SiteOne Landscape Supply accelerates sales growth in second quarter
Net sales rose 5% year-over-year to $1,530.7 million
SiteOne Landscape Supply (SITE) reported second-quarter net sales of $1,530.7 million, an increase of 5% compared to the same period last year.
The results marked an acceleration in growth for the wholesale distributor, as the 5% increase surpassed the 3% year-over-year growth reported in the second quarter of 2024. Organic daily sales also showed improvement, rising 1% year-over-year after remaining flat in the prior-year quarter.
Net income attributable to SiteOne rose 8% to $139.3 million. This growth followed a 7% increase in the second quarter of 2024. Adjusted EBITDA increased 5% to $237.2 million, though the adjusted EBITDA margin remained flat at 15.5%.
Gross margin expanded 50 basis points to 36.9%. This expansion was more pronounced than the 30 basis point increase to 36.4% seen in the second quarter of 2024. However, SG&A as a percentage of net sales rose 30 basis points to 24.2%, reversing a 40 basis point decrease recorded in the prior-year period.
Acquisitions contributed $49.2 million, or 3%, to net sales growth in the second quarter. During the period, the company acquired the remaining 25% interest in Devil Mountain Wholesale Nursery. Net debt rose to $555.6 million as of June 28, 2026, up from $531.6 million a year earlier.
SiteOne projects full-year 2026 organic daily sales growth to be flat to up 1%. The company set full-year 2026 adjusted EBITDA guidance between $425 million and $455 million, which includes a projected $4 million to $5 million reduction resulting from a 53rd week in December.