The 2020 Mid-Year Economic Update_long

SiteOne Sales Soar 41.4% in 1Q

Landscape supply distributor SiteOne Landscape Supply Inc. also posted a profit of $7.4 million, up from a loss last year.
SiteOne

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, on Wednesday announced sales for the first quarter of $650.2 million, up 41.4% from the same period a year ago. The company posted a profit of $7.4 million, up from a loss of $17.5 million in 1Q 2020.

“With favorable demand across all regions and product lines, we achieved record organic daily sales growth and excellent operating leverage resulting in strong EBITDA growth,” said Doug Black, SiteOne’s chairman and CEO. “Additionally, we have added four new high-performing companies to the SiteOne family, while continuing to invest in our commercial and operational initiatives. Overall, I am pleased that we are executing our strategy at a high level and gaining strength as a company, which is allowing us to take advantage of the current market developments while setting us up for continued performance and growth in the longer term. We expect the underlying market trends to remain positive and are confident in our ability to deliver superior results to our stakeholders in 2021 and beyond.”

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