SiteOne Landscape Supply (SITE) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 rose 4% year-over-year to $1,258.2 million, with organic daily sales up 3% and adjusted EBITDA up 11% to $127.5 million; net income attributable to shareholders increased 33% to $59.1 million, driven by sales initiatives, improved pricing, and acquisitions.

• Gross profit increased 6% to $437.2 million, with gross margin up 70 basis points to 34.7%.

• SG&A as a percentage of net sales decreased 50 basis points to 28.4%, reflecting productivity gains and cost alignment.

• Six acquisitions completed year-to-date, expanding product lines and geographic reach.

• Share repurchases totaled $78 million year-to-date, with 656,000 shares repurchased at an average price of $118.

Financial highlights

• Q3 net sales: $1,258.2 million (+4% YoY); gross profit: $437.2 million (+6% YoY); gross margin: 34.7% (+70 bps YoY).

• Adjusted EBITDA: $127.5 million (+11% YoY); margin: 10.1% (+60 bps YoY).

• Net income attributable to shareholders: $59.1 million (+33% YoY); diluted EPS: $1.31.

• Working capital at quarter-end: $1.06 billion; net debt: $422.5 million; net debt to adjusted EBITDA: 1.0x.

• Cash provided by operating activities: $128.6 million; available liquidity: $685 million.

Outlook and guidance

• End-market demand in new residential construction and repair/upgrade expected to remain soft, with maintenance market growing modestly and commercial construction flat.

• Pricing expected to rise 1–2% in Q4 and normalize to 1–3% in 2026.

• Forecast low single-digit organic daily sales growth for Q4 2025.

• Full-year adjusted EBITDA guidance set at $405–$415 million, including a $4–$6 million charge for branch consolidations.

• Management remains focused on organic growth, acquisitions, margin expansion, and disciplined cost control.