SiteOne Landscape Supply Announces Third Quarter 2026 Earnings

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“We delivered a solid third quarter performance with 8% growth in Adjusted EBITDA and 60 basis points of Adjusted EBITDA margin expansion despite the continued softness in underlying market demand and a delayed fall season due to hot and dry weather in key markets.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“Our teams made good progress on our commercial and operational initiatives while maintaining disciplined cost control in the face of lower sales volume. We also completed one acquisition during the quarter and have a very active pipeline of potential deals. While we expect market conditions to be challenging in the near term, we remain focused on the opportunities within our control to gain market share, improve productivity, and strengthen our competitive position. These self-help opportunities combined with our acquisition strategy enable us to drive sustained performance and growth for our shareholders this year and in the years to come.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“Given our strong balance sheet, cash flow generation, and confidence in the long-term value we can create at SiteOne, we believe the $500 million increase in our share repurchase authorization enhances our ability to create value for shareholders.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“We remain focused on disciplined capital allocation, balancing opportunistic share repurchases with continued investment in organic growth and acquisitions to drive long-term growth and returns.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“Our end markets continue to be challenging with declines in new residential construction and repair and upgrade more than offsetting the more resilient maintenance and new commercial construction end markets.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“Pricing was up 4% in the quarter, and we expect this to continue through the remainder of the year. Note that our third quarter sales were affected by hot and dry weather in August and September which delayed the fall season. We are currently achieving positive Organic Daily Sales growth of approximately 2% in October, which we expect to yield Organic Daily Sales of flat to up 1% for the four-month period of July through October. Given the ongoing macroeconomic uncertainty, high interest rates, and inflation, we expect end-market softness to continue through the full year and with the negative impact of the 53(rd) week, we expect full-year Organic Daily Sales to be flat to down 1%.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“We expect to continue expanding Gross margin through price realization and execution of our commercial initiatives. We expect SG&A as a percentage of Net sales to be up for the full year as our operational initiatives partially offset the effect of lower sales volume, higher fuel and healthcare cost, and the negative effect of the extra week in December. We are managing SG&A tightly and making the necessary changes to optimize our cost structure. Accordingly, we plan to reduce our workforce and consolidate or close branches in the fourth quarter and incur a corresponding charge to Adjusted EBITDA of approximately $6 million to $8 million. Despite this charge and the negative effect of the 53(rd) week, we expect to expand Adjusted EBITDA margin slightly in 2026.”

Doug Black, Chairman and CEO of SiteOne Landscape Supply

“With all these factors in mind, we expect Adjusted EBITDA for fiscal year 2026 to be in the range of $425 million to $440 million.”