SiteOne Landscape reports Q2 EPS $2.71, consensus $2.66

Reports Q2 revenue $1.35B, consensus $1.3B. “Our Q2 results were in line with our expectations as we delivered solid Organic Daily Sales growth which helped to mitigate the ongoing normalization of gross margin and EBITDA margin,” said Doug Black, SiteOne’s Chairman and CEO. “Our teams have continued to perform well in serving our customers, gaining market share, and successfully managing through the near-term commodity price deflation for select products. End market demand has been resilient which allowed us to achieve positive organic volume growth and strong growth in operating cash flow during the quarter. Finally, we completed two acquisitions during the quarter with one more completed in July. Overall, we are pleased with our first half performance and feel good about our outlook for the remainder of 2023. With strong teams, a robust acquisition pipeline, and a winning strategy to create significant value for our stakeholders, we are confident in our ability to continue delivering exceptional performance and growth in the years to come.”