SITE's Joint Venture Partner Devil Mountain Acquires Pacific Nurseries

Acquisition and Expansion Strategy - SiteOne Landscape Supply's majority-owned joint venture, Devil Mountain Wholesale Nursery, acquired Pacific Nurseries, a wholesale distributor of nursery products [1] - The acquisition aligns with SiteOne Landscape Supply and Devil Mountain's growth strategies and expands their presence in the Bay Area [2] - SiteOne Landscape Supply has been actively pursuing acquisitions, completing seven in 2024 and 11 in 2023, reflecting its expansion strategy [3] - Devil Mountain's acquisition of Pacific Nurseries marks its first acquisition in 2025 [3] Financial Performance - SiteOne Landscape Supply reported an adjusted EPS of 97 cents in Q3 2024, missing the Zacks Consensus Estimate of $1.18 [4] - The company's Q3 2024 revenue was$1.21 billion, surpassing the Zacks Consensus Estimate of $1.18 billion and representing a 2.4% year-over-year increase [4] - SiteOne Landscape Supply's stock price declined by 15.6% over the past year, underperforming the industry's 8.9% growth [5] Industry Comparison - Graham Corporation (GHM) delivered an average trailing four-quarter earnings surprise of 101.85% and is expected to achieve 145.2% year-over-year earnings growth in 2024 [8] - Federal Signal Corporation (FSS) delivered an average trailing four-quarter earnings surprise of 11.8% and is expected to achieve 29.5% year-over-year earnings growth in 2024 [9] - Gates Industrial Corporation plc (GTES) is expected to achieve 11.8% year-over-year earnings growth in 2024 [9]