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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 (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.
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.