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Mar 30, 2025
SiteOne Q1 2025 Earnings Report
Reported earnings for the first quarter ended March 30, 2025
Key Takeaways
SiteOne Landscape Supply reported a solid start to 2025 with a 4% increase in total sales and a 6% growth in Adjusted EBITDA for the first quarter. Despite a 1% decline in Organic Daily Sales due to a later spring selling season and lower commodity prices, the company achieved good SG&A leverage in its base business and continued its acquisition strategy.
Net sales increased by 4% to $939.4 million in Q1 2025 compared to $904.8 million in Q1 2024.
Organic Daily Sales decreased by 1% in Q1 2025 due to a later spring, lower commodity prices, and a softer repair and remodel market.
Adjusted EBITDA increased by 6% to $22.4 million in Q1 2025, with Adjusted EBITDA margin improving by 10 basis points to 2.4%.
Net loss attributable to SiteOne was $27.3 million in Q1 2025, compared to $19.3 million in Q1 2024, primarily due to higher SG&A expenses.
Forward Guidance
For the full year 2025, SiteOne expects overall demand to be flat to slightly down, with low single-digit Organic Daily Sales growth. The company anticipates increasing Adjusted EBITDA margin and projects full-year Adjusted EBITDA to be between $400 million and $430 million.
Positive Outlook
- Expect low single-digit Organic Daily Sales growth for the full year.
- Anticipate increasing Adjusted EBITDA margin in 2025.
- Full year Adjusted EBITDA expected between $400 million and $430 million.
- Solid growth expected in the maintenance end market (35% of business).
- Commercial initiatives expected to drive positive sales volume.
Challenges Ahead
- Potential impact of ongoing uncertainty related to tariffs, inflation, and interest rates on consumer confidence and end market demand.
- Expect overall demand to be flat to slightly down.
- Continued soft repair and upgrade demand expected.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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