SiteOne Earnings: What To Look For From SITE

SITE Cover Image

Agriculture products company SiteOne Landscape Supply (NYSE: SITE) will be announcing earnings results this Wednesday before market open. Here’s what to look for.

SiteOne met analysts’ revenue expectations last quarter, reporting revenues of $1.26 billion, up 4.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ organic revenue estimates.

Is SiteOne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting SiteOne’s revenue to grow 4.2% year on year to $1.06 billion, in line with the 5% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.18 per share.

SiteOne Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SiteOne has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.

Looking at SiteOne’s peers in the industrial distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 5.7%, beating analysts’ expectations by 4.8%, and United Rentals reported revenues up 2.8%, falling short of estimates by 0.7%. Richardson Electronics traded down 11.7% following the results while United Rentals was also down 12.9%.

Read our full analysis of Richardson Electronics’s results here and United Rentals’s results here.

There has been positive sentiment among investors in the industrial distributors segment, with share prices up 8.2% on average over the last month. SiteOne’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $155.90 (compared to the current share price of $145.62).

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