SiteOne Landscape Supply Reports Slight Increase in Net Sales for Q1 2026

SiteOne Landscape Supply, Inc. reported a slight increase in net sales for the first quarter of 2026, reaching $940.1 million, up from $939.4 million in the same period last year. The company experienced a 1% decline in organic daily sales, attributed to unfavorable weather conditions and soft demand in the residential construction market. However, price increases contributed approximately 3% to organic daily sales, reflecting a continued positive pricing trend that began in the latter half of the previous fiscal year. Gross profit rose to $318.8 million, a 3% increase from $309.8 million, with gross margin improving by 90 basis points to 33.9%.

In terms of profitability, SiteOne reported a net loss of $26.6 million for the quarter, a slight improvement from the $27.3 million loss recorded in the prior year. The reduction in net loss was primarily due to increased gross profit, which was partially offset by higher selling, general, and administrative expenses (SG&A), which rose 2% to $349.9 million. The increase in SG&A was largely driven by the impact of acquisitions and higher operating costs associated with them.

Strategically, SiteOne has been active in expanding its market presence through acquisitions, completing transactions totaling $78.1 million in the first quarter of 2026, compared to $7.6 million in the same period last year. Notable acquisitions included Reinders, Inc., a distributor of irrigation and landscape supplies, and Bourget Flagstone Co., enhancing SiteOne's product offerings and geographic reach. As of March 29, 2026, the company operated over 680 branches across the U.S. and Canada, reflecting its commitment to growth in the landscape supply sector.

Operationally, the company reported a working capital increase to $1,073.4 million, up from $1,012.0 million at the end of the previous fiscal year, primarily due to seasonal factors. Cash flow from operating activities showed improvement, with a net cash usage of $122.1 million, down from $129.6 million in the prior year. The company also reported a significant increase in cash used for investing activities, totaling $101.6 million, driven by higher acquisition investments and capital expenditures.

Looking ahead, SiteOne anticipates continued challenges due to economic uncertainties, including inflation and geopolitical tensions, which may affect consumer confidence and discretionary spending. However, the company remains optimistic about long-term growth opportunities in the landscape supply industry, supported by favorable demographic trends and a robust acquisition pipeline. The management is focused on leveraging its scale and resources to drive organic growth and enhance profitability while navigating the current market conditions.