SiteOne(US:SITE)2026-02-11 11:02Financial Performance - Fourth Quarter 2025 net sales increased 3% to $1.05 billion, with Organic Daily Sales up 2%[5] - Full Year 2025 net sales rose 4% to $4.70 billion, with Organic Daily Sales increasing 1%[10] - Fourth Quarter 2025 gross profit increased 6% to $356.8 million, with gross margin improving 80 basis points to 34.1%[7] - Full Year 2025 adjusted EBITDA increased 10% to $414.2 million, with adjusted EBITDA margin improving 50 basis points to 8.8%[14] - Net income attributable to SiteOne for Fiscal 2025 increased 23% to $151.8 million[13] - For the quarter ending December 28, 2025, net sales were $1,045.6 million, a 3.4% increase from $1,013.1 million in the same quarter of the previous year[30] - Gross profit for the same quarter was $356.8 million, compared to $337.6 million in the prior year, reflecting a gross margin improvement[30] - Net income attributable to SiteOne for the year was $151.8 million, up from $123.6 million in the previous year, indicating a year-over-year growth of 22.8%[30] - The company reported a basic net income per share of $3.39 for the year, compared to $2.73 in the previous year, representing a 24.2% increase[30] - Net income for the year 2025 was $157.4 million, an increase from $124.4 million in 2024[32] Cash Flow and Liquidity - Cash provided by operating activities for Fiscal 2025 increased $17.1 million to $300.5 million[14] - Cash and cash equivalents increased to $190.6 million as of December 28, 2025, compared to $107.1 million a year earlier, showing improved liquidity[28] - Net cash provided by operating activities for 2025 was $300.5 million, compared to $283.4 million in 2024[32] - Cash and cash equivalents at the end of 2025 were $190.6 million, up from $107.1 million at the end of 2024[32] - The company had borrowings under asset-based credit facilities of $320.6 million in 2025, compared to $381.9 million in 2024[32] - The effect of exchange rate on cash resulted in a gain of $1.0 million in 2025[32] Acquisitions and Growth - The company closed eight acquisitions during Fiscal 2025, contributing approximately $55 million in trailing twelve months net sales[5] - Acquisition contribution to net sales in 2025 was $220.5 million, with Q4 contribution at $53.4 million[39] - Acquisition contribution for the 2026 Fiscal Year is estimated at $12.5 million, with Q4 contribution at $6.6 million[42] Future Projections - For Fiscal 2026, adjusted EBITDA is expected to be in the range of $425 million to $455 million, excluding contributions from unannounced acquisitions[18] - The company anticipates overall prices to increase by 1% to 3% in 2026, with low single-digit Organic Daily Sales growth expected[17] - For the 2026 Fiscal Year, Reported Net sales are projected to remain at $4,704.8 million[42] - Organic sales for the 2026 Fiscal Year are expected to be $4,692.3 million, with Q4 organic sales projected at $1,039.0 million[42] - Selling Days for 2026 Q4 are projected to be 256, compared to 252 in 2025[42] - Organic Daily Sales for Q4 2026 are projected to be $18.6 million, an increase from $17.6 million in Q4 2025[42] Operational Efficiency - Adjusted EBITDA is used to evaluate the operating performance and efficiency of the business, but it is not a measure of liquidity or financial performance under U.S. GAAP[25] - Operating income for the quarter was a loss of $5.0 million, an improvement from a loss of $24.9 million in the same quarter last year[30] - Total assets grew to $3,219.6 million from $3,070.8 million year-over-year, indicating a 4.8% increase[28] - Total liabilities increased to $1,536.4 million from $1,478.9 million, reflecting a 3.9% rise[28] - Stock-based compensation for 2025 was $27.0 million, compared to $25.0 million in 2024[35] - The company reported a loss of $7.8 million in Q4 2025, contrasting with a net income of $60.6 million in Q3 2025[35] Organic Sales - The company defines Organic Sales as net sales excluding acquired branches until they have been under ownership for at least four full fiscal quarters[25] - Organic sales for the 2025 Fiscal Year were $4,484.3 million, with Q4 organic sales at $992.2 million[39] - Organic Daily Sales for Q4 2025 were $17.8 million, compared to $16.3 million in Q3 2025[39] - The company has maintained a consistent growth trajectory in organic sales, reflecting a strong market position[39]