SITE · SiteOne Landscape Supply, Inc.

SiteOne Landscape Supply delivered Q1 2026 results with net sales nearly flat at $940.1 million, up just $0.7 million YoY, as a 1% decline in Organic Daily Sales from unfavorable weather offset $12.4 million in acquisition contributions. Gross profit rose 3% to $318.8 million, with margin expansion of 90 basis points to 33.9% driven by higher price realization and commercial initiatives, despite freight costs and commodity deflation. SG&A increased to $349.9 million, or 37.2% of sales (up 70 bps), but base business SG&A was flat adjusted, reflecting tight cost management amid lower volumes. Net loss improved slightly to $26.6 million from $27.3 million, while Adjusted EBITDA grew 14% to $25.5 million with a 30 bps margin gain to 2.7%. CEO Doug Black highlighted execution on commercial and operational initiatives enabling market share gains and margin expansion, plus the strategic acquisitions of Bourget Flagstone and Reinders. Balance sheet remains solid with $84.0 million cash, $418.1 million ABL availability, and net debt at $584.5 million (1.4x LTM Adjusted EBITDA). Post-quarter, amended ABL facility extends maturity to April 2031. For FY2026, management guides low single-digit Organic Daily Sales growth via flat volumes and 2-3% pricing, with gross margin expansion from private label and small customers, SG&A leverage, and overall Adjusted EBITDA of $425-455 million despite a $4-5 million drag from the 53rd week. Guidance excludes unannounced M&A and reflects softer end-market demand offset by strategic execution.