SiteOne Landscape Supply (SITE) Tops Q3 EPS by 49c

SiteOne Landscape Supply (NYSE: SITE) reported Q3 EPS of $1.74, $0.49 better than the analyst estimate of $1.25. Revenue for the quarter came in at $936.4 million versus the consensus estimate of $905.63 million.

Outlook:

“Organic sales growth has continued to be strong in October with elevated inflation and favorable market trends across all residential and commercial segments. Our customers are very busy with robust backlogs although they remained constrained by the tight labor market. Given these trends, we now expect organic sales growth to remain healthy through the end of the year,” Doug Black continued. “We also expect Adjusted EBITDA for 2021 to be in the range of $380 million to $400 million, representing year-over-year growth of 46% to 54%. This compares to our prior expectation for Adjusted EBITDA of $335 million to $365 million. This guidance does not include any contribution from unannounced acquisitions.”

Reconciliation for the forward-looking full-year 2021 Adjusted EBITDA outlook is not being provided, as the Company does not currently have sufficient data to accurately estimate the variables and individual adjustments for such reconciliation.

For earnings history and earnings-related data on SiteOne Landscape Supply (SITE) click here.

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