SiteOne Landscape Supply, Inc. - SITE STOCK NEWS

SiteOne Landscape Supply reported Q3 2024 results with net sales increasing 6% to $1.21 billion, while organic daily sales decreased 1%. Gross profit rose 6% to $411.0 million with a margin of 34.0%. Net income declined to $44.4 million from $57.3 million year-over-year. The company faced market headwinds including 3% price deflation and softer repair and remodel market. Adjusted EBITDA decreased 4% to $114.8 million. The company plans to consolidate or close 16 branches in Q4, resulting in a $5 million one-time charge, and updated its FY2024 Adjusted EBITDA guidance to $370-380 million.

SiteOne Landscape Supply, Inc. (NYSE: SITE), the largest national full product line wholesale distributor of landscape supplies in the United States, has announced the release date for its third quarter 2024 earnings report. The company will disclose results before market open on Wednesday, October 30, 2024, followed by a conference call at 8:00 a.m. (ET) the same day.

Investors can access the live conference call via webcast on the company's Investor Relations website or by dialing 877-704-4453 (domestic) or 201-389-0920 (international). A replay will be available until November 13, 2024, by dialing 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 13749081.

SiteOne Landscape Supply (NYSE: SITE), the largest national full product line wholesale distributor of landscape supplies in the US, has announced its participation in two upcoming investor conferences. The company will attend the Jefferies Industrials Conference in New York on September 4, 2024, with a fireside chat scheduled for 2:30 PM EDT. SiteOne will also participate in the Zelman Housing Summit in Boston on September 12, 2024.

As the only national full product line distributor in its industry, SiteOne's presence at these conferences highlights its significant market position. Investors can access additional materials and company information through SiteOne's Investor Relations website.

SiteOne Landscape Supply (NYSE: SITE) reported Q2 2024 earnings with net sales increasing 4% to $1.41 billion, despite a 3% decrease in Organic Daily Sales. Gross profit rose 4% to $510.3 million, while gross margin slightly contracted to 36.1%. Net income attributable to common shares decreased 3% to $120.2 million. Adjusted EBITDA saw a minor decrease to $210.5 million with a 14.9% margin. The company closed four acquisitions during the quarter and one post-quarter. SiteOne's CEO, Doug Black, expressed satisfaction with improved conditions in June, despite softer end market demand and price deflation. The company updated its Fiscal 2024 Adjusted EBITDA guidance to a range of $380 million to $400 million, expecting continued market softness and deflation to impact results.

SiteOne Landscape Supply (NYSE: SITE) has announced the release date for its second quarter 2024 financial results. The results will be published before the market opens on July 31, 2024. A conference call will follow at 8:00 a.m. ET, accessible via webcast on the company’s Investor Relations website. Telephonic access is available domestically at 877-704-4453 and internationally at 201-389-0920. The replay of the call will be available until August 14, 2024.

SiteOne is the largest national full product line wholesale distributor of landscape supplies in the U.S. and is expanding in Canada. It serves both residential and commercial landscape professionals.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Millican Nurseries, a leading wholesale distributor of nursery products in New Hampshire. This marks SiteOne's fifth acquisition in 2024, aiming to enhance its landscape supply offerings in the greater Boston and New England markets. Doug Black, Chairman and CEO of SiteOne, emphasized the acquisition's role in expanding their product line and services. Co-owners of Millican Nurseries, John Bryant and Julia Cotter, expressed optimism about the growth opportunities for their employees under SiteOne's umbrella. SiteOne is the largest national wholesale distributor of landscape supplies in the U.S. with a growing presence in Canada.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Cohen & Cohen Natural Stone, a wholesale distributor of hardscapes products based in Ottawa, Ontario, Canada. This marks SiteOne's fourth acquisition in 2024, enhancing its ability to serve landscape professionals in eastern Canada. SiteOne CEO Doug Black highlighted Cohen & Cohen's reputation for quality and how the acquisition will expand their product offerings. Cohen & Cohen President Andrew Colautti expressed enthusiasm for joining the SiteOne family. SiteOne is the largest wholesale distributor of landscape supplies in the U.S. with a growing Canadian presence.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Hardscape.com, a leading distributor of hardscape products in the U.S. and Canada. Hardscape.com, which operates from four Florida locations, specializes in outdoor porcelain pavers and holds exclusive rights to Saxa Gres Italian porcelain products. This acquisition enhances SiteOne's offerings in Florida and supports its national premium hardscapes strategy. This marks SiteOne's third acquisition in 2024, aligning with their goal to extend market reach and services for landscape professionals. Both companies express enthusiasm for growth and innovation through this partnership.

SiteOne Landscape Supply (NYSE: SITE) announced participation in the William Blair Growth Stock Conference. Chairman and CEO Doug Black, along with CFO John Guthrie, will present on June 4, 2024, at 8:40 a.m. CT (9:40 a.m. ET) in Chicago. The presentation will be available via live webcast on the company's Investor Relations website.