Siteone Landscape Supply Inc Stock Price, News & Analysis

SiteOne Landscape Supply (NYSE: SITE) has announced the completion of its acquisition of Kaknes Landscape Supply, a wholesale distributor based in Naperville, Illinois. This acquisition marks SiteOne's 13th acquisition in 2022, significantly enhancing its presence in the Chicago market. The move aims to solidify SiteOne's status as a market leader in nursery products and expand its customer service capabilities. Both companies express enthusiasm about the partnership, emphasizing a shared commitment to quality and customer satisfaction.

SiteOne Landscape Supply (NYSE: SITE) has completed its acquisition of Stone Plus, LLC, a Florida-based wholesale distributor of landscape supplies. This acquisition, the 12th for SiteOne in 2022, enhances its leadership in hardscapes and bulk landscape materials in Northeast Florida. CEO Doug Black expressed enthusiasm for the merger, noting the value it brings to customers and the expanded market presence. Stone Plus founder Bob Supina emphasized their commitment to delivering exceptional service as part of the SiteOne family.

SiteOne Landscape Supply (NYSE: SITE) has successfully completed its acquisition of Jim Stone Co. of Louisiana, a wholesale distributor specializing in natural stone and hardscapes. This acquisition marks SiteOne's 11th in 2022, enhancing its product offerings and expanding its market presence in the Gulf Coast region. The partnership is expected to deliver greater value to customers and opportunities for employees. SiteOne is the largest national distributor of landscape supplies in the U.S., catering mainly to landscape professionals involved in outdoor space design and maintenance.

SiteOne Landscape Supply (NYSE: SITE) has successfully acquired Linzel Distributing, a wholesale distributor of outdoor lighting and landscape supplies based in Hamilton, Ontario. This acquisition marks SiteOne's tenth purchase in 2022 as it aims to enhance its market presence and service offerings. According to Doug Black, CEO of SiteOne, the integration of Linzel will further strengthen customer service and product expertise for landscape contractors in Ontario and Eastern Canada. The move aligns with SiteOne’s commitment to improving customer experience and associate development.

SiteOne Landscape Supply (NYSE: SITE) has successfully acquired Cape Cod Stone, a wholesale distributor of hardscape products based in Orleans, Massachusetts. This marks SiteOne's ninth acquisition in 2022, highlighting its strategy to expand its market presence and enhance service offerings. Cape Cod Stone has a history of supplying quality stone products, and its integration is expected to bolster SiteOne's expertise in hardscapes. The acquisition aims to provide more opportunities for employees and improve service for clients in the growing Massachusetts Cape market.

SiteOne Landscape Supply reported a 12% increase in net sales for the second quarter of 2022, totaling $1.22 billion, driven by 8% organic daily sales growth. Gross profit rose 19% to $461.1 million, with gross margin improving 210 basis points to 37.9%. Net income increased 14% to $140.7 million, and Adjusted EBITDA grew 16% to $222.0 million. The company successfully completed six acquisitions and raised its Adjusted EBITDA guidance for 2022 to $440 million to $460 million.

SiteOne® Landscape Supply completed the acquisition of River Valley Horticultural Products, a distributor of landscape supplies based in Little Rock, Arkansas. This acquisition marks SiteOne's eighth foray into expanding its market presence in 2022, enhancing its service offerings to landscape professionals in Central Arkansas. SiteOne aims to leverage River Valley's established reputation and customer base to provide a fuller range of landscaping products. This strategic move aligns with SiteOne's goal of becoming a comprehensive distributor in the landscape supply sector.

SiteOne Landscape Supply, Inc. (NYSE: SITE), the largest national wholesale distributor of landscape supplies in the U.S., is set to announce its second quarter 2022 results on August 3, 2022, before market opens. A conference call will follow at 8:00 a.m. ET, where stakeholders can discuss the results. Investors can access the call via the Company's Investor Relations website or by phone (domestic: 844-825-9789, international: 412-317-5180). A replay will be available post-call until 11:59 p.m. ET on August 17, 2022.

SiteOne Landscape Supply (NYSE: SITE) has successfully acquired A&A Stepping Stone, a wholesale distributor based in Sacramento, California. This acquisition marks SiteOne's seventh in 2022, enhancing its hardscapes and landscape supplies offerings. Doug Black, Chairman and CEO, expressed enthusiasm for integrating A&A into SiteOne's operations, which aims to strengthen their market presence and customer service. The move is aligned with SiteOne's strategy to broaden its product and service range for landscape professionals in the region.