SiteOne Landscape sees FY24 adjusted EBITDA $380M-$400M

“Our maintenance and new construction markets remain resilient, but we are continuing to experience soft demand driven primarily by a weaker repair and remodel end market. Additionally, pricing continues to have a negative impact on our growth due to the ongoing deflation in commodities like PVC pipe and grass seed. We now expect those trends to continue throughout the second half of 2024. Our teams are executing our commercial and operational initiatives well, and we expect to continue outperforming the market with a low single digit Organic Daily Sales decline for the remainder of the year,” CEO Doug Black said. “With the benefit of acquisitions, we expect overall sales growth to be positive in the second half of 2024 but with a lower adjusted EBITDA margin than last year.”