SiteOne(US:SITE)2025-10-29 10:01Financial Performance - Net sales for Q3 2025 increased to $1,258.2 million, a 4% rise compared to $1,208.8 million in Q3 2024[4] - Gross profit increased by 6% to $437.2 million, with gross margin improving by 70 basis points to 34.7%[5] - Net income attributable to SiteOne rose by 33% to $59.1 million, up from $44.4 million in the prior year[8] - Adjusted EBITDA for Q3 2025 increased by 11% to $127.5 million, with an Adjusted EBITDA margin improvement of 60 basis points to 10.1%[8] - Net sales for the three months ended September 28, 2025, were $1,258.2 million, an increase from $1,208.8 million for the same period in 2024, representing a growth of 4.1%[25] - Gross profit for the nine months ended September 28, 2025, was $1,278.4 million, compared to $1,222.5 million for the same period in 2024, reflecting an increase of 4.6%[25] - Net income attributable to SiteOne for the three months ended September 28, 2025, was $59.1 million, up from $44.4 million in the same period of 2024, marking a growth of 33.5%[25] - Operating income for the nine months ended September 28, 2025, was $243.1 million, compared to $217.2 million for the same period in 2024, an increase of 11.9%[25] - Basic net income per common share for the three months ended September 28, 2025, was $1.32, compared to $0.98 for the same period in 2024, reflecting a growth of 34.7%[25] Acquisitions and Growth - The company completed six acquisitions year-to-date, contributing $12.5 million, or 1%, to net sales growth[4] - The company made acquisitions totaling $18.4 million during the nine months ended September 28, 2025, compared to $110.4 million in the same period of 2024[27] - The contribution from acquisitions to net sales in Q3 2025 was $54.4 million, compared to $67.6 million in Q2 2025[32] Debt and Cash Management - Net debt decreased to $422.5 million from $449.3 million year-over-year, with a net debt to Adjusted EBITDA ratio of 1.0 times[9] - Cash and cash equivalents at the end of the period were $106.9 million, slightly down from $107.1 million at the end of December 29, 2024[23] - The company reported a net cash provided by operating activities of $135.7 million for the nine months ended September 28, 2025, down from $164.0 million for the same period in 2024[27] Sales and Market Outlook - Organic Daily Sales grew by 3% year-over-year, driven by sales initiatives and improved pricing[4] - The outlook for Q4 2025 anticipates low single-digit Organic Daily Sales growth, with pricing expected to rise by 1% to 2%[11] Expenses and Financial Ratios - SG&A expenses as a percentage of net sales decreased by 50 basis points to 28.4%[6] - Interest expense for Q3 2025 was $9.1 million, slightly lower than $10.3 million in Q2 2025[29] - Depreciation and amortization expenses remained stable at approximately $35.4 million for both Q3 and Q2 2025[29] - The company reported a tax expense of $15.5 million in Q3 2025, down from $45.0 million in Q2 2025[29] Future Plans - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[34]