SiteOne Landscape Supply (SITE) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 rose 5% year-over-year to $1,530.7 million, with organic daily sales up 1% and growth driven by acquisitions and price increases despite softer end markets.

• Gross profit increased 6% to $564.5 million, with gross margin expanding by 50 basis points to 36.9%.

• Net income attributable to shareholders grew 8% to $139.3 million, aided by improved gross margin.

• Adjusted EBITDA increased 5% to $237.2 million, with margin steady at 15.5%.

• Share repurchases totaled up to $124 million YTD, including $103.8–$104 million during and after the quarter, and the company acquired the remaining 25% of Devil Mountain Wholesale Nursery.

Financial highlights

• Net sales: $1,530.7 million (+5% YoY); organic daily sales up 1%, acquisitions contributed 3%.

• Gross profit: $564.5 million (+6% YoY); gross margin: 36.9% (+50 bps YoY).

• Net income: $139.3 million (+8% YoY); diluted EPS for Q2 2026 was $3.14–$3.16.

• Adjusted EBITDA: $237.2 million (+5% YoY); margin steady at 15.5%.

• SG&A as a percent of sales up 30 bps to 24.2%, mainly due to higher fuel and healthcare costs.

Outlook and guidance

• Full-year organic daily sales expected flat to up 1%, with pricing contributing ~3%.

• Adjusted EBITDA guidance for 2026 set at $425–$455 million, including a $4–$5 million negative impact from a 53rd week.

• Gross margin expected to improve in 2026; SG&A as a percent of sales to remain flat.

• End market demand projected down for the year, with new residential and R&R weak, maintenance modestly up, and new commercial construction flat.

• Management anticipates continued pressure on net sales growth and net income due to economic uncertainty and higher interest rates.