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SiteOne Landscape Supply Announces First Quarter 2026 Earnings

SITE
  • SiteOne Landscape Supply reported first quarter 2026 net sales of $940.1 million, an increase of $0.7 million compared to $939.4 million in the prior year period.
  • Organic Daily Sales decreased 1% primarily due to unfavorable weather conditions that lowered sales volumes, despite positive pricing.
  • Gross profit rose 3% to $318.8 million, with gross margin improving 90 basis points to 33.9% driven by higher price realization & commercial initiatives.
  • Selling, general & administrative expenses increased to $349.9 million, representing 37.2% of net sales, a 70 basis point increase due to lower organic sales.
  • Net loss attributable to SiteOne was $26.6 million for the quarter, compared to $27.3 million in the prior year period.
  • Adjusted EBITDA increased 14% to $25.5 million, with the Adjusted EBITDA margin improving 30 basis points to 2.7%.
  • The company closed acquisitions of Bourget Flagstone & Reinders, which contributed $12.4 million to net sales growth.
  • SiteOne repurchased $20.0 million of shares under its authorization & amended its ABL facility to extend maturity to April 2031.
  • Cash used in operating activities decreased $7.5 million to $122.1 million, while cash & cash equivalents ended the quarter at $84.0 million.
  • Net debt stood at $584.5 million as of March 29, 2026, resulting in a net debt to Adjusted EBITDA ratio of 1.4 times.
  • For the full fiscal year 2026, the company expects Adjusted EBITDA between $425 million & $455 million, noting a negative impact of approximately $4 million to $5 million from an extra week in December.
  • Management anticipates flat sales volume & low single-digit Organic Daily Sales growth for 2026, while expecting gross margin expansion through price realization & private label products.