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SiteOne Landscape Supply reports developments tied to its role as a national full product line wholesale distributor of landscape supplies in the United States, with an established presence in Canada. The company serves residential and commercial landscape professionals involved in the design, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces.
Recurring news includes quarterly earnings, net sales trends, gross margin, SG&A management, organic daily sales, pricing, commodity deflation and market demand. Updates also cover completed distributor acquisitions, expansion into additional local markets and product categories such as irrigation, agronomics, hardscapes, lighting and landscape supplies, as well as investor presentations and executive leadership changes.
SiteOne Landscape Supply (NYSE: SITE) has acquired Seffner Rock & Gravel, a leading distributor based in Tampa, Florida. This acquisition marks SiteOne's first branch dedicated to hardscapes and bulk materials in Florida. The deal enhances SiteOne's capabilities to service customers in the Central Florida market, contributing to its growth strategy with a total of eight acquisitions in 2021. Seffner's reputation for high-quality products aligns well with SiteOne's focus on delivering top-tier landscape supplies to professionals in the industry.
SiteOne Landscape Supply (NYSE: SITE) announces the acquisition of Semco Stone, one of the largest natural stone distributors in the Midwest, enhancing its market presence. Semco operates four locations in Ohio and Missouri, providing high-quality natural stone and landscaping supplies. This acquisition marks SiteOne's seventh in 2021, reflecting its strategy to expand its range of landscape supplies and services. Both companies emphasize the value of their employees as key assets, promising a continued commitment to customer satisfaction.
SiteOne Landscape Supply (NYSE: SITE), the premier national wholesale distributor of landscape supplies in the U.S., announced participation in the Baird Global Industrial Conference. CEO Doug Black and CFO John Guthrie will present virtually on November 9, 2021, at 11:25 a.m. ET. The company serves residential and commercial landscape professionals and is expanding its presence in Canada. For more information, visit siteone.com.
SiteOne Landscape Supply reported a robust performance for Q3 2021, with net sales up 25% to $936.4 million. Organic Daily Sales grew by 15%, driven by strong demand for landscaping products. Gross profit surged 36% to $340.5 million, while net income rose 66% to $80.0 million. Adjusted EBITDA also saw significant growth, increasing 46% to $128.2 million. The company remains optimistic, projecting 2021 Adjusted EBITDA between $380 million to $400 million, reflecting a promising outlook amid ongoing market trends.
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SiteOne Landscape Supply, Inc. (NYSE: SITE) will announce its Q3 2021 results on November 3, 2021, before market open. A conference call to discuss these results will occur at 8:00 a.m. (ET). Investors can access the live call via the Investor Relations section of the company’s website or by phone at (877) 705-6003 (domestic) or (201) 493-6725 (international). The replay will be available until November 17, 2021. SiteOne remains the largest national distributor of landscape supplies in the U.S.
SiteOne Landscape Supply, the largest national wholesale distributor of landscape supplies in the U.S., announced participation in the 2021 RBC Capital Markets Global Industrials Conference. Doug Black, CEO, and John Guthrie, CFO, will present virtually on September 9, 2021, at 8:40 a.m. ET. Investors can access the live webcast and additional materials on the Investor Relations section of the SiteOne website. SiteOne serves landscape professionals handling design, installation, and maintenance for outdoor spaces, with a growing presence in Canada.
Hydrobuilder Holdings has appointed Chintan Patel as the new Chief Information Officer (CIO). Chintan brings over five years of experience from SiteOne Landscape Supply where she developed their eCommerce and IT systems. Her expertise will be pivotal for Hydrobuilder as they aim to expand in the hydroponics and specialty agriculture sectors. The company, which is the second largest omnichannel platform in the industry, emphasizes integrating technology to enhance business value. This leadership change marks a strategic move towards strengthening their operations.
SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Green Brothers Earth Works and Southern Landscape Supply, enhancing its footprint in the Atlanta market. This marks SiteOne's sixth acquisition in 2021, targeting growth in landscape supply distribution. Green Brothers, with a strong presence and expertise in landscape materials, shares SiteOne's commitment to quality service. CEO Doug Black emphasized that this strategic move aligns with their mission to serve landscape professionals across the U.S. and Canada.
SiteOne Landscape Supply reported strong financial results for the second quarter ended July 4, 2021, with net sales rising 33% to $1.1 billion, driven by a 22% increase in organic daily sales and $90.4 million from acquisitions. Gross profit surged by 36% to $388.2 million, supported by improved gross margins. Net income jumped 56% to $123.5 million. The company's cash position is solid, with $107.8 million on hand and reduced net debt of $257.2 million. SiteOne projects a favorable outlook for 2021, anticipating Adjusted EBITDA between $335 million and $365 million, reflecting growth of 29% to 40% year-over-year.