Welcome to our dedicated page for Siteone Landscape Supply news (Ticker: SITE), a resource for investors and traders seeking the latest updates and insights on Siteone Landscape Supply stock.
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 reported a strong third quarter for 2020 with net sales of $751.9 million, marking a 15% year-over-year increase. Organic daily sales rose by 11% due to heightened demand for outdoor living products. The company's net income grew 39% to $48.2 million, driven by improved gross margins and effective SG&A management. SiteOne reduced its net debt to Adjusted EBITDA ratio to 0.8x from 2.9x year-over-year, enhancing its financial flexibility. Due to favorable market conditions, the company raised its 2020 Adjusted EBITDA guidance to $230 million - $236 million.
SiteOne Landscape Supply, Inc. (NYSE: SITE), the largest national wholesale distributor of landscape supplies in the U.S., will release its third quarter 2020 results on October 28, 2020, before market opening. A conference call is scheduled at 8:00 a.m. ET that day for discussions on the results. Investors can access the call via the Company's Investor Relations website, with a replay available until November 11, 2020. SiteOne serves residential and commercial landscape professionals across the U.S. and Canada.
SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Hedberg Supply, the leading supplier of hardscapes in Minnesota. This acquisition enhances SiteOne's product offerings in hardscapes and nursery supply, supporting its mission to become the premier full-line distributor in the landscape sector across the U.S. and Canada. With this being their eighth acquisition this year, SiteOne aims to expand its market presence and improve customer service in the green industry.
SiteOne Landscape Supply (NYSE: SITE) has acquired BURNCO Landscape Centres Inc., enhancing its market presence in Western Canada. BURNCO operates 12 locations across British Columbia, Alberta, and Saskatchewan, specializing in hardscapes and landscape supplies. This acquisition marks SiteOne's seventh foray into expansion for 2020, aiming to solidify its position as a leading distributor in North America. SiteOne's CEO expressed optimism about the synergy with BURNCO, aiming to provide better services to landscape professionals and improve customer experiences.