Leslie's: Taking A Dive

Jul. 16, 2023 8:26 AM ETLeslie's, Inc. (LESL) StockLESL9 Comments

Summary

  • Shares of Leslie's have imploded after a post IPO run higher.
  • Shares are down 80% from their peak as 2023 sales, but mostly margins, are set to fall.
  • This is manageable, if not for poor working capital conversion pushing up leverage ratios a great deal in an uncertain period of time.
  • Looking for more investing ideas like this one? Get them exclusively at Value In Corporate Events. Learn More »

A small group of women jumping into a villa swimming pool

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In November 2020, I concluded that I was not jumping in the shares of Leslie's (NASDAQ:LESL) as the largest US pool and spas accessories supplier went public. Amidst sky high valuations, applied across the industry, I was

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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