SiteOne Landscape Supply 2022 Sales Increase 16% - Modern Distribution Management

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SiteOne Landscape Supply 2022 Sales Increase 16%

SiteOne finished 2022 with a strong fourth quarter.

Georgia-based SiteOne Landscape Supply reported its 2022 fourth-quarter and full-year financial results on Feb. 15, showing a strong finish to the year for the landscape supplies distributor.

SiteOne had 4Q net sales of $890 million, up 11% year-over-year, while organic sales were up 7% year-over-year. Gross profit increased 7% to $302.6 million and gross margin was 34%. SiteOne’s 4Q financials were down slightly from 3Q 2022, when it had sales of $1.1 billion, up 18% year-over-year, with organic sales up 12% year-over-year.

For the full year 2022, SiteOne posted net sales of $4.01 billion, a 16% increase over 2021. Organic daily sales were up 11% compared to 2021, while gross profit increased 17% to $1.42 billion and gross margin jumped 50 basis points to 35.4%.

“Working through the challenges of continued high price inflation and reduced volume, our teams executed at a high level and delivered another record year while improving our capabilities for performance and growth in the years to come,” SiteOne Chairman and CEO Doug Black said in a news release. “As we face the economic headwinds of 2023, we will continue to leverage our exceptional teams, market leadership position, strong balance sheet, and ongoing commercial and operational initiatives to outperform the market organically, build our company through acquisition, and further execute our long-term growth strategy.”

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