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.
News for SiteOne Landscape Supply, Inc. (NYSE: SITE) centers on its role as the largest and only national full product line wholesale distributor of landscape supplies in the United States, with an established presence in Canada. Coverage highlights how the company serves residential and commercial landscape professionals who design, install and maintain lawns, gardens, golf courses and other outdoor spaces.
Readers of the SITE news page can expect frequent updates on acquisitions and market expansion. Recent announcements include the completed acquisitions of Bourget Flagstone Co. in Santa Monica, California; French Broad Stone Yards in Arden and Brevard, North Carolina; CC Landscaping Warehouse Plus in Bradenton, Florida; Red’s Home & Garden in Wilkesboro, North Carolina; Autumn Ridge Stone & Landscape Supply in Holland, Michigan; Green Trade Nursery; Grove Nursery; and Nashville Nursery and Landscape Supply in Tennessee. These transactions are described as expanding SiteOne’s presence in local markets, strengthening its teams and broadening the products and services it offers landscape professionals.
The SITE news feed also features quarterly earnings releases, where the company reports net sales, gross profit, gross margin, SG&A, net income, Adjusted EBITDA, cash from operating activities and net debt. Management commentary discusses trends in end markets such as maintenance, new residential construction, repair and upgrade, and new commercial construction, as well as pricing dynamics in categories like grass seed.
In addition, SiteOne uses news releases to announce leadership and governance developments, such as the planned retirement of its Chief Financial Officer and the appointment of a successor. For investors and industry followers, the SITE news page offers a consolidated view of operational performance, strategic acquisitions and key corporate updates related to the landscape supply sector.
SiteOne Landscape Supply (NYSE: SITE) has completed the acquisition of Whittlesey Landscape Supplies & Recycling, enhancing its position as a leader in bulk landscape supplies and hardscapes in central Texas. This marks SiteOne's 16th acquisition in 2022, reflecting its strategy to expand in key markets. The acquisition is expected to create stronger value for customers, according to both the CEO of SiteOne and the owner of Whittlesey. SiteOne continues to advance its national presence as the only full product line wholesale distributor of landscape supplies in the U.S.
SiteOne Landscape Supply (NYSE: SITE) has completed the acquisition of Telluride Natural Stone, a key distributor of hardscapes and landscape supplies located in the Phoenix, Arizona market. This represents SiteOne's 15th acquisition in 2022, enhancing its offerings and expanding its market presence. CEO Doug Black highlighted the reputation of Telluride's team and products, which will contribute to customer value and competitive positioning. The acquisition aims to strengthen SiteOne's role in the growing hardscape and natural stone markets.
SiteOne Landscape Supply reported an 18% net sales increase to $1.1 billion in Q3 2022, with organic daily sales up 12% due to pricing and volume trends despite economic headwinds. Gross profit rose 14% to $388.6 million, while net income fell 8% to $73.3 million due to increased SG&A expenses, which rose to 26.2% of net sales. The company closed six acquisitions and increased its ABL facility to $600 million. A $400 million share repurchase was authorized. Adjusted EBITDA grew 6% to $135.6 million, with a guidance raise for full-year Adjusted EBITDA now expected between $455 million and $470 million.
SiteOne Landscape Supply (NYSE: SITE), the leading national wholesale distributor of landscape supplies, has announced its participation in the Baird Global Industrial Conference on November 8, 2022, in Chicago, Illinois. Doug Black, Chairman and CEO, along with John Guthrie, CFO, will present at 10:50 a.m. CT (11:50 a.m. ET). Established as the sole national distributor, SiteOne serves residential and commercial landscape professionals across the U.S. and Canada, focusing on delivering a comprehensive range of products for outdoor space design and maintenance.
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SiteOne Landscape Supply (NYSE: SITE) has successfully acquired Madison Block & Stone, a Wisconsin-based wholesale distributor of landscape supplies. This acquisition, the 14th in 2022, positions SiteOne as the leader in hardscapes within the Madison market. Madison Block & Stone offers an extensive selection of natural stone products and possesses a skilled workforce. The integration aims to enhance the customer experience and expand market reach. The company continues to solidify its status as the largest national distributor of landscape supplies in the U.S.
SiteOne Landscape Supply, Inc. (NYSE: SITE), the largest national wholesale distributor of landscape supplies in the U.S., announced it will release its third quarter 2022 results before market open on November 2, 2022. A conference call to discuss these results will be held at 8:00 a.m. (ET) on the same day. Investors can join the call via the Investor Relations section on the Company's website. A telephonic replay will also be available shortly after the call until November 16, 2022.
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.