SiteOne Landscape Supply, Inc. reported a solid financial performance for the third quarter and the first nine months of fiscal 2025, with net sales reaching $1,258.2 million for the quarter, a 4% increase from $1,208.8 million in the same period last year. For the nine months ended September 28, 2025, net sales totaled $3,659.2 million, up from $3,527.5 million in the prior year. The company attributed this growth to effective sales initiatives, improved pricing, and contributions from recent acquisitions, which added approximately $12.5 million and $98.5 million to net sales for the respective periods.
The company's gross profit also saw an increase, rising to $437.2 million for the third quarter, compared to $411.0 million a year earlier, while gross margin improved to 34.7% from 34.0%. For the nine-month period, gross profit increased to $1,278.4 million, up from $1,222.5 million, with gross margin rising to 34.9%. This improvement was primarily driven by better price realization and contributions from acquisitions with higher gross margins. However, selling, general, and administrative expenses (SG&A) increased by 2% for the quarter and 3% for the nine months, reflecting the impact of acquisitions, although SG&A as a percentage of net sales decreased slightly.
SiteOne's net income attributable to the company increased significantly, reaching $59.1 million for the third quarter, compared to $44.4 million in the prior year, and $160.8 million for the nine months, up from $145.3 million. This increase was largely due to higher net sales, improved gross margins, and effective management of SG&A expenses. The company reported a decrease in net cash provided by operating activities to $135.7 million for the nine months ended September 28, 2025, down from $164.0 million in the previous year, primarily due to earlier inventory purchases in anticipation of tariffs.
In terms of strategic developments, SiteOne has continued to expand its footprint through acquisitions, completing several transactions in 2025, including the acquisition of Autumn Ridge Stone and Landscape Supply, Nashville Nursery and Landscape Supply, and Grove Nursery Center. As of September 28, 2025, the company operated over 680 branches across 45 U.S. states and six Canadian provinces. The company also announced a share repurchase program, with $400 million authorized for repurchases, of which approximately $77.7 million has been utilized through October 29, 2025.
Looking ahead, SiteOne anticipates continued challenges due to economic uncertainties, including elevated interest rates and weakened consumer confidence, which may impact demand in the residential construction market. However, the company remains optimistic about long-term growth opportunities in the landscape supply industry, driven by favorable demographic trends and sustained interest in outdoor living. The management is committed to executing its strategic initiatives to enhance profitability and market share while navigating the current economic landscape.
About SiteOne Landscape Supply, Inc.
SiteOne Landscape Supply, Inc. is the leading national wholesale distributor of landscape supplies in the U.S. and Canada, offering approximately 170,000 SKUs across categories like irrigation, hardscapes, nursery goods, and outdoor lighting. Serving residential and commercial landscape professionals, it provides products, technical expertise, and value-added services through an extensive branch network, supporting project needs and fostering long-term customer relationships in a highly fragmented industry.
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