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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.