Highlights

  • Net sales for the second quarter of 2026 were $1,530.7 million, and net income attributable to SiteOne was $139.3 million.
  • Diluted EPS was $3.14 in the second quarter of 2026, compared with $2.86 in the second quarter of 2025.
  • Management said it expects full-year 2026 Adjusted EBITDA of $425 million to $455 million, including a 53rd week.
  • The company repurchased 952,216 shares for approximately $113.8 million in the first six months of 2026.

SiteOne (NYSE: SITE) shares were trading at USD 101.42 on October 27, 2026, down 0.09%, with a relative volume at time of 2.16. The landscape supply distributor acquired Reinders, Inc. in March 2026, amended its ABL credit agreement on April 22, 2026, and filed its quarterly report on Form 10-Q for the quarter ended June 28, 2026 on July 29, 2026.

SiteOne Landscape Supply, Inc. is a Delaware corporation with principal executive offices at 300 Colonial Center Parkway, Roswell, Georgia. It describes itself as the largest and only national full product line wholesale distributor of landscape supplies in the United States, with an established presence in Canada. Its customers are primarily residential and commercial landscape professionals. As of June 28, 2026, it had over 680 branch locations in 45 U.S. states and five Canadian provinces and offered approximately 180,000 SKUs. Its fiscal year is a 52- or 53-week period ending on the Sunday nearest to December 31, and the 2026 Fiscal Year includes 53 weeks.

Second Quarter 2026 Results

Net sales were $1,530.7 million for the three months ended June 28, 2026, compared with $1,461.6 million a year earlier, an increase of 5%. The company attributed the increase primarily to acquisitions. Organic Daily Sales, a non-GAAP measure, increased 1%, with price contribution of approximately 3% partially offset by softer end market demand.

Gross profit was $564.5 million, and gross margin was 36.9%, compared with 36.4%. Selling, general and administrative expenses were $370.7 million, or 24.2% of net sales, compared with $349.1 million, or 23.9%. Operating income was $197.6 million. Net income was $139.3 million, compared with $132.1 million. Net income attributable to SiteOne was $139.3 million, or $3.16 per basic share and $3.14 per diluted share, compared with $129.0 million, or $2.88 and $2.86. Adjusted EBITDA, a non-GAAP measure, was $237.2 million, compared with $226.7 million.

For the six months ended June 28, 2026, net sales were $2,470.8 million, and net income attributable to SiteOne was $112.7 million, or $2.53 per diluted share, compared with $101.7 million, or $2.25.

Balance Sheet, Cash Flow and Capital Return

At June 28, 2026, the company had cash and cash equivalents of $87.4 million, total gross long-term debt of $510.9 million and finance lease obligations of $137.3 million. Borrowing base capacity under the ABL Facility was $443.0 million, after $124.1 million of revolving credit loans and $32.9 million of outstanding letters of credit.

Net cash provided by operating activities was $31.1 million for the six months, net cash used in investing activities was $116.5 million, and net cash used in financing activities was $17.2 million. Under its $400.0 million repurchase authorization, the company repurchased 952,216 shares for approximately $113.8 million at an average price of $119.46 during the six months, and 100,692 shares for approximately $10.0 million in July 2026. The remaining amount was $90.5 million.

Acquisitions and Market Conditions

The company completed acquisitions for an aggregate purchase price of $76.1 million in the six months, including Reinders, Inc. and Bourget Flagstone. On June 1, 2026, it acquired the remaining 25% interest in Devil Mountain.

The company said the second quarter continued to present challenges from economic uncertainty and softer consumer sentiment, and that its new residential construction end market softened during the quarter. It stated that it anticipates sustained pressure on net sales growth and net income for the foreseeable future, and that prices are projected to increase approximately 3% for the 2026 Fiscal Year.

Outlook

On the earnings call, management said it expects full-year 2026 Adjusted EBITDA of $425 million to $455 million, including a negative impact of $4 million to $5 million from the extra 53rd week. It said it expects new residential construction to be down high single digits for the full year and maintenance demand to grow modestly in 2026.