Siteone Landscape Supply Inc Stock Price, News & Analysis

SiteOne Landscape Supply (NYSE: SITE) has successfully completed its acquisition of Yard Works, LLC, a well-established wholesale distributor of bulk landscape supplies in Central Virginia. With 13 locations, Yard Works has a strong market reputation, particularly in bulk mulch and soil. This acquisition marks SiteOne's fifth foray into expanding its market offerings in 2022, underscoring its commitment to enhancing product diversity and customer service. Yard Works' leadership anticipates growth opportunities through this partnership, aligning with SiteOne's customer-focused strategy.

SiteOne Landscape Supply (NYSE: SITE) has completed the acquisition of Across the Pond, a wholesale distributor based in Huntsville, Alabama. This acquisition marks SiteOne's fourth in 2022, enhancing its product offerings in the rapidly growing Huntsville market. Across the Pond has supplied hardscapes and bulk materials locally for over 20 years. Chairman and CEO Doug Black expressed enthusiasm for the partnership, emphasizing the commitment to excellent service and value for customers. This strategic move aims to expand SiteOne's reach within landscape supplies and services.

SiteOne Landscape Supply (NYSE: SITE) announced participation in the 42nd Annual William Blair Growth Stock Conference on June 7, 2022, in Chicago. Chairman Doug Black and CFO John Guthrie will present at 10:40 a.m. CT. As the largest wholesale distributor of landscape supplies in the U.S., SiteOne serves residential and commercial landscape professionals. A live webcast and more investor materials will be accessible on SiteOne’s Investor Relations page.

SiteOne Landscape Supply (NYSE: SITE) reported a strong first quarter for 2022, with net sales rising 24% to $805.3 million and adjusted EBITDA up 97% to $67.8 million. The gross profit increased 34% to $269.2 million, improving gross margin by 240 basis points to 33.4%. Despite the challenges of product inflation and supply chain issues, the company’s net income surged to $32.3 million from $7.4 million a year earlier, driven by solid demand and successful acquisitions, including JK Enterprise Landscape Supply. The outlook remains cautiously optimistic for 2022.

SiteOne Landscape Supply (NYSE: SITE) has completed the acquisition of Preferred Seed, a leading wholesale distributor of seed and agronomics based in New York and Pennsylvania. This marks SiteOne's third acquisition in 2022, enhancing its market presence in landscape supplies. Doug Black, CEO of SiteOne, praised Preferred Seed's reputation for excellent customer service. The partnership aims to expand opportunities for both teams and customers while continuing the tradition of personal service. SiteOne remains the largest national distributor of landscape supplies in the U.S.

SiteOne Landscape Supply (NYSE: SITE) has successfully completed its acquisition of BellStone Masonry Supply, a wholesale distributor located in Fort Worth, Texas. This marks SiteOne's second acquisition in 2022 as it aims to expand its footprint in the landscape supply industry. Both the CEO of SiteOne and the founder of BellStone expressed enthusiasm about the partnership, highlighting shared values and the potential for growth in the Fort Worth market. SiteOne remains the largest national wholesale distributor of landscape supplies in the U.S. and is expanding its presence in Canada.

SiteOne Landscape Supply, Inc. (NYSE: SITE) announced it will release its first-quarter 2022 results on May 4, 2022, before the market opens. A conference call is scheduled for 8:00 a.m. ET that same day to discuss the results, available via webcast on the Company's Investor Relations website. The call can also be accessed by phone, with a replay option available for two weeks. SiteOne is the largest national wholesale distributor of landscape supplies in the U.S. and has an expanding footprint in Canada.

SiteOne Landscape Supply (NYSE: SITE) has acquired JK Enterprise Landscape Supply, LLC, expanding its presence in Northern Virginia and Maryland with seven new locations. JK Enterprise is recognized for high-quality landscaping supplies, including mulches, soils, and hardscapes. This strategic acquisition enhances SiteOne's distribution network and aligns with its goal to be the leading full-line distributor for landscape professionals across the U.S. and Canada. The partnership promises growth opportunities for both SiteOne and JK Enterprise's customers.

SiteOne Landscape Supply reported strong financials for Q4 and FY 2021, achieving a 19% increase in net sales to $805.2 million in Q4, and a 29% increase to $3.48 billion for the full year. Gross profit rose 27% for Q4 and 35% for FY 2021, totaling $282.4 million and $1.21 billion, respectively. The company closed two acquisitions in Q4 and eight throughout the year, contributing positively to growth. Despite expected inflation, the outlook for 2022 remains cautiously optimistic with projected Adjusted EBITDA of $430 million to $450 million.