SiteOne Q2 trend update: organic daily sales down ~4-5% YoY; volumes declining

SiteOne Landscape Supply, Inc.

Q1 2024 organic daily sales up 1% YoY; Q2 trend (through early June) down ~4-5% YoY.
Price deflation persists at ~3-4% in Q2; volumes turning negative (-1%) after +5% in Q1.
Adjusted EBITDA for 2023 was $410.7M (11.6% margin), down from $464.3M in 2022.
Management taking actions: reduce SG&A, execute Pioneer turnaround, continue accretive acquisitions.
SiteOne holds 17% share in ~$25B market with over 690 branches across 45 U.S. states and Canada.

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