Q1 2026 SiteOne Landscape Supply Inc Earnings Call Transcript
Key Points
- SiteOne Landscape Supply Inc (SITE) achieved a 14% growth in adjusted EBITDA for the first quarter of 2026, demonstrating strong financial performance despite market challenges.
- The company successfully acquired Reinders, a market leader in irrigation, agronomics, and landscape lighting, which is expected to contribute positively to growth.
- SiteOne Landscape Supply Inc (SITE) expanded its gross margin by 90 basis points to 33.9%, driven by effective price realization and commercial initiatives.
- The company increased its digital sales by over 60% in the first quarter, indicating strong growth in its digital engagement with customers.
- SiteOne Landscape Supply Inc (SITE) maintained a strong acquisition pipeline, completing two acquisitions in the first quarter and adding approximately $110 million in trailing 12-month sales.
- The company experienced a 4% decline in organic sales volume for the quarter, attributed to adverse weather conditions and macroeconomic uncertainties.
- SG&A expenses as a percentage of net sales increased by 70 basis points to 37.2%, primarily due to the decline in organic daily sales.
- SiteOne Landscape Supply Inc (SITE) reported a net loss of $26.6 million for the first quarter, reflecting higher SG&A expenses despite increased gross profit.
- The company anticipates continued softness in the new residential construction market, which comprises 20% of its sales, potentially impacting overall growth.
- Higher freight and logistics costs are expected to partially offset gross margin improvements, posing a challenge to maintaining profitability.
Greetings, and welcome to SiteOne Landscape Supply first-qeuarter 2026 earnings call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Eric Elema, Chief Financial Officer. Thank you. You may begin.
Thank you, and good morning, everyone. We issued our first quarter 2026 earnings press release this morning and posted a slide presentation to the Investor Relations portion of our website at investors.siteone.com. I am joined today by Doug Black, our Chairman and Chief Executive Officer; and Daniel Lafon, SVP, Strategy and Development. Before we begin, I would like to remind everyone that today's press release, slide presentation and the statements made during this call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are subject to risks and uncertainties that could cause actual results to differ
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