Industry News
What Leslie’s Reverse Stock Split Signals About the Company’s Future

Leslie’s, Inc. has been a cornerstone of the pool and spa industry for decades. With nearly a thousand retail outlets, a growing e-commerce arm, and a brand known to both homeowners and pool professionals, it’s hard to overstate the company’s footprint. Yet in recent months, Leslie’s has found itself at the center of headlines for reasons far less celebratory than its market presence.
The company’s stock performance has been under pressure throughout 2025, culminating in its removal from the S&P SmallCap 600 index earlier this year. For a firm that only made its market debut in late 2020, that shift is symbolic. While index membership doesn’t change how a company serves its customers, it carries weight in the financial world. Being part of the S&P SmallCap 600 gives a company visibility, provides passive fund support, and signals investor confidence. Losing that standing means Leslie’s no longer met benchmarks for market cap and liquidity — a clear sign the stock has struggled to maintain momentum.
The downgrade came against a backdrop of deteriorating financials. Analysts had already been sounding alarms about Leslie’s declining revenue and shrinking profitability. Credit agencies piled on, with one downgrading the company’s rating to “B-”, highlighting high leverage and weaker cash flow as areas of concern.

Earnings That Missed the Mark
The numbers tell part of the story. Leslie’s reported a year-over-year revenue decline of more than 12% in its most recent quarter. Same-store sales fell as well, showing that softness wasn’t just a matter of fewer new locations but of weaker performance across existing stores. Margins have also tightened, with adjusted earnings dropping compared to last year. The company’s cash position is down, debt levels remain high, and credit agencies have raised concerns about profitability and cash flow.
These results were especially disappointing because the third fiscal quarter is traditionally Leslie’s strongest period, benefiting from peak pool season. Management cited unseasonably cool and rainy weather across several regions as a factor in slower sales. But analysts noted that weather alone doesn’t fully explain the scale of the decline, pointing instead to mounting competition, elevated costs, and challenges in converting store traffic into stronger margins.
Some of these challenges are beyond Leslie’s control. Weather disruptions during the summer season dampened pool usage and related sales in several regions. Broader consumer headwinds — from inflation to shifting discretionary spending habits — have also had an impact. But other pressures, like competition from e-commerce giants and discount channels, reflect how challenging it has become for specialty retailers to defend market share while maintaining margins.
A Reverse Stock Split and a Temporary Bounce
Amid these challenges, Leslie’s leadership has taken steps to stabilize its financial standing, the most visible being the approval of a 1-for-20 reverse stock split. Set to take effect after market close on September 25, with trading beginning on a split-adjusted basis the following day.
Mechanically, the split consolidates every twenty existing shares into one new share, instantly boosting the trading price by a factor of twenty. The total number of outstanding shares, currently about 185.8 million, will shrink to roughly 9.3 million. Authorized shares will be cut proportionately, from one billion to 50 million. No fractional shares will be issued; instead, any fractions created by the conversion will be aggregated and sold, with cash distributed to shareholders.
The split is designed to ensure compliance with Nasdaq’s minimum bid price requirement, staving off the risk of delisting. For a company whose stock had been trading at levels that put it dangerously close to penny-stock territory, the decision represents both a defensive maneuver and an attempt to reframe perception in the investment community.
For Leslie’s, the split serves two important purposes. First, it addresses Nasdaq’s minimum bid price requirement, a critical step in maintaining the company’s listing. Delisting from a major exchange would be a serious setback, reducing liquidity and making it harder for institutions to invest. Second, it signals to investors that management is taking active measures to address the company’s situation. While a reverse split doesn’t improve revenue or margins on its own, it creates breathing room and restores a degree of credibility at a time when confidence has been wavering.
The market reaction reflects that nuance. In the days following the announcement, Leslie’s shares rose, showing that investors were willing to reward decisive action. Some of that bounce may also be attributed to short covering and speculative trading, as the stock has been one of the more volatile names on the market this year. Still, sentiment matters, and for a company under pressure, even a temporary uplift can create momentum.
Outlook Uncertain
For now, Leslie’s stands at an inflection point. On one side is the reality of declining sales, compressed profitability, and a stock that has lost much of its shine since its 2020 IPO. On the other is a management team taking structural steps — from leadership changes to the reverse split — aimed at buying time and regaining stability.
Whether those steps lead to a sustained recovery will depend on upcoming quarters. Investors will want to see stronger same-store sales, improved cash flow, and evidence that cost pressures are being managed. Without those gains, the risk remains that today’s rally proves fleeting, more of a technical rebound than the start of a turnaround.
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Industry News
Why Pools Matter: Pool Horizons Takes Its Message Global

For an industry that spends a great deal of time talking about how pools are built, operated and maintained, Pool Horizons is advancing a different conversation: why swimming pools matter in the first place.
Launched in 2023, Pool Horizons is a global initiative bringing together leaders from the swimming pool industry and broader aquatic community to examine and communicate the role pools play in society. Its work focuses on areas including health and wellbeing, community development, water safety and sustainability, with an emphasis on giving the industry research and real-world examples that demonstrate the value of aquatic spaces beyond recreation.
Over the next several months, Pool Horizons will continue that conversation at major industry gatherings in the United States and Europe, with appearances scheduled in Phoenix, Lyon and Atlantic City.
Pool Horizons Heads to the MasterMind Summit
The first stop will be the PHTA & GENESIS MasterMind Summit, taking place September 16–18 at The Wigwam in Litchfield Park, Arizona.
Pool Horizons will host a two-hour session on Friday, September 18, from 8 a.m. to 10 a.m., connecting the cultural and social history of swimming pools with the data-backed narrative the industry is working to develop.
Author and historian Jeff Wiltse will explore the history of swimming pools and their enduring social, cultural and economic importance. Attendees will then hear about the latest Pool Horizons initiatives and how that work applies to the U.S. market.
The session will conclude with industry leaders discussing how different stakeholders can work together to better communicate the value of pools and create new opportunities for the industry.
Taking the Conversation to France
The initiative will head overseas in November for Piscine Global 2026 in Lyon, France.
On November 18 from 4 p.m. to 5 p.m., Pool Horizons will present preliminary findings from the Global Aquatic Social Impact Framework (GASIF) pilot study. The project is aimed at developing a more data-driven understanding of the social impact created by swimming pools and aquatic facilities.
Representatives from participating industry associations in France, Spain and the United States will take part, followed by a roundtable examining the challenges and future of the swimming pool industry. Leaders from CF Group, Fluidra, Hayward and Pentair are scheduled to participate in the discussion.
Pool Horizons will make a second appearance in Lyon during Aqualie on November 19 from 4:45 p.m. to 5:15 p.m. That session will introduce Pool Horizons and showcase a French public swimming pool Best-in-Class project, providing a real-world example of the role aquatic facilities can play within their communities.
Returning to Connect With The Industry in Atlantic City in 2027
The schedule continues into the new year with the Pool Horizons Summit in Atlantic City on January 25, 2027, from 3 p.m. to 6 p.m.
Following its 2026 gathering, Pool Horizons will return with a program that includes a keynote presentation, a new Best-in-Class project and contributions from leading figures throughout the swimming pool industry.
Together, the upcoming events provide Pool Horizons with an opportunity to continue building the conversation on both sides of the pond.
Industry News
Skimmer Expands Into Pool Construction Software With Acquisitions of Pool Builder Geek and Poologics
The two software platforms form the foundation of a unified offering for pool professionals; Pool Builder Geek founder Tommy Reynolds joins Skimmer to lead construction strategy.

AUSTIN, TX, August 24, 2026 — Skimmer, the leading operating system for pool service and maintenance professionals, today announced the acquisitions of Pool Builder Geek and Poologics, two software platforms purpose-built for pool construction businesses.
The acquisitions mark Skimmer’s expansion into pool construction and establish the foundation for a unified platform serving pool professionals from construction through ongoing service and maintenance.
As part of the acquisition, Pool Builder Geek founder Tommy Reynolds, who has extensive experience in the pool construction software space, will join Skimmer, leading the company’s construction strategy and continued investment in solutions for pool builders.
“Our vision is to build an end-to-end platform for the pool and spa industry,” said Jack Nelson, CEO of Skimmer. “Pool Builder Geek brings an AI-native platform designed to evolve quickly with the industry, while Poologics brings a proven product that builders have relied on for years. Together, they significantly accelerate our ability to serve pool construction businesses.”
Pool builders manage complex estimating, permitting, project management, subcontractor coordination, customer communication, and job costing processes. Many still rely on spreadsheets or generic construction tools that were not designed for their specific needs. Pool Builder Geek and Poologics address those challenges with purpose-built capabilities, including estimating, project management, permitting, job costing, and AI-powered visualization.
“Pool builders do not need generic contracting software with a pool label added to it,” said Reynolds. “We built Pool Builder Geek specifically around how pools are sold and built with AI at the core of the platform. Joining Skimmer gives us the resources and expertise to accelerate our product roadmap and deliver even more for the builders we serve. I’m excited about what we can build together and what this means for the future of the pool industry.”
“We built Poologics on the belief that pool construction deserves software designed specifically for the industry,” said Nate Pruitt, CEO of Poologics. “Skimmer has built its business on that same belief for pool service. Together, we can give builders more resources, stronger support, and a faster path to innovation.”
Service and maintenance remain a core focus of Skimmer. The expansion into construction advances the company’s long-term strategy to provide connected, purpose-built tools for pool professionals across the industry.
About Skimmer
Skimmer is one of America’s leading pool service platforms. The company is on a mission to modernize the pool and spa service and repair industry through easy-to-use software and best-in-class support. Over 35,000 pool service professionals servicing 1,000,000+ pools in North America use Skimmer to get organized, get paid faster, and grow their businesses. For more information, visit getskimmer.com.
About Poologics
Poologics is an all-in-one business management platform built specifically for swimming pool builders. It streamlines CRM, estimating, project management, and job costing, helping professionals run their businesses with greater efficiency, accuracy, and control. For more information, visit poologics.com.
About Pool Builder Geek
Pool Builder Geek is an AI-powered project management platform built exclusively for the swimming pool construction and renovation industry. Created by a team with deep experience building software for pool builders, it gives builders purpose-built tools for project tracking, scheduling, subcontractor coordination, budgeting, job costing, and AI-powered backyard visualization. For more information, visit poolbuildergeek.com.
Media contact
Travis Wingate
Skimmer, CMO, [email protected], 416-838-9161
Industry News
Landmark Aquatic Names Jason Hill Kansas City General Manager

KANSAS CITY, Mo. — Landmark Aquatic, a national leader in commercial aquatic construction and renovation, is pleased to announce the promotion of Jason Hill to General Manager of its Kansas City, Missouri market. Hill brings nearly two decades of commercial aquatic experience to the role, having worked his way through the industry as a laborer, plumber, project superintendent and project manager. That hands-on path through the trades gives him a perspective few general managers share.
“I truly understand the jobs of everyone here,” explains Hill. “It’s not just how they’re supposed to perform, I actually understand their day-to-day struggles, their desire for growth, and their need to have the best tools at their disposal to do their job efficiently.”
As he begins his tenure, Hill said mentorship and workforce development will be a top priority, particularly given how few professionals nationwide specialize in commercial pools.
“The commercial pool industry is such an anomaly,” he said. “As we grow our team, we are not likely to find commercial pool people waiting in our market to be hired, rather I am going to have to make commercial pool people. Training and coaching them is a big part of making that happen.” Hill’s emphasis on training echoes the company culture that earned Landmark a Top Workplace award, given in part for its investment in employee career development.
Hill is already collaborating closely with Landmark’s marketing team to grow the company’s visibility across the Kansas City market, contributing fresh ideas that are helping generate excitement. “I’m excited to compete with our other markets and see how far we can climb,” he said, noting his hometown ties add extra motivation.
With his depth of field experience and people-first approach, Hill is positioned to grow Landmark Aquatic’s presence and reputation throughout the region.
Jason can be reached at [email protected].
About Landmark Aquatic:
Landmark Aquatic is a nationwide provider of commercial aquatic facility design, construction, and maintenance services, with more than six decades of industry experience. Serving clients across most of the U.S., Landmark delivers construction-led solutions and on-going support though its AquatiCare maintenance team, ensuring excellence “for the life of your pool.” Committed to the full lifecycle of every facility, Landmark prioritizes long-term partnerships while adapting to client needs through exceptional service, operational excellence, and forward-thinking solutions. For more about Landmark Aquatic visit www.landmarkaquatic.com.
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