Districts throughout the nation are engaged in comprehensive transformation to "turn around" low performing schools. Standardized test scores are used to gauge student achievement; however, academic gains may lag behind leading indicators such as improved school climate and effective leadership. This study examines 16 underperforming schools to discover what factors may be considered leading indicators. Turnaround and traditional schools were compared on three factors: leadership, climate and achievement. Assessment tools included the Multifactor Leadership Questionnaire (MLQ) (Avolio & Bass, 2004), standardized assessments, and participant ratings of overall school climate on an A to F grading scale. Findings show that turnaround teachers rated their leader significantly higher on all MLQ subscales and assigned significantly higher climate "grades," to their schools than traditional school teachers but demonstrated no significant academic gains. The authors assert that leading indicators may be indicative of the future growth of lagging indicators such as test scores, and should be considered benchmarks in the transformation process.