secwatch.observer — SEC 8-K summary
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Issuer:     SiteOne Landscape Supply, Inc. (SITE)
CIK:        0001650729
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001104659-23-086536
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650729/000110465923086536/0001104659-23-086536-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650729/000110465923086536/tm2322317d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-086536

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