Siteone Landscape Supply Inc Stock Price, News & Analysis

SiteOne Landscape Supply (NYSE: SITE) reported Q2 2024 earnings with net sales increasing 4% to $1.41 billion, despite a 3% decrease in Organic Daily Sales. Gross profit rose 4% to $510.3 million, while gross margin slightly contracted to 36.1%. Net income attributable to common shares decreased 3% to $120.2 million. Adjusted EBITDA saw a minor decrease to $210.5 million with a 14.9% margin. The company closed four acquisitions during the quarter and one post-quarter. SiteOne's CEO, Doug Black, expressed satisfaction with improved conditions in June, despite softer end market demand and price deflation. The company updated its Fiscal 2024 Adjusted EBITDA guidance to a range of $380 million to $400 million, expecting continued market softness and deflation to impact results.

SiteOne Landscape Supply (NYSE: SITE) has announced the release date for its second quarter 2024 financial results. The results will be published before the market opens on July 31, 2024. A conference call will follow at 8:00 a.m. ET, accessible via webcast on the company’s Investor Relations website. Telephonic access is available domestically at 877-704-4453 and internationally at 201-389-0920. The replay of the call will be available until August 14, 2024.

SiteOne is the largest national full product line wholesale distributor of landscape supplies in the U.S. and is expanding in Canada. It serves both residential and commercial landscape professionals.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Millican Nurseries, a leading wholesale distributor of nursery products in New Hampshire. This marks SiteOne's fifth acquisition in 2024, aiming to enhance its landscape supply offerings in the greater Boston and New England markets. Doug Black, Chairman and CEO of SiteOne, emphasized the acquisition's role in expanding their product line and services. Co-owners of Millican Nurseries, John Bryant and Julia Cotter, expressed optimism about the growth opportunities for their employees under SiteOne's umbrella. SiteOne is the largest national wholesale distributor of landscape supplies in the U.S. with a growing presence in Canada.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Cohen & Cohen Natural Stone, a wholesale distributor of hardscapes products based in Ottawa, Ontario, Canada. This marks SiteOne's fourth acquisition in 2024, enhancing its ability to serve landscape professionals in eastern Canada. SiteOne CEO Doug Black highlighted Cohen & Cohen's reputation for quality and how the acquisition will expand their product offerings. Cohen & Cohen President Andrew Colautti expressed enthusiasm for joining the SiteOne family. SiteOne is the largest wholesale distributor of landscape supplies in the U.S. with a growing Canadian presence.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Hardscape.com, a leading distributor of hardscape products in the U.S. and Canada. Hardscape.com, which operates from four Florida locations, specializes in outdoor porcelain pavers and holds exclusive rights to Saxa Gres Italian porcelain products. This acquisition enhances SiteOne's offerings in Florida and supports its national premium hardscapes strategy. This marks SiteOne's third acquisition in 2024, aligning with their goal to extend market reach and services for landscape professionals. Both companies express enthusiasm for growth and innovation through this partnership.

SiteOne Landscape Supply (NYSE: SITE) announced participation in the William Blair Growth Stock Conference. Chairman and CEO Doug Black, along with CFO John Guthrie, will present on June 4, 2024, at 8:40 a.m. CT (9:40 a.m. ET) in Chicago. The presentation will be available via live webcast on the company's Investor Relations website.

SiteOne Landscape Supply reported its first quarter 2024 earnings with a 8% increase in net sales to $904.8 million. Gross profit increased by 5% to $301.2 million, although gross margin contracted. The company closed two acquisitions post-quarter and expects commodity price deflation to impact results, with a focus on organic sales growth and EBITDA margin improvement.

SiteOne Landscape Supply, Inc. (NYSE: SITE) has acquired a majority stake in Devil Mountain Wholesale Nursery, , the largest distributor of landscape trees and plants in California. This strategic move allows SiteOne to expand its product line and geographic reach in the Western US, solidifying its position as a leader in the landscape supply industry. The acquisition marks SiteOne's commitment to growth and customer satisfaction, further enhancing its portfolio and market presence.

SiteOne Landscape Supply, Inc. (NYSE: SITE) has acquired Eggemeyer, a wholesale distributor of bulk landscape supplies in Texas, strengthening its position in the central Texas market. This marks SiteOne's first acquisition in 2024, aiming to enhance product offerings and services for customers. Eggemeyer's leadership and team will join SiteOne, providing growth opportunities for employees.