SiteOne Q3 net sales up 18% to $1.1B; raises FY Adj. EBITDA guidance to $455-470M

SiteOne Landscape Supply, Inc.

2022-Q3 EPS reported $5.38 revenue$3,124,500,000

Net income fell 8% to $73.3M; Adj. EBITDA up 6% to $135.6M; margin down 140bps to 12.3%.
Organic Daily Sales grew 12% driven by pricing; acquisitions contributed $56.6M (6%) to net sales.
Board approved $400M share repurchase authorization; ABL facility increased to $600M.
Raised FY2022 Adj. EBITDA guidance to $455-470M from prior $440-460M (10-13% growth).
Closed six acquisitions in Q3 and one post-quarter; gross margin fell 120bps to 35.2%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SiteOne Landscape Supply, Inc. updated its Fiscal 2022 guidance (raised).

Period: Fiscal 2022
Guidance: raised
Result: guidance update

Exact text from the filing

For Fiscal 2022, we now expect our Adjusted EBITDA to be in the range of $455 million to $470 million, which represents 10% to 13% growth over our exceptional Fiscal 2021 result.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SiteOne Landscape Supply, Inc. reported third quarter ended October 2, 2022 results: revenue $1.1 billion, net income $73.3 million.

Period: third quarter ended October 2, 2022
Revenue: $1.1 billion
Net income: $73.3 million
Result: reported results

Exact text from the filing

99.1 November 2, 2022 SiteOne Landscape Supply Announces Third Quarter 2022 Earnings Third Quarter 2022 Highlights (Compared to Third Quarter 2021): • Net sales increased 18% to $1.1 billion • Organic Daily Sales increased 12% • Gross profit increased 14% to $388.6 million; Gross margin was 35.2% • SG&A as a percentage of Net sales increased 110 basis points to 26.2%

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Source: SEC EDGAR

accession 0001104659-22-113693

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