SiteOne Landscape reports Q2 EPS $2.86, consensus $2.93

Reports Q2 revenue $1.46B, consensus $1.47B. “We are pleased to report continued solid results in the second quarter with 3% Net sales growth and 8% growth in Adjusted EBITDA, despite softer end markets. We are executing our initiatives well, achieving excellent SG&A leverage, good gross margin improvement, and continuing to gain market share,” said Doug Black, SiteOne’s Chairman and CEO. “We expect our end markets to remain soft during the remainder of the year, but we should benefit from positive price inflation and will continue to benefit from the execution of our initiatives. Accordingly, we remain confident in our ability to successfully navigate through the market headwinds. We completed four acquisitions year-to-date and expect to continue adding companies to SiteOne during the remainder of the year. Overall, we are gaining momentum as a company and strengthening our capabilities despite the challenging economic conditions. With a leading market position, a winning strategy, and exceptional teams, we are confident that we can deliver superior value to our customers and suppliers and produce excellent returns for our shareholders in the coming years through organic growth, acquisition growth, and Adjusted EBITDA margin expansion.”