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Noticias de SITE
Eventos de SITE
SiteOne Reports Q3 Revenue of $1.29B, Below Consensus
Reports Q3 revenue $1.29B, consensus $1.3B. "We delivered a solid Q3 performance with 8% growth in Adjusted EBITDA and 60 basis points of Adjusted EBITDA margin expansion despite the continued softness in underlying market demand and a delayed fall season due to hot and dry weather in key markets," said Doug Black, Chairman and CEO of SiteOne. "Our teams made good progress on our commercial and operational initiatives while maintaining disciplined cost control in the face of lower sales volume. We also completed one acquisition during the quarter and have a very active pipeline of potential deals. While we expect market conditions to be challenging in the near term, we remain focused on the opportunities within our control to gain market share, improve productivity, and strengthen our competitive position. These self-help opportunities combined with our acquisition strategy enable us to drive sustained performance and growth for our shareholders this year and in the years to come."
CEO Doug Black Expects FY26 Adjusted EBITDA of $425M to $440M
"Our end markets continue to be challenging with declines in new residential construction and repair and upgrade more than offsetting the more resilient maintenance and new commercial construction end markets," said Doug Black, CEO. "Pricing was up 4% in the quarter, and we expect this to continue through the remainder of the year. Note that our Q3 sales were affected by hot and dry weather in August and September which delayed the fall season. We are currently achieving positive Organic Daily Sales growth of approximately 2% in October, which we expect to yield Organic Daily Sales of flat to up 1% for the four-month period of July through October. Given the ongoing macroeconomic uncertainty, high interest rates, and inflation, we expect end-market softness to continue through the full year and with the negative impact of the 53rd week, we expect full-year Organic Daily Sales to be flat to down 1%. We expect to continue expanding Gross margin through price realization and execution of our commercial initiatives. We expect SG&A as a percentage of Net sales to be up for the full year as our operational initiatives partially offset the effect of lower sales volume, higher fuel and healthcare cost, and the negative effect of the extra week in December. We are managing SG&A tightly and making the necessary changes to optimize our cost structure. Accordingly, we plan to reduce our workforce and consolidate or close branches in the fourth quarter and incur a corresponding charge to Adjusted EBITDA of approximately $6M-$8M. Despite this charge and the negative effect of the 53rd week, we expect to expand Adjusted EBITDA margin slightly in 2026. As a reminder, in FY26, the 53rd week occurs in December of our fiscal fourth quarter during a historically slower sales period and, as a result, is expected to reduce full-year Organic Daily Sales growth by approximately 80 basis points and Adjusted EBITDA by approximately $4M-$5M. With all these factors in mind, we expect Adjusted EBITDA for FY26 to be in the range of $425M-$440M."
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."
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."
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