SiteOne Landscape Supply (SITE) Misses Q2 EPS by 3c; Revenue Beats

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Go back to SiteOne Landscape Supply (SITE) Misses Q2 EPS by 3c; Revenue Beats

SiteOne Landscape Supply Announces Second Quarter 2023 Earnings

August 2, 2023 6:00 AM EDT

Second Quarter 2023 Highlights (Compared to Second Quarter 2022):

Net sales increased 11% to $1.35 billion Organic Daily Sales increased 4% Gross profit increased 6% to $489.4 million; gross margin contracted 170 basis points to 36.2% SG&A as a percentage of Net sales increased 130 basis points to 23.7% Net income decreased 12% to $124.0 million Adjusted EBITDA decreased 5% to $211.2 million; Adjusted EBITDA margin was 15.6% Operating cash flow increased $159.1 million to $253.8 million Closed two acquisitions: Adams Wholesale Supply and Link Outdoor Lighting

Post-Quarter Highlights

Closed one acquisition: Hickory Hill Farm &... More