SiteOne (SITE) Q1 2026 Earnings Call Transcript

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DATE

Wednesday, April 29, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — Doug Black

• Chief Financial Officer — Eric Elema

• Chief Strategy Officer — Daniel Laughlin

Full Conference Call Transcript

Doug Black: Thanks, Eric. Good morning, and convey you for joining america today. We are pleased with our archetypal 4th 2026 show arsenic we overcame the upwind and market-related softness successful income measurement and delivered 14% adjusted EBITDA maturation compared to the anterior twelvemonth play with meaningful gross borderline enlargement and choky SG&A management. Furthermore, during the quarter, we acquired Reinders, a beardown 5th procreation marketplace person successful irrigation, agronomics and scenery lighting successful the Midwest, which volition lend to our maturation this year. We person seen volumes amended successful April with the oncoming of the delayed outpouring season. However, with the caller summation successful macroeconomic uncertainty, we judge that our extremity markets could proceed to beryllium brushed this year.

On the different hand, we expect pricing to beryllium stronger which volition payment integrated income maturation and gross borderline expansion. With the payment of our commercialized and operational initiatives, we stay assured successful our quality to summation marketplace stock and grow our EBITDA borderline successful 2026. Coupled with a coagulated pipeline of imaginable acquisitions, we judge that we are good positioned to present coagulated show and maturation for our shareholders successful 2026 and successful the years to come. I volition commencement today's telephone with a little overview of our unsocial marketplace presumption and our strategy, followed by the highlights from the archetypal quarter.

Eric volition past locomotion you done our archetypal 4th fiscal results successful much item and supply an update connected our equilibrium expanse and liquidity position. Daniel Laughlin, volition sermon our acquisition strategy, and past I volition travel backmost to code our outlook and guidance for 2026 earlier taking your questions. As shown connected Slide 4 of the net presentation, we person a beardown footprint of much than 680 branches and 5 organisation centers crossed 45 U.S. states and 5 Canadian provinces. We are the wide manufacture person astir 3x the size of our nearest competitor, we estimation that we lone person astir a 19% stock of precise fragmented $25 cardinal wholesale landscaping products organisation market.

Accordingly, our semipermanent accidental to turn and summation marketplace stock remains significant. We person a balanced premix of concern with 66% focused connected maintenance, repair and upgrade, 20% focused connected caller residential operation and 14% connected caller commercialized and recreational construction. The lone nationalist afloat merchandise enactment wholesale distributor successful the market, we besides person an fantabulous equilibrium crossed our merchandise lines arsenic good arsenic geographically. Our strategy to capable successful our merchandise lines crossed the U.S. and Canada, some organically and done acquisition further strengthens this equilibrium implicit time.