---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-086536"
form_type: "8-K"
ticker: "SITE"
cik: "0001650729"
company_name: "SiteOne Landscape Supply, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T13:50:24.760387+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SiteOne Q2 net income down 12% to $124M; sales up 11% to $1.35B

## Summary
- Net sales $1.35B (+11% YoY); organic daily sales +4% on volume growth; acquisitions contributed 7%.
- Gross margin 36.2% (-170 bps); SG&A 23.7% of sales (+130 bps) from acquisitions and inflation.
- Net income $124M (-12% from $140.7M); adjusted EBITDA $211.2M (-5%); margin 15.6% (-260 bps).
- Operating cash flow $253.8M (+$159.1M YoY); net debt $385.4M; net debt/Adjusted EBITDA 0.9x.
- FY2023 adjusted EBITDA guidance $400M-$425M; closed two acquisitions in Q2, one post-quarter.

## SEC filing metadata
- accession: 0001104659-23-086536
- form_type: 8-K
- ticker: SITE
- cik: 0001650729
- company_name: SiteOne Landscape Supply, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650729/000110465923086536/0001104659-23-086536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650729/000110465923086536/tm2322317d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-086536
- JSON: https://secwatch.observer/filing/0001104659-23-086536.json
- Plain text: https://secwatch.observer/filing/0001104659-23-086536.txt

## Key facts
- Earnings Releases
  SiteOne Landscape Supply, Inc. reported second quarter ended July 2, 2023 results: revenue $1.35 billion, net income $124.0 million. Guidance reaffirmed.
  - Period: second quarter ended July 2, 2023
  - Revenue: $1.35 billion
  - Net income: $124.0 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: August 2, 2023 SiteOne Landscape Supply Announces Second Quarter 2023 Earnings Second Quarter 2023 Highlights (Compared to Second Quarter 2022): • Net sales increased 11% to $1.35 billion • Organic Daily Sales increased 4% • Gross profit increased 6% to $489.4 million; gross margin contracted 170 basis points to 36.2% • SG&A as a percentage of Net sales increased
  evidence_url: https://www.sec.gov/Archives/edgar/data/1650729/000110465923086536/0001104659-23-086536-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.