SiteOne Landscape Supply (SITE) Tops Q3 EPS by 24c, Revenues Beat; Raises FY20 Adj. EBITDA Guidance
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SiteOne Landscape Supply Announces Third Quarter 2020 Earnings
October 28, 2020 6:00 AM EDTThird Quarter 2020 Highlights (Compared to Third Quarter 2019):
Net sales increased by 15% to $751.9 million Organic Daily Sales increased by 11% Gross profit increased 16% to $250.1 million; gross margin increased 30 basis points to 33.3% SG&A as a percentage of Net sales decreased by 90 basis points to 24.4% Net income increased 39% to $48.2 million Adjusted EBITDA increased 25% to $87.8 million; Adjusted EBITDA margin increased 90 basis points to 11.7% Net debt to Adjusted EBITDA improved to 0.8x, compared to 2.9x in the prior year quarter Completed a $261.7 million common stock offering in August Closed two acquisitions:... More