SiteOne Landscape Supply (SITE) Reports Q2 Loss of $3.18/Share
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SiteOne Landscape Supply Announces Second Quarter 2016 Earnings
August 17, 2016 6:00 AM EDTSecond Quarter 2016 Highlights:
Completed $241.5 million Initial Public Offering Net sales increased by 7% year-over-year to $513.4 million Organic sales declined by 2% reflecting pull-forward from first quarter 2016 Gross profit increased by 14% to $168.5 million; gross margin expanded by 220 basis points to 32.8% Net income of $26.9 million includes $7.4 million of IPO and debt recapitalization costs Adjusted EBITDA increased by 12% to $74.9 million; Adjusted EBITDA margin expanded by 80 basis points to 14.6% Completed the acquisition of Blue Max Materials which includes 5... More