SiteOne Q1 net loss widens to $19.3M; adjusted EBITDA down 47% to $21.1M

SiteOne Landscape Supply, Inc.

2024-Q1 EPS reported -$0.43 revenue$904,800,000

Net sales +8% to $904.8M; organic daily sales +1%; gross margin -100 bps to 33.3%.
Net loss of $19.3M vs loss of $4.5M a year ago; adjusted EBITDA margin fell 250 bps to 2.3%.
Operating cash flow improved by $53.3M; net debt $508M; leverage unchanged at 1.3x.
Post-quarter closed two acquisitions: Eggemeyer and 75% stake in Devil Mountain Nursery.
FY2024 adjusted EBITDA guidance reaffirmed at $420M-$455M; expects low single-digit organic daily sales growth.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SiteOne Landscape Supply, Inc. reported first quarter ended March 31, 2024 results: revenue $904.8 million, net income $19.3 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $904.8 million
Net income: $19.3 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

99.1 May 1, 2024 SiteOne Landscape Supply Announces First Quarter 2024 Earnings First Quarter 2024 Highlights (Compared to First Quarter 2023): · Net sales increased 8% to $904.8 million · Organic Daily Sales increased 1% · Gross profit increased 5% to $301.2 million; gross margin contracted 100 basis points to 33.3% · SG&A as a percentage of Net sales increased

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Source: SEC EDGAR

accession 0001104659-24-055158

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