SiteOne Landscape ( (SITE) ) has released its Q4 earnings. Here is a breakdown of the information SiteOne Landscape presented to its investors.
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SiteOne Landscape Supply, Inc., the largest national wholesale distributor of landscape supplies in the U.S., also with a growing presence in Canada, serves residential and commercial landscape professionals in design, installation, and maintenance of outdoor spaces.
SiteOne Landscape Supply reported its financial results for the fourth quarter and full year of 2024, highlighting a modest increase in net sales and strategic acquisitions despite facing challenges like commodity price deflation. The company closed two acquisitions in the fourth quarter and seven for the full year, contributing significantly to its sales growth.
In the fourth quarter, SiteOne’s net sales increased by 5% to $1.01 billion, driven by acquisitions and a slight organic daily sales growth of 1%. However, they reported a net loss attributable to SiteOne of $21.7 million due to increased SG&A expenses and decreased margins. For the full year 2024, net sales rose 6% to $4.54 billion, although organic daily sales saw a slight decline. The company’s adjusted EBITDA decreased by 8% to $378.2 million, reflecting the challenges faced throughout the year.
Looking ahead, SiteOne’s management anticipates a more balanced operating environment in 2025 with expectations of low single-digit organic daily sales growth. Despite ongoing commodity price deflation, the company aims to leverage strategic initiatives and operational efficiencies to improve EBITDA margins, driven by a robust acquisition pipeline and strong market positioning.
