![]() ![]() ![]() Read moreĪcquisitions contributed $186.8 million, or. Operational excellence initiatives, including the. Read moreĪdverse market or economic events. Selling, general and administrative expenses. "Risk Factors", for a discussion of risks related to inflation and increased operating costs as well as risks associated with supply chain delays or interruptions that could have a material adverse effect on our operations and financial results. The increase in Net income was primarily due to sales growth and gross margin improvement.Ī 10% change to our current reserve for excess and obsolete inventory would not result in a material change to our consolidated financial statements however, given the value of inventory on hand, a significant change in demand or market conditions could result in a material adjustment to our reserve in future periods. The increase in SG&A as a percentage of Net sales was primarily due to additional operating expenses supporting our growth, cost inflation, and contributions from acquisitions. The improvement was primarily due to higher Net income, including the adjustments to reconcile Net income to net cash provided by operating activities, partially offset by an increase in working capital. Other Inside Siteone Landscape Supply, Inc.'s 10-K Annual Report: ![]() It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release. (SITE) on Wednesday, Februas an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. The following information was filed by Siteone Landscape Supply, Inc. Points to 34.0% for the fourth quarter of Fiscal 2022 as the price realization benefit achieved in the fourth quarter of 2021 was not Million for the fourth quarter of Fiscal 2022 compared to $282.4 million for the prior-year period. $41.9 million, or 5%, to Net sales growth for the quarter. Organic Daily Sales increasedħ% compared to the prior-year period primarily driven by price inflation in response to elevated product costs. Sheet, and ongoing commercial and operational initiatives to outperform the market organically, build our company through acquisition,Īnd further execute our long-term growth strategy.”įiscal 2022 increased to $890.0 million, or 11%, compared to $805.2 million for the prior-year period. We face the economic headwinds of 2023, we will continue to leverage our exceptional teams, market leadership position, strong balance New high-performing companies with 48 locations and approximately $240 million in trailing twelve-month sales to SiteOne in 2022. “Working through the challenges of continued high price inflation and reduced volume, our teams executed at a high levelĪnd delivered another record year while improving our capabilities for performance and growth in the years to come. In Net sales and Adjusted EBITDA, resilient Adjusted EBITDA margin and good cash flow,” said Doug Black, SiteOne’s ChairmanĪnd CEO. The year well against a very strong fourth quarter performance in 2021, capping off an excellent year in 2022 of double-digit growth (the “Company” or “SiteOne”) (NYSE: SITE) announcedĮarnings for its fourth quarter and full fiscal year ended Janu(“Fiscal 2022”). ![]() (BUSINESS WIRE) - SiteOne Landscape Supply, Inc. Income for the year increased 3% to $245.4 millionĮBITDA margin decreased 30 basis points to 11.6%ġ6 acquisitions during the year with approximately $240 million in trailing twelve monthsĭebt to Adjusted EBITDA at year-end was 0.8x, compared to 0.6x at year-end 2021 Profit increased 17% to $1.42 billion Gross margin increased 50 basis points to 35.4%Īs a percentage of Net sales increased by 140 basis points to 27.3% Of Directors approved $400 million share repurchase authorization repurchased $25.0 million Three acquisitions: Madison Block & Stone, Telluride Natural Stone, and Whittlesey Landscape Profit increased 7% to $302.6 million Gross margin was 34.0%Īs a percentage of Net sales increased 350 basis points to 34.2%ĮBITDA decreased 37% to $38.9 million Adjusted EBITDA margin was 4.4% Landscape Supply Announces Fourth Quarter and Full Year 2022 EarningsĢ022 Highlights (Compared to Fourth Quarter 2021): ![]()
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