SiteOne Landscape Supply Earnings Call Transcripts
Fiscal Year 2026
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The company targets $7B-$8B in sales and $900M-$1B in EBITDA by 2030, aiming for a 13% EBITDA margin through organic growth, acquisitions, and operational improvements. Digital, private label, and focus branch initiatives are key drivers, with most margin expansion considered self-help. Management remains confident despite market uncertainties.
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Q1 2026 saw 14% Adjusted EBITDA growth and gross margin expansion despite flat sales, aided by strong pricing, digital sales, and operational initiatives. Acquisitions and private label growth supported results, while macro uncertainty and higher costs remain headwinds. Guidance calls for low single-digit organic sales growth and higher margins in 2026.
Fiscal Year 2025
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Delivered 4% net sales and 10% Adjusted EBITDA growth in 2025, with strong margin expansion and robust digital and private label gains. 2026 guidance calls for low single-digit organic growth, higher margins, and continued acquisition activity despite end market uncertainty.
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Q3 2025 saw 4% net sales growth, 11% adjusted EBITDA growth, and 33% higher net income, driven by market share gains, cost control, and improved pricing. Despite soft end markets, guidance calls for low single-digit organic sales growth and $405–$415 million in adjusted EBITDA for the year, including a charge for branch consolidations.
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Q2 2025 saw 3% net sales and 8% Adjusted EBITDA growth, driven by market share gains, SG&A leverage, and digital initiatives, despite soft end markets. Full-year Adjusted EBITDA is guided at $400–$430 million, with continued margin expansion expected.
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Q1 2025 saw 4% net sales growth and 6% adjusted EBITDA growth, driven by acquisitions and cost controls, despite weather challenges and flat organic sales. Full-year guidance anticipates low single-digit organic growth, stable gross margins, and $400–$430 million in adjusted EBITDA.
Fiscal Year 2024
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Organic daily sales improved sequentially in 2024, with 1% growth in Q4 despite price deflation. Adjusted EBITDA fell 8% for the year, but cost actions, branch rationalization, and acquisitions position the company for margin and earnings growth in 2025.
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Q3 2024 saw 6% net sales growth driven by acquisitions, but organic sales declined 1% due to price deflation. Adjusted EBITDA fell 4% and margin dropped to 9.5%. Full-year guidance anticipates continued headwinds, with adjusted EBITDA expected at $370–$380 million.
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Q2 2024 net sales grew 4% to $1.41B, with organic daily sales down 3% due to price deflation. Adjusted EBITDA was flat year-over-year, and acquisitions offset organic declines. Full-year guidance anticipates low single-digit organic sales decline, continued price deflation, and lower margins.
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Market share remains at 17% in a fragmented industry, with growth driven by acquisitions and organic initiatives. Q2 volume is down and price deflation persists, especially in commodities, while commercial demand holds steady. Margin improvement and digital investments are key priorities.