Siteone Landscape Supply, Inc. · NYSE:SITE
Siteone Landscape Supply — Q3 2025 Earnings Presentation
22 slides from Siteone Landscape Supply's earnings presentation, 2025
Slide 1: Third Quarter 2025 Earnings
SiteOne™ LANDSCAPE SUPPLY Stronger Together Third 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 driving organic and inorganic growth, and 2
Slide 3: Conference call agenda
Conference call agenda Introduction John Guthrie, CFO Business Update Doug Black, Chairman and CEO Financial Update John Guthrie, CFO Eric Elema, VP, Finance and Corporate Controller 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 ■ $25 billion highly fragmented market1 ■ More than three times the size of next competitor and only ~18% market share1 ■ Serving residential and commercial landscape professionals
Slide 5: SiteOne is built for continued growth and margin enhancement
SiteOne is built for continued growth and margin enhancement Current strategy ✓ Leverage strengths of both large and local company ■ Fully exploit our scale, resources and capabilities ■ Execute local market growth strategies ■ Deliver superior value to our customers and suppliers ■ Close and integr
Slide 6: Track record of performance and growth
Track record of performance and growth Net Sales Adjusted EBITDA ($ 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 markets1 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 Quarte
Slide 8: Third Quarter 2025 highlights
Third Quarter 2025 highlights Third Quarter 2025 highlights (compared to Third Quarter 2024): ✓ Net sales increased 4% to $1,258.2 million and Organic Daily Sales increased 3% ✓ Gross profit increased 6% to $437.2 million; gross margin improved 70 basis points to 34.7% ✓ SG&A as a percentage of Net
Slide 9: Review of Third Quarter 2025 financial results
Review of Third Quarter 2025 financial results Summary financials Financial highlights (compared to prior-year period) ($ in millions) +4% ■ Net sales increased 4% to $1,258.2 million – Organic Daily Sales increased 3% driven by our sales Net sales $1,208.8 $1,258.2 initiatives and improved pricing
Slide 10: Balance sheet & cash flow highlights
Balance sheet & cash flow highlights Quarter ended September 28, 2025 Balance sheet & cash flow highlights (compared to prior-year period) ($ in millions) ■ Working capital increased to $1.06 billion, compared to $991.7 million – Attributable to early purchases of inventory ahead of tariffs and Work
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: Grove Nursery
M&A continues to add significant value Grove Nursery ✓ Closed on July 24th ✓ Wholesale nursery distributor in the NW Minneapolis market ✓ Purchasing synergies ✓ Cross-selling synergies SiteOne Grove Nursery Source: Company data 12
Slide 13: M&A continues to add significant value: Nashville Nursery
M&A continues to add significant value Nashville Nursery ✓ Closed on July 24th SiteOne ✓ Wholesale nursery distributor in Nashville Nursery the NW Nashville market ✓ Purchasing synergies ✓ Cross-selling synergies Source: Company data 13
Slide 14: M&A continues to add significant value: Autumn Ridge Stone
M&A continues to add significant value Autumn Ridge Stone ✓ Closed on September 19th SiteOne ✓ Wholesale hardscapes and Autumn Ridge landscape supplies distributor in Holland, Michigan ✓ Purchasing synergies ✓ Cross-selling synergies Source: Company data 14
Slide 15: M&A continues to add significant value: Red's Home & Garden
M&A continues to add significant value Red’s Home & Garden SiteOne Red’s ✓ Closed on October 1st ✓ Wholesale hardscapes and nursery distributor in Wilkesboro, North Carolina ✓ Purchasing synergies ✓ Cross-selling synergies Source: Company data 15
Slide 16: 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 ~$25bn market1 ✓ Experienced M&A team driving strong acquisition gro
Slide 17: 2025 Outlook
2025 Outlook ✓ End market demand expected to be down with solid maintenance growth more than offset by softness in new residential construction and repair and upgrade ✓ Pricing expected to be up 1% to 2% in Q4 with product price increases more than offsetting commodity price deflation ✓ Key commerci
Slide 18: Investment highlights
Investment highlights Uniquely Clear market leader attractive industry Compelling and Proven management sustainable team growth strategy Operational and Value-creating commercial acquisitions excellence 18
Slide 19: Appendix
Appendix Non-GAAP Reconciliations
Slide 20: Non-GAAP reconciliations
Non-GAAP reconciliations Adjusted EBITDA Reconciliation 2025 2024 2023 ($ in millions) Q3’25 Q2’25 Q1’25 Q4’24 Q3’24 Q2’24 Q1’24 Q4’23 Reported Net income (loss) $60.6 $132.1 $(27.5) $(21.5) $44.6 $120.6 $(19.3) $(3.4) Income tax expense (benefit) 15.5 45.0 (9.4) (10.1) 15.8 40.0 (9.7) (5.0) Interes
Slide 21: Non-GAAP reconciliations
Non-GAAP reconciliations Adjusted EBITDA Reconciliation ($ 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 $30.6 Income tax expense 36.0 49.8 67.7 56.1 27.5 13.8 1.3 18.0 21.3 Interest expense, net 31.9 27.1 20.0 19.2
Slide 22: Non-GAAP reconciliations
Non-GAAP reconciliations 2025 Organic Daily Sales Reconciliation 2025 2024 ($ 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 -- -- $1,258.2 $1,461.6 $939.4 $4,540.6 $1,013.1 $1,208.8 $1,413.9 $904.8 A Organic Sales -- -- 1,203.8 1,394.0 894.3 4,430.8 971.
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