Siteone Landscape Supply, Inc. · NYSE:SITE
Siteone Landscape Supply — Q1 2025 Earnings Presentation
20 slides from Siteone Landscape Supply's earnings presentation, Apr 30, 2025
Slide 1: First Quarter 2025 Earnings
SiteOne™ LANDSCAPE SUPPLY Stronger Together First Quarter 2025 Earnings
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our acquisition pipeline, organic and acqui
Slide 3: Conference call agenda
Conference call agenda Introduction John Guthrie, CFO Business Update Doug Black, Chairman and CEO Financial Update John Guthrie, CFO Development Update Scott Salmon, EVP Strategy & Development Closing & Outlook Doug Black, Chairman and CEO Q&A 3
Slide 4: Company and industry overview
Company and industry overview ■ Largest and only national full product line wholesale distributor of landscape supplies ■ $25 billion highly fragmented market(1) ■ More than three times the size of next competitor and only ~18% market share(1) ■ Serving residential and commercial landscape professio
Slide 5: SiteOne is built for continued growth and margin enhancement
SiteOne is built for continued growth and margin enhancement Current strategy ✓ Leverage strengths of both large and local company ■ Fully exploit our scale, resources and capabilities ■ Execute local market growth strategies ■ Deliver superior value to our customers and suppliers ■ Close and integr
Slide 6: Track record of performance and growth
Track record of performance and growth Net Sales Adjusted EBITDA ($ in Millions) ($ in Millions) ’16-’24 ’16-’24 $4,301 $4,541 $464 $4,015 Growth $415 Growth $3,476 $411 $378 $2,705 Sales $ Adj. EBITDA $ $2,358 +176% +182% $2,112 $260 $1,862 GM % $201 $1,648 $176 Adj. EBITDA +310bps $157 $134 % +20
Slide 7: Significant room to grow across product lines
Significant room to grow across product lines # of markets(1) Missing either Missing both Full Product No Hardscapes or Hardscapes Line Offering Presence Nursery and Nursery SiteOne offers all ~50 product lines in only ~25% of our target markets today… ~60 ~70 ~60 (1) Target markets as of Fourth Qua
Slide 8: First Quarter 2025 highlights
First Quarter 2025 highlights First Quarter 2025 highlights (compared to First Quarter 2024): ✓ Net sales increased 4% to $939.4 million and Organic Daily Sales decreased 1% ✓ Gross profit increased 3% to $309.8 million; gross margin contracted 30 basis points to 33.0% ✓ SG&A as a percentage of Net
Slide 9: Review of First Quarter 2025 financial results
Review of First Quarter 2025 financial results Summary financials Financial highlights (compared to prior-year period) (in millions) +4% ■ Net sales increased 4% YoY to $939.4 million – Organic Daily Sales decreased 1% due to a later start to the Net sales $939.4 spring selling season, lower prices
Slide 10: Balance sheet & cash flow highlights
Balance sheet & cash flow highlights Quarter ended March 30, 2025 Balance sheet & cash flow highlights (compared to prior-year period) ($ in millions) ■ Working capital increased to $1.0 billion, compared to $910.0 million – Increase attributable to acquisitions and early purchases of Working capita
Slide 11: Proven track record of successful acquisitions
Proven track record of successful acquisitions 2014 – 2020 2021 2022 2023 2024 2025 Total 2019 ▪ Wittkopf ▪ Lucky Landscape ▪ JK Enterprise ▪ J&J Materials ▪ Eggemeyer ▪ Pacific Nurseries Landscape ▪ Arizona Stone & ▪ BellStone Masonry ▪ Triangle ▪ Devil Mountain ▪ Green Trade Supplies Solstice Land
Slide 12: M&A continues to add significant value
M&A continues to add significant value Pacific Nurseries ✓ Closed on January 2nd ✓ Acquired by our Devil Mountain joint venture partner ✓ Expands our leading wholesale Devil Mountain nursery presence in the Bay Area Pacific Nurseries ✓ Purchasing synergies ✓ Cross-selling synergies Source: Company d
Slide 13: M&A continues to add significant value
M&A continues to add significant value Green Trade Nursery ✓ Closed on March 31st ✓ Wholesale nursery distributor in the north Atlanta market SiteOne Green Trade ✓ Purchasing synergies ✓ Cross-selling synergies Source: Company data 13
Slide 14: Robust pipeline provides significant growth opportunity
Robust pipeline provides significant growth opportunity ✓ SiteOne is the leading industry consolidator 18% ✓ Significant sourcing advantage with 80+ leaders scouting new growth opportunities 82% ✓ Our pipeline is deep and expanding ~$25bn market1 ✓ Experienced M&A team driving strong acquisition gro
Slide 15: 2025 Outlook
2025 Outlook ✓ Uncertainty in tariffs, inflation, and interest rates could negatively affect end market demand ✓ Demand expected to be flat to slightly down with solid maintenance growth, continued soft repair and upgrade demand, and resilient but uncertain demand in residential and commercial new c
Slide 16: Investment highlights
Investment highlights Uniquely Clear market leader attractive industry Compelling and Proven management sustainable team growth strategy Operational and Value-creating commercial acquisitions excellence 16
Slide 17: Appendix
Appendix Non-GAAP Reconciliations
Slide 18: Non-GAAP reconciliations
Non-GAAP reconciliations Adjusted EBITDA Reconciliation 2025 2024 2023 ($ in millions) Q1’25 Q4’24 Q3’24 Q2’24 Q1’24 Q4’23 Q3’23 Q2’23 Reported Net income (loss) $(27.5) $(21.5) $44.6 $120.6 $(19.3) $(3.4) $57.3 $124.0 Income tax expense (benefit) (9.4) (10.1) 15.8 40.0 (9.7) (5.0) 17.5 40.0 Interes
Slide 19: Non-GAAP reconciliations
Non-GAAP reconciliations Adjusted EBITDA Reconciliation ($ in millions) 2024 2023 2022 2021 2020 2019 2018 2017 2016 Reported Net income $124.4 $173.4 $245.4 $238.4 $121.3 $77.7 $73.9 $54.6 $30.6 Income tax expense 36.0 49.8 67.7 56.1 27.5 13.8 1.3 18.0 21.3 Interest expense, net 31.9 27.1 20.0 19.2
Slide 20: Non-GAAP reconciliations
Non-GAAP reconciliations 2025 Organic Daily Sales Reconciliation 2025 2024 ($ in millions) FY’25 Q4’25 Q3’25 Q2’25 Q1’25 FY’24 Q4’24 Q3’24 Q2’24 Q1’24 Reported Net Sales -- -- -- -- $939.4 $4,540.6 $1,013.1 $1,208.8 $1,413.9 $904.8 A Organic Sales -- -- -- -- 894.3 4,430.8 971.9 1,166.9 1,387.2 904.
SiteOne Landscape Supply — Q1 2025 Earnings Presentation on 6ix