SiteOne Landscape Supply, Inc. reported a net loss of $27.3 million for the first quarter of 2025, compared to a loss of $19.3 million in the same period last year. The company's net sales increased by 4% to $939.4 million, up from $904.8 million in the prior year, primarily driven by acquisitions. However, organic daily sales declined by 1%, attributed to a delayed start to the spring selling season, lower prices for commodity products, and a softer repair and remodel market. The gross profit for the quarter was $309.8 million, reflecting a gross margin of 33.0%, a decrease of 30 basis points from the previous year.
The company's selling, general, and administrative expenses rose by 5% to $343.2 million, largely due to the impact of acquisitions. This increase in expenses contributed to the overall net loss, despite the growth in sales. The company also reported a significant increase in cash used in operating activities, totaling $129.6 million, compared to $99.3 million in the prior year, driven by early inventory purchases in anticipation of potential tariff impacts.
In terms of strategic developments, SiteOne completed one acquisition during the quarter, acquiring the assets of Pacific Nurseries for $7.6 million. This acquisition is part of the company's ongoing strategy to expand its geographic reach and product offerings. As of March 30, 2025, SiteOne operated over 690 branches across 45 U.S. states and six Canadian provinces, maintaining its position as the largest national wholesale distributor of landscape supplies.
Looking ahead, the company anticipates continued pressure on net sales growth and net income due to ongoing economic challenges, including elevated interest rates and inflation. However, SiteOne remains optimistic about long-term growth opportunities in the landscape supply industry, driven by favorable population trends and sustained interest in outdoor living. The company plans to focus on cost control and margin management while leveraging its scale and resources to drive organic growth and further acquisitions.
About SiteOne Landscape Supply, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.