Siteone Landscape Supply Inc - SITE STOCK NEWS

SiteOne Landscape Supply (NYSE: SITE) has acquired Rock & Block Hardscape Supply, which operates two locations in California, serving the San Diego and Southern Orange County markets. This acquisition is part of SiteOne's strategy to enhance its hardscape distribution presence in Southern California, according to CEO Doug Black. Rock & Block's founders expressed enthusiasm for joining SiteOne, highlighting the potential for improved service and opportunities for their employees. This marks SiteOne's fifth acquisition in 2021, underscoring its expansion efforts in the landscape supply sector.

SiteOne Landscape Supply reported strong results for Q1 2021, with net sales reaching $650.2 million, a 41% increase from the prior year. Organic Daily Sales rose 32%, and net income stood at $7.4 million, rebounding from a loss of ($17.5) million last year. Adjusted EBITDA increased to $34.5 million, marking significant growth. The company raised its full-year guidance for Organic Daily Sales growth to low-double digits, anticipating Adjusted EBITDA of $300 million to $320 million. Cash on hand was $32.5 million.

SiteOne Landscape Supply (NYSE: SITE) announced its acquisition of Melrose Irrigation Supply and Sales, which includes six locations across Florida specializing in irrigation, lighting, and drainage products. This acquisition enhances SiteOne's market presence as part of its strategy to expand its leadership in the landscape supply industry. Doug Black, Chairman and CEO, expressed enthusiasm for Melrose's expertise and cultural alignment. This marks SiteOne's fourth acquisition in 2021, indicating a robust growth strategy to enhance service offerings to customers in the landscape supply market.

SiteOne Landscape Supply (NYSE: SITE) has announced the acquisition of Timberwall Landscape & Masonry Products, enhancing its presence in the Twin Cities market. Timberwall, located in Victoria, Minnesota, specializes in hardscape products and landscaping supplies for professionals and homeowners. This acquisition is part of SiteOne's strategy to expand its geographic coverage and service offerings, following its previous acquisition of Hedberg Supply. Both companies aim to provide superior value and service to customers in the green industry.

SiteOne Landscape Supply, Inc. (NYSE: SITE) is set to release its first quarter 2021 results on May 5, 2021, before market opening. A conference call will occur at 8:00 a.m. (ET) to discuss these results. Investors can access the live webcast via the Investor Relations section of the Company’s website. A telephonic replay of the call will be available shortly after, lasting until May 19, 2021.

SiteOne Landscape Supply (NYSE: SITE) announced the acquisition of Arizona Stone & Architectural Products and Solstice Stone, effective April 1, 2021. This acquisition adds nine locations across Arizona and Las Vegas, enhancing SiteOne's distribution of hardscapes and landscape supplies. Doug Black, CEO, emphasized the synergy between AZ Stone and Solstice's offerings and SiteOne's existing products. Bill Burke, founder of AZ Stone and Solstice, expressed enthusiasm for joining a national organization, highlighting the opportunities for employees. This is SiteOne's second acquisition in 2021.

SiteOne Landscape Supply reported strong financial results for Q4 and FY 2020, with net sales of $675.1 million for Q4, a 26% increase year-over-year, and $2.70 billion for the full year, up 15%. Organic Daily Sales grew 12% in Q4 and 8% for the year. Adjusted EBITDA surged 98% to $43.9 million in Q4, with a margin improvement to 6.5%. Net income rose to $11.5 million from $2.5 million in Q4, aided by higher sales and improved margins. The company anticipates mid-single digit Organic Daily Sales growth for 2021 and expects Adjusted EBITDA between $275 million and $292 million.

SiteOne Landscape Supply, Inc. (NYSE: SITE) has announced its acquisition of Lucky Landscape Supply, LLC, effective February 17, 2021. Located in Katy, TX, Lucky Landscape enhances SiteOne's presence in the Greater Houston area, marking the company’s fourth dedicated nursery branch in this market. Doug Black, Chairman and CEO, emphasized the strategic nature of this acquisition, which aims to enhance product and service offerings. The owners of Lucky Landscape expressed satisfaction with the partnership due to shared core values and culture.

SiteOne Landscape Supply, Inc. (NYSE: SITE) will release its fourth quarter and full year 2020 results on February 24, 2021, before market opening. A conference call is scheduled for 8:00 a.m. (ET) to discuss the results, available via webcast on the Investor Relations section of the Company's website. Interested parties can also access the call by phone. SiteOne is the leading national wholesale distributor of landscape supplies in the U.S., focusing on residential and commercial landscape professionals.