SiteOne Landscape Supply (NYSE:SITE) reported financial results for its first quarter ended March 29, 2026, highlighting a period of resilient operational performance and successful inorganic growth.
The Roswell, Georgia-based distributor posted net sales of $940.1 million, a slight increase of $0.7 million compared to the prior-year period.
While organic daily sales saw a modest decrease of 1%, the company successfully leveraged its scale to drive bottom-line improvements.
The quarter was defined by strong margin discipline.
SiteOne's gross profit rose 3% to $318.8 million, with gross margins expanding by 90 basis points to 33.9%.
This improvement helped drive adjusted EBITDA up 14% to $25.5 million, resulting in an adjusted EBITDA margin of 2.7%.
The company reported a net loss attributable to SiteOne of $26.6 million, a slight improvement from the $27.3 million loss recorded in the first quarter of 2025, reflecting the typical seasonality of the landscaping industry.
Operating efficiency remained a core focus, as base business SG&A expenses remained flat on an adjusted basis.
However, total SG&A as a percentage of net sales increased by 70 basis points to 37.2%, primarily due to the integration of newly acquired businesses.
On the cash front, the company saw an improvement in liquidity as cash used in operating activities decreased by $7.5 million to $122.1 million.