Siteone Landscape Supply, Inc. (SITE) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Siteone Landscape Supply, Inc.
Ticker: SITE CIK: 1650729

Exhibit 99.1

February 20, 2018

SiteOne Landscape Supply Announces Fourth Quarter and Full Year 2017 Earnings

Fourth Quarter 2017 Highlights:

Net sales increased by 15% to $415.7 million

Organic Daily Sales increased by 7%

Gross profit increased 18% to $131.9 million; gross margin increased 80 basis points to 31.7%

Net income of $4.0 million, compared to a net loss of $5.6 million in the prior year period

Adjusted EBITDA increased 37% to $15.3 million

Completed the acquisition of Harmony Gardens

Full Year 2017 Highlights:

Net sales increased by 13% to $1.86 billion

Organic Daily Sales increased by 5%

Gross profit increased 15% to $595.5 million; gross margin increased 70 basis points to 32.0%

Net income for the year was $54.6 million, compared to $30.6 million in 2016

Adjusted EBITDA increased 17% to $157.2 million; adjusted EBITDA margin improved to 8.4%

Year-end net debt to Adjusted EBITDA was 2.9x

Completed eight acquisitions during the year with approximately $130.0 million in annualized net sales

Post-Quarter Highlights:

Completed the acquisition of Pete Rose, Inc. and Atlantic Irrigation

ROSWELL, Ga. — (BUSINESS WIRE) — SiteOne Landscape Supply, Inc. (the “Company” or “SiteOne”) (NYSE: SITE) announced earnings for its fourth quarter and full fiscal year ended December 31, 2017 (“Fiscal 2017”).

“We finished 2017 with a strong fourth quarter performance and are pleased with our overall full-year financial results. During the year we improved organic sales growth, achieved solid contribution of sales and profits from acquisitions and expanded our adjusted EBITDA margin. The combination of these allowed us to deliver strong adjusted EBITDA and net income growth while keeping our leverage ratio within our targeted range,” said Doug Black, SiteOne’s Chairman and CEO. “We also made important investments in our salesforce, eCommerce, IT, and supply chain to strengthen our company and support future growth and profitability. With positive end-market growth trends, we are excited to continue to execute our strategy and create significant value for all of our stakeholders in the coming years. ”

Fourth Quarter 2017 Results

Net sales for the fourth quarter of Fiscal 2017 increased to $415.7 million, or 15%, compared to $361.8 million for the prior-year period. Organic Daily Sales increased 7% compared to prior year period as we saw strength in the construction, repair and remodel and golf markets. Acquisitions contributed approximately $31 million in sales, or 8%, to our overall growth for the quarter.

The following information was filed by Siteone Landscape Supply, Inc. (SITE) on Tuesday, February 20, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. 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.

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