SiteOne Landscape Supply, Inc. operates as a leading wholesale distributor of landscaping provisions throughout the United States and Canada. The company maintains ...
SiteOne Landscape Supply, Inc. (NYSE: SITE) is the largest and only national wholesale distributor of landscaping products in the United States, with an expanding footprint in Canada. Founded in 2001 and headquartered in Roswell, Georgia, the company operates over 590 branches across 45 U.S. states and six Canadian provinces, employing ...SiteOne Landscape Supply, Inc. (NYSE: SITE) is the largest and only national wholesale distributor of landscaping products in the United States, with an expanding footprint in Canada. Founded in 2001 and headquartered in Roswell, Georgia, the company operates over 590 branches across 45 U.S. states and six Canadian provinces, employing more than 8,000 people. As of early 2022, SiteOne maintains an extensive inventory of approximately 135,000 SKUs, covering a wide range of categories including irrigation components (controllers, valves, sprinklers), turf and plant care (fertilizers, seeds, ice melt), pest and weed control (herbicides, fungicides), landscape accessories (mulches, drainage pipes, tools), nursery stock (shrubs, trees, perennials), hardscaping materials (pavers, natural stone), and outdoor lighting systems. The company also provides consultative services such as irrigation design, project planning, lead generation, and operational support, along with technical and business management seminars. It distributes proprietary brands like LESCO, SiteOne Green Tech, and Pro-Trade, as well as third-party products. Customer base includes landscape professionals, contractors, and golf course managers. Financially, SiteOne has a market cap around $4.5 billion, with a gross profit margin of 35.1% and an EBITDA margin of 8.2% (TTM). The company shows strong operational efficiency with an inventory turnover of 2.8 times and a current ratio of 2.3. It has a low debt-to-equity ratio of 0.063, reflecting a conservative capital structure. Under CEO Doug Black, who has led since 2014, SiteOne continues to expand through organic growth and acquisitions, aiming to strengthen its national leadership in the landscape supply industry. The company emphasizes digital tools and branch network to enhance customer experience and operational efficiency.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$4.7B
+3.6%
+62.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$151.8M
+22.8%
+623.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+34.8%
+1.2%
+8.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+5.1%
+19.5%
+568.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+3.2%
+18.5%
+421.6%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$246.8M
+3.4%
+193.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+5.2%
-0.2%
+157.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
59.1%
-2.4%
-91.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.47x
+2.3%
-1.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator : Greetings, and welcome to the SiteOne Landscape Supply Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Eric Elema, Chief Financial Officer. Thank you. You may begin.
Eric Elema : Thank you, and good morning, everyone. We issued our second quarter 2026 earnings press release this morning and posted a slide presentation to the Investor Relations portion of our website at investors.siteone.com. I am joined today by Doug Black, our Chairman and Chief Executive Officer; and Daniel Laughlin, SVP, Strategy and Development. Before we begin, I'd like to remind everyone that today's press release, slide presentation and the statements made during this call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. Such risks and uncertainties include the factors set forth in the earnings release and in our filings with the Securities and Exchange Commission. Additionally, during today's call, we will discuss non-GAAP measures which we believe can be useful in evaluating our performance. A reconciliation of these measures can be found in our earnings release and in the slide presentation. I would now like to turn the call over to Doug Black.
Doug Black : Thank you, Eric. Good morning, and thank you for joining us today. We delivered a solid second quarter performance with 5% growth in net sales and adjusted EBITDA, 8% growth in net income and strong cash flow despite softer end markets. Our teams executed well throughout the quarter, driving our commercial and operational initiatives while continuing to manage our SG&A spending tightly. We also took advantage of our strong cash flow and recent share price weakness and returned over $100 million to shareholders through our share repurchase program while maintaining a strong balance sheet to invest in our business and pursue attractive acquisition opportunities. While market conditions remain challenging, we continue to focus on serving our customers, gaining market share, expanding our EBITDA margin and strengthening the business to drive future performance and growth. Our acquisitions are performing well, and we have an active pipeline of opportunities, which we expect will result in more acquisitions during the remainder of the year. Overall, we remain confident in the long-term opportunity ahead of us and believe our strategy, competitive position and execution capabilities will continue to differentiate SiteOne in the market. I will start today's call with a brief overview of our unique market position and our strategy, followed by highlights from the second quarter. Eric will then walk you through our second quarter financial results in more detail and provide an update on our balance sheet and …
