SiteOne Landscape Supply reported second-quarter 2026 results with net sales of $1,530.7 million and net income attributable to the company of $139.3 million. Adjusted EBITDA was $237.2 million and gross profit reached $564.5 million with a 36.9% gross margin. Management cited 1% organic daily sales growth, continued commercial initiatives and active M&A while repurchasing about $104 million of shares post-quarter.

Financial Highlights

  • Net sales: $1,530.7 million for Q2 2026 (up 5% year-over-year).
  • Gross profit: $564.5 million; gross margin 36.9%, up 50 basis points versus prior year.
  • Operating income: $197.6 million for the quarter.
  • Net income attributable to SiteOne: $139.3 million (up 8% year-over-year).
  • Adjusted EBITDA: $237.2 million; Adjusted EBITDA margin 15.5% (increase of 5% in dollars, margin flat year-over-year).

Business Highlights

  • Organic Daily Sales increased 1%, driven primarily by price realization and commercial initiatives despite softer demand in new residential construction and repair & upgrade end markets.
  • Acquisitions contributed $49.2 million (3% of net sales) in the quarter; company acquired the remaining 25% interest in Devil Mountain Wholesale Nursery.
  • Amended asset-based lending facility and extended maturity to April 2031, with $443.0 million available capacity under the ABL as of June 28, 2026.
  • Share repurchases: repurchased $93.8 million of shares during the quarter and an additional $10.0 million post-quarter, reflecting continued share repurchase activity.
  • Inventory and working capital trends: inventory increased to $1,092.5 million and accounts receivable rose to $672.0 million as of June 28, 2026, supporting sales and acquisition integration.

Original SEC Filing:

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