SiteOne(SITE) - 2026 Q1 - Quarterly Results

Financial Performance - Net sales for Q1 2025 increased by 4% to $939.4 million compared to$ 904.8 million in Q1 2024[4] - Net sales for the first quarter of 2025 increased to $939.4 million, up from$ 904.8 million in the same period of 2024, representing a growth of approximately 3.9%[26] - Organic sales for Q1 2025 were reported at $894.3 million, while acquisition contributions added$ 45.1 million to net sales[34] - Gross profit increased by 3% to $309.8 million, with gross margin contracting by 30 basis points to 33.0%[5] - Adjusted EBITDA increased by 6% to$ 22.4 million, with an Adjusted EBITDA margin improvement of 10 basis points to 2.4%[9] - The adjusted EBITDA for Q1 2025 was $22.4 million, compared to$ 21.1 million in Q1 2024, showing a slight improvement[30] Expenses and Losses - SG&A expenses rose to $343.2 million, with SG&A as a percentage of net sales increasing by 30 basis points to 36.5%[6] - The company incurred$ 343.2 million in selling, general and administrative expenses in Q1 2025, an increase from $327.7 million in Q1 2024[26] - Net loss attributable to SiteOne was$ 27.3 million, compared to $19.3 million in the prior year period[7] - The company reported a net loss of$ 27.5 million for Q1 2025, compared to a net loss of $19.3 million in Q1 2024, indicating a deterioration in profitability[26] Assets and Liabilities - Total current assets rose to$ 1,747.0 million as of March 30, 2025, compared to $1,549.6 million at the end of 2024, reflecting an increase of 12.8%[24] - The company's total liabilities increased to$ 1,688.2 million as of March 30, 2025, up from $1,478.9 million at the end of 2024, marking a rise of 14.2%[24] - Cash and cash equivalents decreased to$ 56.6 million at the end of Q1 2025, down from $107.1 million at the end of 2024, a decline of 47.2%[27] - Inventory levels increased significantly to$ 1,032.1 million as of March 30, 2025, compared to $827.2 million at the end of 2024, reflecting a rise of 24.8%[24] Future Outlook - The company expects full-year Adjusted EBITDA to be in the range of$ 400 million to $430 million for 2025[11] - The company anticipates low single-digit Organic Daily Sales growth for the full year 2025[11] Acquisitions - The acquisition of Green Trade Nursery was completed during the quarter, contributing to growth[2] Sales Trends - Organic Daily Sales decreased by 1% due to a later start to the spring selling season and lower prices for commodity products[4]