SiteOne’s 2Q Sales Spike by 33% in 2Q - Modern Distribution Management

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SiteOne’s 2Q Sales Spike by 33% in 2Q

SiteOne’s net income increased by 56% year-over-year to $123 million in 2Q while gross profit increased 36% to $388.2 million.
SiteOne 2021 4Q and year end sales

SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, on Wednesday announced that its sales for the second quarter jumped up by 33% to $33 billion when compared to the same quarter last year.

In addition, the company’s net income increased by 56% year-over-year in 2Q to $123 million while gross profit increased 36% to $388.2 million.

“We sustained excellent momentum in the second quarter of 2021 as our functional and field teams continued to work together and take advantage of the robust demand for professional landscaping products and services, resulting in strong organic sales and significant earnings growth,” said SiteOne Chairman and CEO  Doug Black. “The investments in our product category management and supply chain capabilities enabled us to serve our customers well and gain market share, despite product shortages and rising inflation.

“Concurrently, the execution of our commercial and operational initiatives enabled us to achieve outstanding operating leverage and improved profitability, even as we invested heavily in building our capabilities for the future.”

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