News & Events zu SiteOne Landscape Supply Inc (SITE)SITESiteOne Landscape Supply Inc

SiteOne Q2 Revenue at $1.53B, Below Consensus

Reports Q2 revenue $1.53B, consensus $1.54B. "We delivered a solid second quarter performance with 5% growth in Net sales and Adjusted EBITDA despite softer end markets," said Doug Black, Chairman and CEO of SiteOne. "Our teams executed well throughout the quarter, managing through the market challenges, delivering value to our customers and suppliers, achieving operational improvements, and managing our spending to the reduced demand. Additionally, our acquisitions, led by Reinders, continue to perform well while our pipeline of additional deals remains active. We repurchased nearly $104 million of shares during the quarter and in July, reflecting the strength of our balance sheet, our belief in the business, and our commitment to shareholder returns. While market conditions remain challenging, we are confident in our 2026 outlook and our ability to continue executing our strategy to drive sustainable long-term performance and growth."

Doug Black: Expects Adjusted EBITDA of $425M to $455M for 2026

"Our end markets continue to be challenging and we estimate new residential construction is down high-single digits with repair and upgrade also down mid-single digits, more than offsetting modest growth in maintenance and flat new commercial construction," Doug Black continued. "Given the ongoing macroeconomic uncertainty, we expect these trends to continue through the full year. Pricing was up 3% in the quarter and we expect this also to continue through the remainder of the year. With the benefit of our commercial initiatives and price inflation, we expect Organic Daily Sales growth to be flat to up 1% for the full year. We expect to also expand our Gross margin through continued price realization and execution of our commercial initiatives. We expect SG&A as a percentage of Net sales to be approximately flat for the full year as our operational initiatives offset the effect of lower sales volume and the negative effect of the extra week in December. Overall, including contributions from acquisitions, we expect to continue expanding our Adjusted EBITDA margin in 2026. In fiscal year 2026, our results include an extra week compared to the prior year period. The extra week occurs in December of our fiscal fourth quarter during a historically slower sales period and, as a result, is expected to reduce Adjusted EBITDA for the year by approximately $4 million to $5 million. With all these factors in mind and including the negative effect of the 53rd week, we continue to expect Adjusted EBITDA for fiscal year 2026 to be in the range of $425 million to $455 million. Our guidance does not include any contributions from unannounced acquisitions."