Leslie’s Inc reported a challenging Q2 2024, with revenue down 11% year over year to $188.66 million and gross margin compression driven primarily by June 2023 chemical price reductions and occupancy deleverage. Adjusted EBITDA was negative $19 million and adjusted diluted EPS came in at -$0.17. Management attributed weather-driven weakness and a normalization of post-pandemic spending to the revenue decline, noting cooler, wetter conditions in key markets and a delayed pool season. Despite weaker top-line performance in Q2, the company emphasized ongoing progress on strategic initiatives (AccuBlue Home, PRO program, store expansion, and pricing/promotions optimization) and guided that back-half margin expansion should help offset the first-half headwinds. The guidance implies modest top-line deterioration in discretionary categories and a rebound in margins in H2 as the June 2023 price actions cycle off and inventory/distribution costs normalize, supported by an improving order book and improved conversion in-store and online.