01 per share compared to a loss of $0.18 in the same period of the previous year. The penny per share of red ink, meanwhile, was much better than the $0.09 loss analysts had been expecting.
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Why Shares of Leslie's Tanked 15% in Morning Trading Today